This Tuesday, September 12, the 2nd edition of the Web3Connect crypto event was held in Geneva. Tremplin.io summarizes the key moments of this intense day of debates.
Welcome from the administrative councilor of the City of Geneva
The crypto event begins with a welcome from Mr. Sami Kanaan, administrative advisor of Geneva. The aim of this representation is to show the commitment and presence of Geneva, and more generally of Switzerland, in the blockchain world. This direction will also be continued throughout the day, with rather explicit panel topics: “Legal Framework in Switzerland”; “Web3 in Switzerland” or even “Swiss scene”.
With the undeniable success of his crypto event, Vincent Pignon and his company WeCan Group, organizer of the Web3Connect, strike a big blow for their influence in Switzerland. High-profile guests were notably seen on stage such as Julian La Picque, CFO of Chiliz, Paolo Bortolin, in charge of Lugano’s plan B, whose interview you can find here, or even Jérôme Bailly, Vice-President of Crypto Valley Association.
A justified success given the relevance of the debates, varied between pragmatism and optimism for the future. NFT, Metaverse, legal framework, cooperation with banks, investments… There was something for all tastes and profiles.
Talent and regulations as main barriers
The barriers of Web3 nevertheless remain present, despite the present world which could suggest nascent adoption. The lack of training and qualified people for the development of blockchain-based solutions is clearly one of the primary concerns of HR managers at SEBA Bank and Swissborg. According to them, “the crucial lack of business analysts specialized in on-chain data as well as developers” is a scourge that slows down the innovation that Web3 tries to bring. It is very complicated to find people and even more so people who will be 100% invested in the project as a start-up requires when it is launched, and this accumulation of small imperfect details makes recruitment very complex.
The legal framework is also a very important subject which limits founders and managers in their progress. Fortunately, according to Andreas Glarner, Partner at MM Legal, governments are actively working on clarifications of the framework to help businesses move forward, but they are taking their time because they also have to defend their own interests. Several countries are already positioned as pioneers in legislation, but for the moment, this remains marginal.
Switzerland as a crypto and Web3 hub
As explained in the introduction, the event was more focused on Switzerland’s position in the ecosystem. “Web3 in Switzerland”, one of the most followed panels of the event, highlighted this subject. A quick presentation of Lugano’s plan B directly set the tone for the direction of the panel. Switzerland has an undeniable lead in the adaptation of this new technology, according to Paolo Bortolin. An opinion shared by Jérôme Bailly, who explains that it is thanks to this tendency to accept innovation that the Crypto Valley Association wishes to consolidate in Switzerland, despite the attractiveness of certain other areas.
It must be said that in the past, Switzerland was able to attract blockchain entrepreneurs, and then keep them. Work favored by the commitment of incubators and associations like Women in Web3, represented by Elodie Jallet during this panel. As with everything, common efforts are required, and the place that the Swiss nation has been able to take is the fruit of this adoption effort maintained for several years by all the players in the small country.
Web3Connect was proof of the dynamism of builders in Switzerland, and we can only agree with the speakers when we see the world present at the Fédération des Entreprises Romandes this Tuesday.
Tokenization is gaining ground
Tokenization is a concept that has started to take up more and more space in professional discussions. This use case, having been qualified as “ new generation of markets » by the boss of Blackrock last March, is an undeniable vector of adoption by institutional players. According to Laurent Marochini, head of innovation at Société Générale in Luxembourg, there is already a lot of work being done by banks and other financial institutes. Collaborations with very large players have emerged to integrate faster and less expensive solutions to banking services.
Statements echo the announcement of the collaboration between Taurus, a Geneva company specializing in the creation of infrastructure for tokenization, and Deutsche Bank, in order to offer investment management services for retail clients.
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