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Blockchain Software Company Hires Former Goldman Sachs Lawyer

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Thu, 10/08/2020 - 16:02
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Alex Dovbnya
O(1) Labs has hired Goldman Sachs' Sang Joon Kim after losing a legal battle with R3
Blockchain Software Company Hires Former Goldman Sachs Lawyer
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Blockchain software development firm O(1) Labs has hired Goldman Sachs' former assistant general counsel and vice president Sang Joon Kim, according to an Oct. 8 report by Bloomberg Law.

Speaking of his new job, Kim says that O(1) Labs, the company behind the Mina blockchain, is able to solve scalability issues faced by the industry:

Such technology significantly lowers the cost of entry to participate in a democratic and consensus-based network and improves upon the scalability and accessibility issues faced by existing blockchain technology. The team is strong, and I am excited to contribute to a protocol that has the potential to bring about mass adoption of decentralized applications.

After spending three years at one of America's largest investment banks, she will now serve as the general counsel of O(1) Labs, starting Thursday.

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Mina, formerly known as Little Coda Protocol, boasts the world's lightest blockchain. It only weights 22 kb because it deploys recursive zk-SNARKs.

It was forced to change its name last month after O(1) Labs Operating Corporation got slapped with a federal trademark infringement lawsuit by major enterprise blockchain firm R3 last October.

The bone of contention was one letter. In its suit, R3—whose open source blockchain platform Corda has been adopted by hundreds of tech firms—argued that the name of its direct competitor was deceiving due to affiliation confusion.

Bolstering its team with Kim now makes it easier for O(1) Labs to fight such expensive legal battles as that one with R3.

In other news, $8 bln crypto exchange Coinbase also snagged Dyson's former deputy counsel Katherine Minarik as it prepares for its rumored public listing.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.