French Central Bank’s Former Governor Joins Blockchain Firm Setl As Board of Directors

The former governor of the Banque De France, Christian Noyer who is also a well known French economist, has now joined as a member of the board of directors of British blockchain technology startup ‘Setl’. The firm confirmed the same on January 17.

Setl was founded in the year 2015 as a financial firm focussed on blockchain technology. It provides payment and settlement services developed based on blockchain technology and infrastructure. This blockchain-based institutional payments system has a capacity reportedly more than 1 billion transactions in a day. That’s how firm aims to aid the market traders to directly transfer cash & other assets with immediate settlements.

Citi, Deloitte, Credit Agricole, Computershare, and S2iEM are major financial firms backing up the firm ‘Setl’. As per one of the recent announcement that Noyer joins Setl will bring a “wealth of experience in the financial, regulatory, economic management and central banking world.” In addition, Noyer said that he will look forward to, “helping shape this extremely interesting initiative.”

Noyer had served as Vice President of the European Central Bank, Governor of the Banque de France from November 2003 and October 2015. He had professional experience at the Treasury in the French Ministry of the Economy and Finance.

David Walker, the chairman of Setl gave a warm welcome to Noyer as he joins the board and quoted:
“With the encouragement of shareholders and the revenue generating projects we have recently announced we are adding significantly to the strength to the company. At this stage in the development of technology and its business applications it is important to choose the right projects and to deliver a dependably resilient product to the market.”

The company has a license to run a central securities depository system from France’s securities regulator. The company will roll out the depository in early 2019. As per the information shared on company’s official website, it has an ISO/IEC 27001 certification received from the ISO (International Organization for Standardization) as well as IEC (International Electrotechnical Commission) which is certifying a specific standard for information security management.

Martin Clements (former Senior Information Risk Owner of the U.K Foreign and Commonwealth Office), Sir David Walker (former non-executive member of the Court of the Bank of England) and Rachel Lomax who was former Deputy Governor at Bank of England have joined Setl’s board of directors before Noyer joined the firm.

The company has a license to run a central securities depository system from France’s securities regulator. The company will roll out the depository in early 2019. As per the information shared on company’s official website, it has an ISO/IEC 27001 certification received from the ISO (International Organization for Standardization) as well as IEC (International Electrotechnical Commission) which is certifying a specific standard for information security management. The firm declares that its network can interact with existing messaging protocols.

Crypto Exchange ErisX also revealed that Joseph Lubin has joined as its board of directors on 16th Jan. Lubin is the founder of ConsenSys (blockchain tech company) and co-founder of Ethereum (a cryptocurrency). On the other hand, Civic (a blockchain startup) has appointed Phillip Shoemaker (Apple veteran) as an executive director of Identity.com (firm’s decentralized identity platform).