Cardano and MultiversX Join Web3 Innovation Initiative in Geneva with Launch of Lightningbox

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.

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The initiative aims to enable large enterprises in Europe to harness the potential of blockchain technology and lead their digital transformation efforts.

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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.

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

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