Storm Partners has launched the Web3 Innovation Sandbox in Geneva.
Storm Partners has announced the launch of a new Web3 Innovation Sandbox to strengthen mass blockchain adoption and boost Web3 innovation in Geneva.
Dubbed “Lightningbox,” the Swiss blockchain provider's sandbox aims to help large organizations harness the power of blockchain and foster innovation among industry leaders.
Blockchain Sandbox aims to create a trusted environment for blockchain experimentation by providing developers and startups with enterprise-grade Web3 tools to build more innovative use cases.
Lightningbox aims to serve as an innovation hub for the brightest minds in the Web3, said Sheraz Ahmed, Managing Partner of Storm Partners:
“We are witnessing a major technical revolution, driven primarily by the development of emerging technologies, which is reshaping industries globally.”
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Circle and Hacken join as main Lightning Box contributors
The new initiative was announced at Decentral House's Web3 Corporate Innovation Day in Geneva.
Early contributors to the sandbox include Circle, the world's second largest stablecoin USD Coin (USDC), cybersecurity firm Hacken, and blockchain infrastructure provider MultiversX.
Contributors have given internal and technological resources to Sandbox, a value in the mid-six figures. The exact amount has not been disclosed.
The Web3 Innovation Sandbox has identified three pillars as primary focus: impact, consumer and finance. The fourth pillar, life sciences, will follow in the coming months. The pillars were selected based on local demand from traditional and Web3 companies.
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Geneva: The next emerging crypto hub?
Thanks to the amount of tech-focused brainpower and its strategic location, Geneva is an ideal place to further develop blockchain innovation, said Storm Partners' Ahmed. he said:
“Local organizations striving for global influence, such as the World Economic Forum, the United Nations and many private banks, make Geneva an ideal place to lead and expand blockchain development globally.
The growth of blockchain innovation could propel Geneva through financial and technological development, said Chris Fabian, Co-CEO of Giga. he said:
“Giga is excited to see more corporate interest in innovation and blockchain in Geneva. We think the blockchain ecosystem will help propel Geneva to new heights in finance, international communications and technology.”
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