Cardano and MultiversX Join Web3 Innovation Initiative in Geneva with Launch of Lightningbox
14 Juin 2024 - 11:15AM
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Blockchain services provider STORM Partners made a major
announcement during the Web3Fest, along with Cardano (ADA),
MultiversX, and other major projects in the crypto space. During
the event in Switzerland’s “Crypto Valley,” the company unveiled
“Lightningbox,” a new Web3 Sandbox, and relocated its headquarters
from Montreux to Geneva. The initiative aims to enable large
enterprises in Europe to harness the potential of blockchain
technology and lead their digital transformation efforts. STORM
Partners Joins Cardano (ADA) To Accelerate Blockchain Adoption The
Lightningbox initiative seeks to facilitate the widespread adoption
of blockchain by establishing a trusted environment equipped with
institutional-grade tools. This initiative empowers large
organizations to leverage Web3 tools and build new solutions.
Initially, Lightningbox will focus on three pillars intrinsic to
the Geneva landscape: Impact, Consumer, and Finance, with Life
Sciences to follow shortly. The selection of these focus areas
stems from substantial demand from local traditional players
seeking deeper involvement in the digital economy. Related Reading:
Bitwise Forecasts $20 Trillion Boost To Global GDP From Crypto And
AI By 2030 STORM Partners has also partnered with integration
companies to drive innovation within the Lightningbox ecosystem.
These integration partners have committed significant internal
resources and technological expertise to the program, amounting to
substantial support in the mid-six figures. Notable early
contributors include stablecoin issuer Circle (USDC), cybersecurity
provider Hacken, MultiversX’s infrastructure, and law firm Walder
Wyss. Lightningbox aims to transform ideas into reality through a
four-phase development process. Starting with brainstorming and
workshops, the initiative progresses through observation and
improvements, industry and community feedback, and concludes with
testing and private launch campaigns. Decentral House’s
Web3-focused Corporate Innovation Day served as the platform for
the announcement, bringing together industry leaders,
entrepreneurs, and representatives from global brands such as eBay,
UNHCR, Hublot, BBVA, and UNICEF. As mentioned, prominent
blockchain projects such as Cardano, Mina Protocol, MultiversX, and
Hedera were also represented, underscoring the importance of the
event and Switzerland’s willingness to promote crypto and
blockchain adoption. Geneva As A Global Blockchain Hub? Sheraz
Ahmed, Managing Partner of STORM Partners, was enthusiastic about
the announcement. He highlighted the need to strengthen the
blockchain industry by providing a hub for “bright minds and
disruptive projects” in the decentralized applications (dApps)
space. It was also announced that STORM Partners will be
located at Decentral House in Geneva, considered the epicenter of a
large ecosystem that fosters community, collaboration, and the
growth of blockchain technology. Ahmed, who is also the founder of
Decentral House, said: Geneva has a rich history of
innovation and global institutions; it is the ideal place to fuel
this digital transformation. Local organizations that strive for
global impact, such as the World Economic Forum, the United
Nations, and many private banks, make Geneva the perfect location
to steer and amplify the growth of blockchain worldwide Related
Reading: VC Firm Paradigm Secures $850 Million For Crypto Projects
In Latest Fundraise The launch event witnessed the participation of
esteemed speakers who praised the Lightningbox initiative. Chris
Fabian, Co-Lead Giga (UNICEF), expressed delight at witnessing
increased corporate interest in innovation and blockchain within
Geneva. Similarly, Philippe Meyer, Head of Digital &
Blockchain Solutions at BBVA, emphasized the importance of
blockchain technology disseminating across industries, including
banking and finance, to optimize operational flows and support the
emerging Industry 4.0. Featured image from DALL-E, chart from
TradingView.com
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