Blockchain Startup Adds UK Cybersecurity Expert to Board

A former official for the UK’s Foreign Office has joined the board of blockchain startup Setl.

AccessTimeIconNov 11, 2016 at 2:01 p.m. UTC
Updated Sep 11, 2021 at 12:36 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A former official for the UK’s Foreign Office has joined the board of blockchain startup Setl.

Martin Clements served as director general for technology and transformation at the UK Foreign and Commonwealth Office. Clements is the second high-profile UK official to join Setl’s board in the past year. Last December, the startup named former executive director of the Bank of England Sir David Walker as its chairman.

The announcement follows news that Setl is one of a group of blockchain startups recently greenlit for the startup ‘sandbox’ launched by the Financial Conduct Authority (FCA), a finance regulator in the UK. That effort was launched in order to provide a basis for startups to test new – and potentially risky – technologies under supervision.

According to the startup, Clements will advise the startup on technology issues, drawing from his work in the areas of national and cybersecurity while working for the UK government.

Setl CEO Peter Randall said in a statement:

“We are in no doubt as to the importance of system resilience and cyber security in the payments and settlements world and the appointment of Martin is an indication that SETL will deal with these matters at board level.”

The hire is a notable example of a UK government official entering the blockchain space. For much of the past year, various agencies within the government have moved to test or support blockchain applications, following recommendations from its chief science advisor that it actively pursue ways to trial and explore the tech.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.