In recent times, cryptocurrency is used as a digital currency, a payment system, an investment method and a technology tool. However, its volatile nature and its use in illicit markets has created a sort of anxiety for many.
Though the frenzy continues, industry leaders and experts are trying to consolidate the cryptosystem into a more secure, robust platform. But first, it has to make sense for the uninitiated and the prospect buyers to believe in the system and promote its value through purchase. For this reason, there are dialogue platforms such as Europe’s premier cryptocurrency and blockchain conference: The Crypto Summit 2018 was held in March in Zurich, Switzerland. This year’s Summit gathered global influencers, policy makers, investors and entrepreneurs, who have the ability to shape the future of crypto and share the right kind of industry knowledge.
What is the defining core of the Crypto Summit?
The purpose of the Crypto Summit is to assemble parties actively involved with the process, which includes the startups, opinion leaders, policy makers and politicians driving the legal side of the process. Switzerland has developed to be the hub for crypto in the recent years because of the government’s more liberal approach in terms of regulation, which also attracts a lot of companies in this space. This country is set to become one of the leaders of the blockchain revolution. And that’s why not having the conference in Switzerland won’t be an option.
Since I have been in this industry for last five years and of course, have a global network with people who work in this industry I have invited them all to come to Switzerland this time.
What are topics discussed at the event?
The topics largely extended to what needs to be done to establish Switzerland even more solidly as a global hub for blockchain technology—the kind of regulations and institutions we need to create here to become a profound leader in this space. The topic of focus is shaping the crypto together, which is the whole purpose of the dialogue.between stakeholders and significant others. It is also about how to conduct ICO and what it takes to succeed ICO. On the other hand, there are also technology topics such as centralising exchanges and security of assets.
Switzerland became home to one suit of all good ICO projects. Recently ICO guidelines was issued to understand how to approach them.
What is it about Swiss finance culture that lends itself to digital currencies?
Switzerland for the last 200 years was in a very privileged capacity. It was all about wealth management for the rich people of the world, who brought their wealth here to protect it from corrupt regimes in their countries. Previously, ff you needed to open a bank account here in Switzerland, you need to bring five million or so. Now this is changing. Cryptocurrency such as bitcoin is democratised because anyone can purchase it from anywhere in the world and can be transferred to any address with no boundaries.
So what does it mean for us in Switzerland? It means a lot of companies like Smart Valor are building next generation platforms, which will be accessible to crypto currencies. This system used to be restricted only to the rich, and now it is available for everybody. And that is why we talk about democratization of access as well.
Why is the cryptocurrency world such a male-dominated space?
I think it’s not so relevant to only cryptocurrency. Overall, in the startup or tech space, there are still very few women. It is also partially driven by the fact that venture capitalists are male-dominated companies. There are statistics which show findings that when a team is managed by a woman, the possibility of getting money from venture capitalists is significantly reduced to six percent. However, I see a change in this. If you go for ICO people don’t really care about the gender as long as you have a great idea and the funding will take place. This is why ICO is a great democratisation of funding for startups.
You can read the full interview in our May issue.