CV Summit 2022 epitomizes CV Labs’ contribution to connecting and educating the global blockchain ecosystem. The experiential event encouraged individuals in the space to collaborate and pursue a more digitally robust and inclusive future for the world and its inhabitants.
The productivity and utility of blockchain technology were on display at the Summit, with numerous examples of use cases illustrating the revolutionary qualities of the technology.
“It's important to take note of the Googles and Visas entering the space. This is very insightful. If you look at the early movers in Crypto Valley, the pioneers of the blockchain space, they have progressed to the next stage of their journeys and showcased how they are tackling the various problems they are solving. CV Summit saw the collaboration of different worlds, the old and the new, the traditional and the informal. These worlds are open to collaboration, learning from each other, and together contributing to the fantastic story that is blockchain technology.” - Mathias Ruch, Co-Founder and CEO of CV VC.
Switzerland is renowned for many things, including food, pharma, watch brands, and banking systems. CV Summit, yet again, cements blockchain and Web3 as an industry of which Switzerland is equally proud and further highlights Switzerland’s blockchain notoriety.
The Merge, which took place today, saw Swiss-headquartered Ethereum move from proof-of-work to proof-of-stake, dramatically decreasing its energy consumption by ~99.95%. When looking at the conversation about the maturing blockchain industry, such moves by Ethereum epitomize the industry's “coming of age.”
In his welcoming address, Karl Kobelt, President of the City of Zug, touched on current and past geopolitics and the current global energy crisis.
“A year ago I spoke in this space about the pandemic. Today we are facing a new crisis. Energy prices are exploding, and we even see ourselves threatened by an electricity shortage. Energy-intensive blockchain technology must also deal with this problem. And it does. The fact that at least one cryptocurrency provider has announced that we'll be able to operate its blockchain with considerably less energy than before, clearly shows you that the industry has a future for sure.”
This year’s summit did not only consist of exciting panels and keynote speeches happening on the main stage. CV Summit 2022 also boasted numerous interactive zones that enable attendees to immerse themselves in the exciting world of blockchain technology.
The Startup Zone, hosted by Google Cloud, featured exciting blockchain startups and their passionate, easy-to-approach founders. Attendees engaged with these founders, asking questions about the challenges they are working on and the opportunities they are exploring in the blockchain space. Google Cloud engaged with attendees, expanding on how Web 3.0 companies could use their Cloud offering.
CYBERA Global Inc., which recently secured $5 million in an oversubscribed equity round with CV VC alongside other investors and VCs that participated, was one of the many companies in the Startup Zone.
The CV Summit Networking Lounge, sponsored by Portofino, hosted an interactive experience through a mobile application called Brella, which uses AI matchmaking technology. Attendees set up profiles and add the companies they work for and their respective categories of interest. The AI then matches attendees who are looking to discuss similar topics. With over 800 attendees, the Brella app served as a great networking sidekick to ensure fruitful conversations took place in the limited time available.
Sabinije von Gaffke, MC for the Summit, eloquently reflected on topics from Day 1 of the Summit.
“We discussed utility rather than speculation. This is a new era of adoption. Maturity is increasing. The crypto winter we're currently experiencing is a challenge and a possibility for both the crypto sector and investors to take a step back and reflect on which projects are here for the long run. This technology can enable a better future. We are learning along the way. Collaboration is essential for this to progress in the right direction.”
Alexandre Kech, Director, Blockchain and Digital Asset at Citi Ventures, said, “The future of banking and finance will include tokenized currencies, securities, and other assets. It is critical for the regulated sector to collaborate and ensure we do not end up with a chaos of non-interoperable blockchain implementations.”
Adrian Fritz, Research Associate at 21Shares, while discussing DeFi, adequately noted, “The two worlds, DeFi, and traditional finance, will come together and learn from each other. Until now, they were separate. DeFi reveals the inefficiencies in traditional finance, but DeFi can learn from traditional finance. It will be a success because of the talent that is coming together, people who work with passion. The future is bright!”
