Blockchain technology is on the advance. Of course, as founder and CEO of Crypto Valley Venture Capital (CV VC), I am not entirely unbiased by the revolutionary potential of the technology. But the many conversations I have had with entrepreneurs, founders, investors, regulators, central bankers and politicians at Crypto Valley Week in Davos and the Crypto Finance Conference in St. Moritz show: Distributed Ledger Technology has arrived in reality — big time.
First of all, I was once again impressed by China’s speed and assertiveness. The country is in the process of connecting 70 Smart Cities in the Blockchain, which will make it by far the largest Blockchain-based network in the world. Together with Artificial Intelligence, blockchain is a key technology in China. In addition, Beijing is expected to introduce its own stablecoin, the first in the world, this year. The goal is clear: The People’s Republic of China will celebrate its 100th birthday in 2049 and wants to shine as an unlimited global economic and technological power.
The other technological world power, the USA, cannot keep up with the vast blockchain tempo. At the Crypto Finance Conference in St. Moritz, the two crypto brothers Cameron and Tyler Winklevoss said that for the first time in 25 years, the US is not at the forefront of a technological leap as a pacesetter and innovator. This was confirmed by Hester Pierce, Commissioner of the US Securities and Exchange Commission (SEC). She openly admitted that the regulatory environment in the US is not innovation-friendly. Regulation is necessary, the Winkelvoss brothers agree with Hester Pierce. But: “We have not done a good job of creating a good framework for crypto and blockchain companies,” said Pierce.
What does this mean for Europe and specifically for Crypto Valley? Davos, St. Moritz and the latest CV VC Top 50 Report show that we are well-positioned. Together with Liechtenstein, Switzerland offers one of the most advanced and reliable blockchain jurisdictions, enabling innovation and new business models. Second, the number of companies and jobs is growing. Global players are settling in Switzerland or seeking access to Crypto Valley. And thirdly, a global network is emerging that links the most innovative blockchain hubs in the world. At our CV Summit during Crypto Valley Week, we announced a strategic partnership with DMCC Dubai to launch a local Crypto Valley in the second half of the year with the opening of a new CV Lab site in the Emirate. We are also in close contact with investors and entrepreneurs in Africa and China.
January was an intense month with excellent international conferences in St. Moritz and Davos. The fact that so many top-class guests come to Switzerland shows that Switzerland and Crypto Valley are visibly positioned on the world map, that we are well networked globally and that we are well perceived in terms of blockchain innovations and regulation.