Blockchain Firm Denies ‘Conflict of Interest’ for Advisor Yanis Varoufakis

Yanis Varoufakis

Blockchain technology firm Tembusu Systems has hit back at claims Greek finance minister Yanis Varoufakis’ role as its advisor represents a “conflict of interest” for the politician.

On Monday Greece’s weekly paper Proto Thema produced emails from a company representative claiming Professor Varoufakis was still “affiliated to Tembusu in an advisory role” as recently as March 2015.

This role “raises legitimate questions about a conflict of interest in Varoufakis’ support of an extreme albeit innovative method for financial transactions,” the paper said.

In a statement posted online, Tembusu said Varoufakis had helped the Singaporean firm build its key foundation strategy towards the end of 2014. As a result of that contribution the company continued to recognize him as an advisor, it said.

The finance minister has not played any active role for Tembusu since his decision to stand in Greece’s elections. His last contribution was in December 2014, it said.

Since the Proto Thema article appeared, Varoufakis’ name and photo have been removed from Tembusu’s team page.

Lack of bitcoin understanding

Proto Thema (translated as ‘Lead Story’) is a populist tabloid-style Greek newspaper published weekly. It is reportedly the highest-selling weekly in the country, with

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