Blockchain service provider STORM Partners made a big profit announcement during the Web3Fest, together 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 one Web3 Sandbox, and moved 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 enables large organizations to leverage Web3 tools and build new solutions.
Initially, Lightningbox will focus on three pillars inherent to the Geneva landscape: Impact, Consumer and Finance, with Life Sciences to follow soon. The selection of these focus areas stems from substantial demand from local traditional players looking for deeper involvement in the digital economy.
STORM Partners also works 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, the infrastructure of MultiversX and law firm Walder Wyss.
Lightningbox aims to turn ideas into reality through a four-phase development process. The initiative starts with brainstorming and workshops, 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 and brought each other together industry leadersentrepreneurs and representatives of 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, welcomed the announcement. He emphasized the need to strengthen the blockchain industry by providing a hub for “bright minds and disruptive projects” in the world decentralized applications (dApps) space.
It was also announced that STORM Partners will be based in Decentral House in Geneva, which is considered the epicenter of a large ecosystem that promotes 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 drive this digital transformation. Local organizations striving for global impact, such as the World Economic Forum, the United Nations and many private banks, make Geneva the perfect location to drive and amplify the growth of blockchain worldwide.
The launch event witnessed the participation of esteemed speakers who praised the Lightningbox initiative. Chris Fabian, Co-Lead Giga (UNICEF), expressed his delight at the increased corporate interest in innovation and blockchain in Geneva.
Similarly, Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA, emphasized the importance of blockchain technology spread across sectors, including banking and finance, to optimize operational flows and support the emerging Industry 4.0.
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