Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

Former Samsung Corporate President and CSO Young Sohn joins Web3 compliance platform Astra Protocol as Advisor

Astra Protocol, a decentralized KYC platform for Web3, has appointed former Samsung Electronics President and Chief Strategy Officer Young Sohn to its Advisory Board. Equipped with significant expertise in capital investment and business strategy, Young Sohn will guide Astra Protocol's focus on real-world applications as the firm streamlines decentralized compliance within the digital assets industry.

The appointment of Young Sohn as Advisor to Astra Protocol's prestigious Advisory Board comes following partnerships with a number of world-class legal and auditing firms including global auditing giant, KPMG. This alliance forms part of Astra Protocol's decentralized legal network (DLN) of legal and compliance experts helping to eliminate risk for crypto applications.

Young Sohn, Founding Managing Partner at Walden Catalyst Ventures, and former President and Chief Strategy Officer at Samsung Electronics, commented: "What we are currently witnessing is a paradigm shift, where emerging technologies have the impact to transform our everyday lives. However, market headwinds and rapidly evolving business landscapes are stifling adoption. The need for tangible compliance frameworks has never been clearer, particularly as the wider technology industry incorporates features of Web3. Astra Protocol is trailblazing in achieving this for decentralized ecosystems with the opportunity to effect real change."

During his tenure at Samsung, Young Sohn spearheaded the $8 billion acquisition of HARMAN International Industries, a global name in IoT and Cloud solutions, of which Young Sohn is Chairman of the Board. Now, Founding Managing Partner at Walden Catalyst Ventures, a venture capital (VC) firm helping early-stage companies in deep tech, Young Sohn brings with him an esteemed skillset in emerging technology investments, business consultation and strategy, and mergers and acquisitions (M&A).

Astra Protocol provides a geospatial compliance layer to DeFi applications and smart contracts by harnessing the regulatory frameworks of 155 countries. It enables KYC compliance in Web3 without sacrificing any individual user's anonymity or privacy. Astra Protocol leverages the expertise of several global legal and auditing firms to provide Anti-Money Laundering (AML), Know Your Customer (KYC), and Know Your Business (KYB) services to Web3 companies, using advanced biometric technology and liveness checks to provide real-world validation.

Jez Noah Ali, Co-Founder and Director of Astra Protocol, concluded: "Having a geographically diverse and experienced Advisory Board is paramount to the efficacy of our product. With extensive experience in capital investment, emerging technologies, and business strategy, Young Sohn will be instrumental as we traverse the rapidly evolving standards of regulatory compliance globally. These developments with our Advisory Board, adoption partners, and investment partners are laying a robust foundation as we prepare to go to market with our compliance toolkit this quarter. With Young's guidance, Astra stands to open the doors to institutional participation in Web3 and the decentralized world."

For more information on Astra Protocol, visit the official website

About Astra Protocol

Astra Protocol is a decentralized KYC platform for Web3. By employing the financial regulatory standards from over 150 countries, and bringing 300 sanctions and watchlists to the crypto industry, Astra Protocol is seamlessly delivering next-generation geospatial compliance. The protocol harnesses the expertise of global auditing firms and patented technology to deliver best-in-class KYC, KYB and AML services, and operates as a versatile on-chain dispute resolution and data verification platform for blockchain and smart contracts.

Built by a team of visionaries, with a globally renowned Advisory Board that includes White House Chief of Staff, Mick Mulvaney; former Secretary for Homeland Security, Kirstjen Nielsen; and former European Commissioner for Trade, Phil Hogan, Astra Protocol is working towards a secure, frictionless financial system that supports the ethos of decentralization and the burgeoning digital economy.

SOURCE Astra Protocol


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Mardi 28 Février 2023