Storm Partners announced the launch of a new Web3 Innovation Sandbox, to boost…

Storm Partners has announced the launch of a new Web3 Innovation Sandbox, to promote the widespread adoption of blockchain technology and increase the visibility of Web3 innovation in Geneva.

The Swiss blockchain solutions provider’s sandbox, called “Lightningbox”, aims to help large companies harness the power of blockchain and foster innovation among industry leaders.

The Blockchain Sandbox aims to create a reliable environment for blockchain experimentation by providing builders and startups with enterprise-level Web3 tools to create more innovative use cases.

Shiraz Ahmed, Managing Partner of STORM Partners at Decentral House.

Lightningbox aims to serve as an innovation hub for some of the brightest minds in Web3, according to Shiraz Ahmed, Managing Partner of Storm Partners, who said:

“We are witnessing a major technological revolution, driven primarily by advances in emerging technologies, that is reshaping industries globally. »

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Circle and Hacken become the main shareholders of Lightningbox

The new initiative was announced on stage during the Web3 Corporate Innovation Day organized by Decentral House in Geneva.

Early contributors to the Sandbox include Circle, issuer of the world’s second-largest stablecoin (USDC), cybersecurity firm Hacken, and blockchain infrastructure provider MultiversX.

Shareholders have committed internal and technological resources to the sandbox for mid-six-figure values. The exact amount has not been revealed.

The Web3 Innovation Sandbox highlighted three pillars as its main focus, including impact, consumption and finance. The fourth pillar, life sciences, will follow in the coming months. The pillars were chosen based on local demand from traditional and Web3 businesses.

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Geneva: the next emerging cryptocurrency hub?

According to Ahmed of Storm Partners, with its technology-focused intellectual capabilities and strategic location, Geneva is an ideal location to foster more blockchain innovation. he said:

“Local organizations striving for global impact, such as the World Economic Forum, the United Nations, and many private banks, make Geneva the ideal location to guide and amplify the growth of blockchain around the world. »

Increased innovation in blockchain could push Geneva in terms of funding and technology development, according to Chris Fabian, co-president of Giga. he said:

“Giga is very pleased to see growing business interest in innovation and blockchain technology in Geneva. “We believe the blockchain ecosystem can help Geneva reach new heights in finance, international relations and technology.”

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