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

Cardano and MultiversX are continuing to make waves in the crypto space as they join the Web3 Innovation Initiative in Geneva. The initiative was officially launched during the Web3Fest event in Switzerland’s “Crypto Valley.” One of the highlights of the announcement was the unveiling of “Lightningbox,” a new Web3 Sandbox by blockchain services provider STORM Partners.

The Lightningbox initiative aims to accelerate the adoption of blockchain technology by providing a trusted environment equipped with institutional-grade tools. Large enterprises in Europe will be able to leverage these tools and build new solutions, thereby leading their digital transformation efforts. The initiative will initially focus on three pillars: Impact, Consumer, and Finance, with Life Sciences to follow shortly.

To drive innovation within the Lightningbox ecosystem, STORM Partners has partnered with integration companies who have committed significant resources and technological expertise to the program. Notable early contributors include stablecoin issuer Circle, cybersecurity provider Hacken, MultiversX’s infrastructure, and law firm Walder Wyss.

The four-phase development process of Lightningbox will include brainstorming and workshops, observation and improvements, industry and community feedback, and testing and private launch campaigns. The announcement was made at Decentral House’s Web3-focused Corporate Innovation Day, which brought together industry leaders, entrepreneurs, and representatives from global brands.

Geneva is being positioned as a global blockchain hub, with STORM Partners locating its headquarters at Decentral House. Sheraz Ahmed, Managing Partner of STORM Partners and founder of Decentral House, believes that Geneva’s history of innovation and global institutions makes it the perfect location to amplify the growth of blockchain technology.

The launch event received praise from esteemed speakers, including Chris Fabian from UNICEF and Philippe Meyer from BBVA, who emphasized the importance of blockchain technology in driving innovation and optimizing operational flows across various industries.

Overall, the collaboration between Cardano, MultiversX, and other major projects in the crypto space within the Web3 Innovation Initiative aims to foster blockchain adoption and support the digital transformation efforts of large enterprises in Europe.