Storm Partners launches Web3 innovation sandbox in Geneva

Storm Partners announced the launch of a new Web3 innovation sandbox, to bolster mass blockchain adoption and elevate Web3 innovation in Geneva.The Swiss blockchain solutions provider’s sandbox, dubbed “Lightningbox,” aims to help large organizations harness the power of blockchain and bolster innovation among industry leaders.The blockchain sandbox aims to create a trusted environment for blockchain experimentation by offering institutional-grade Web3 tools for builders and startups to build more innovative use cases.Lightningbox aims to serve as an innovation hub for some of the brightest minds in Web3, according to Sheraz Ahmed, the managing partner of Storm Partners, who said:Related: Citron no longer short on GME, cites ‘market’s irrationality’Circle and Hacken join as core Lightningbox contributorsThe new initiative was announced on stage during Decentral House’s Web3 Corporate Innovation Day in Geneva.Early contributors to the sandbox include Circle, the issuer of the world’s second-largest stablecoin, (USDC), cybersecurity firm Hacken, and blockchain infrastructure provider MultiversX.The contributors have dedicated internal and technological resources to the sandbox amounting to values in the mid-six figures. The exact amount was not disclosed.The Web3 innovation sandbox has highlighted three pillars as its initial focus, including impact, consumer, and finance. The fourth pillar, life sciences, will follow suit in the coming months. The pillars were chosen based on local demand from traditional and Web3 companies.Related: Bitcoin whale accumulation reaches pre-2020 bull run levels — Is BTC set to break $70K?Geneva: the next emerging crypto hub?Thanks to the amount of tech-focused brainpower and its strategic location, Geneva is an ideal location to foster more blockchain innovation, according to Storm Partners’ Ahmed. He said:Growing blockchain innovation could propel Geneva both in terms of finance and technological development, according to Chris Fabian, the co-lead of Giga. He said:Magazine: Roaring Kitty’s GME shares hit $1B, BTC open interest soars, and other news: Hodler’s Digest, June 2–8