The Crypto Valley Association, the Swiss-based not-for-profit association supporting the development of Blockchain and cryptographic related technologies and businesses, today launched with a number of leading companies and startups as members, including ConsenSys, UBS, PwC, Thomson Reuters, Luxoft, Canton of Zug, and Lucerne University of Applied Sciences and Arts.
Switzerland has established itself as one of the world’s leading countries for digital innovation. Home to hundreds of multinational enterprises, technology companies, and financial institutions, the country boasts world-leading infrastructure, a sophisticated workforce, and one of the world’s most decentralized, stable and neutral political systems.
Headquartered in the Swiss canton of Zug, Crypto Valley Association is the independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading Blockchain and cryptographic ecosystem, working with government to foster the development of pioneering digital technologies in Switzerland and internationally. The association will support startups and established enterprises through policy recommendations, initiating and enabling research projects, and organizing conferences, hackathons, and other industry events.
Crypto Valley Association is led by President Oliver Bussmann, Founder and Managing Partner of Bussmann Advisory and ex-CIO of UBS and SAP; Vice President Vasily Suvorov, Vice President Technology Strategy Luxoft; and Treasurer Professor René Huesler, Director of the Lucerne School of Information Technology, Lucerne University of Applied Sciences and Arts.
“Blockchain and cryptographic related technologies and businesses are the wave of the future. With the founding of Crypto Valley Association, we are promoting more than a region: we have founded a global association as a base for the sector’s most innovative and forward thinking companies, further strengthening Switzerland’s position as a leading centre of innovation in this sector,” said Oliver Bussmann, President of Crypto Valley.
Crypto Valley Association is drawing venture capital, private equity, media, established IT firms, universities, and young startups. Network effects include attracting a highly skilled labor force and developing a rich ecosystem of resources and know-how for entrepreneurs and established players. Founding members include: PwC, Luxoft, UBS, ConsenSys, Thomson Reuters, Lucerne University, Lykke Corp, Monetas AG, iprotus GmbH, Inacta AG, bacademy, Canton Zug, Lakeside Business Center AG, Lakeside Partners AG, Leon Partners and the City of Zug.
“Emerging technology such as Blockchain and Crypto-technologies are at the heart of the digital transformation of Financial Services. PwC have explicitly made digital one of our key priorities and support a number of initiatives around the world to foster innovation. By supporting and being part of the Crypto Valley in Switzerland, we engage with a rapidly growing ecosystem and contribute our expertise and perspectives on how to leverage technology for positive change in society,” said Manoj Kashyap, Global FinTech Leader for PwC.
“As the largest Blockchain startup, ConsenSys is proud to support and be part of the Crypto Valley Association in Switzerland. Through this initiative, we look forward to opportunities to collaborate with likeminded organizations that understand the power of Blockchain to reshape our world for the better, and are committed to accelerating the adoption of decentralized technologies in use cases that range from government, to enterprise, to humanitarian impact,” said Joseph Lubin, Founder of ConsenSys.
Speaking on the announcement, Veronica Lange, Head of Innovation at UBS said, “Blockchain technology could transform the financial industry and help to create new and improved financial services for clients. Collaboration on innovation is core to our strategy and especially needed for Blockchain. UBS strongly supports activities to build out the FinTech ecosystem in Switzerland, and is pleased to join the Crypto Valley Association to drive further collaboration on Blockchain technology in the region.”
“We see Blockchain and Distributed Ledger Technologies at the core of Digital Transformation. Many of our clients across key verticals are embarking on pilot projects and are considering decentralized, breakthrough business models. The Crypto Valley Association is a valuable ecosystem for the exchange of ideas, and as a technology partner, Luxoft will benefit from constant involvement in diverse technical, business, legal, and academic communities. We are committed to further strengthening and expanding the Crypto Valley Association’s core mission through our technical and thought leadership contributions,” said Vasily Suvorov, Vice President Technology Strategy Luxoft.
“Thomson Reuters Labs around the world collaborate with customers to solve big problems and rapidly prototype and validate solutions across technologies. We have been particularly impressed with the calibre of individuals in the Zug ecosystem, with participants bringing novel ideas and engaging in more detailed discussions than in other forums. The formation of Crypto Valley Association has already engaged local government, startups, venture capital and larger corporations. This gives us access to a pipeline of interesting startups, talent and an opportunity to participate directly in initiatives driving the technology,” said David Craig, President Financial & Risk Business, Thomson Reuters.
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
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