“The Challenges with CBDCs, such as agility, privacy, and access, outweigh the benefits right now. Private stablecoins are better equipped with tech-forward, agility, and global populations. A future payment system with stablecoins is coming." - Teana Baker-Taylor, Vice President of Policy & Regulatory Strategy, UK/EU, at Circle.
On day 1 of the Summit, Olaf Hannemann, Co-Founder and CIO of CV VC touched on CV VC’s move to Africa. It's evident how Africa is embracing blockchain technology and reshaping the landscape. Africa has one of the youngest populations and has proven its willingness to embrace technology.
Mohammed Abdou, Founder and CEO of Pravica, was asked to expand on how African startups can leapfrog and take advantage of this Web 3 technology.
“I think we have significant advantages in Africa. Firstly, the incredible talent on the continent. We have a great mindset. We have great talent and great developers, which are the real assets when building a successful startup or a successful company, especially tech companies. The second thing is cost efficiency. When you start building a team to develop any idea, think about the cost efficiencies in Africa. The cost efficiency of building a startup in Africa is one of the most significant advantages. Cost efficiency and talent acquisition are the most important things when building startups in Africa.”
Yosuke Yoshida, Co-CEO of Emurgo Africa, gave his opinion of the continent. “We see Africa as a place where blockchain can solve problems and show the world what blockchain can do. Africa is where things can start. There are real use cases in Africa which can be exported to the rest of the world.”
Sandi Bitenc, CEO of 3Air, shared his insights on his time in Africa. “Africa will be the biggest and fastest adopter of blockchain tech due to the sheer need for it! Many things need to be solved in Africa, regulation, corruption, etc. Africa has the chance to come out of this on top.”
Gideon Greaves shared an interesting observation on his time at CV VC during the company's expansion to Africa. “What's incredible about the founders we've invested in is that they are emotionally attached to their projects, and failure for them is not an option.” To further add to his bullish opinion of Africa, Gideon stated,
“Today, we talk about Africa being the new Bitcoin.”
In the final panel of the CV Summit, unicorns in Crypto Valley were the topic of discussion.
Ralf Kubli, Board Member of the Casper Association, was asked what Crypto Valley offers the global blockchain ecosystem when it comes to developing the tech itself.
“Here, we have a very vibrant ecosystem where you find the right people to have many answers to your questions. Regulatory clarity is another one. It's the concentration of founders and builders that want to contribute to a safe and transparent environment and build the next generation of commerce."
Brian Gallagher, Co-Founder of Partisia Blockchain, gave his thoughts on what separated unicorns from other companies. “I think it's going to be who brings over a traditional economy into web3. New use cases are coming. If you can bring these types of use cases onto a scalable blockchain built with privacy and solving a major gap, then you'll see unicorns.”
CV Summit is distinct in the global blockchain conference circuit as it is less about speculation and more about utility. In short, this utility makes the world a better place for humanity. It was evident at CV Summit that this is not an evangelical call but an actual utility fact. CV Summit had over 70 speakers from both Swiss and Global leaders. Perhaps the best way of seeing what CV Summit represents is through the lens of the startups that CV Labs nurtures on behalf of its venture capital pillar, CV VC.
Thank you to the partners and sponsors that made the CV Summit 2022 possible. Collaboration in the blockchain space is rife and evident in the efforts that brought this event to fruition.
In closing CV Summit, Mathias Ruch, CEO and Co-Founder of CV VC, said,
“How would the world be without the invention of the light bulb? Dark. How might the world be without blockchain and the other underpinning techs of the incoming iteration of the internet, Web3? Stark. To ensure an illuminating and encouraging future amid geopolitical turmoil, raging inflationary effects, and crushing global financial elements, we felt it important to bring the utility agenda to the forefront via CV Summit. The space is maturing and professionalizing. The merge today was successful after years of preparation. I call incumbent industries to no longer hold blockchain tech on probation but to embrace it so as not to miss out and be on the losing side“
CV Labs illuminates the utility of blockchain technology at the 2022 CV Summit.
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