Liechtenstein was honored for its efforts to create a blockchain-friendly ecosystem and the world’s first comprehensive blockchain regulatory framework. The Blockchain Act, which will be put into force in 2019, was at the center of the regulatory debate during the conference.

The Crypto Challenge Forum in London, which was held from 28th to 30th October, has come to an end. This event took place in the Central Hall Westminster in London, connecting global thought leaders, policy makers, investors and startups from across the world.

The crowd, which gathered not far from the House of Parliament, has great ambitions. “Blockchain and the Future of Humanity: Economy. Environment. Ethics.” was the title of the conference. Amongst the speakers were selected authorities such as Bobby Lee, founder of BTCC, Vinay Gupta, CEO of Mattereum and two members of the British parliament.

The objective of the forum was to discuss and push forward some of the main industry issues: “The regulatory framework of cryptocurrencies”, “the future of digital investment” and “blockchain and sustainable development” were major agenda items.

Liechtenstein’s Blockchain Act received great attention during the event

Creating a regulatory framework for blockchain technology was one of the main agenda points during the three days conference. Crypto-friendly governments were invited to showcase their ecosystems and blockchain initiatives, providing inspiration for other nations to follow.

Liechtenstein received a great deal of attention during this part of the conference. Dr. Thomas Dünser, who represented the Liechtenstein government, participated in a lively debate on the panel “Blockchain Space: Is the Regulation Lagging Behind?” He was joined by Liechtenstein-based blockchain lawyer Thomas Nägele, from Nägele Attorneys at Law.

Especially Liechtenstein’s newly proposed blockchain regulation, the so-called Blockchain Act, was vividly discussed during this part of the conference. Finally, Liechtenstein was honored with the “2018 Blockchain Ecosystem of the Year” Award, appreciating Liechtenstein’s outstanding efforts in creating a supportive blockchain ecosystem.

While Liechtenstein has established itself as Europe’s blockchain pioneer, British lawmakers present at the conference were less optimistic.

Eddie Hughes, member of the British parliament, said, “Unfortunately, I don’t have great faith in the government leading and getting out ahead. The recent select committee report from the Treasury select committee suggested that they didn’t seem to have great faith in the idea of a blockchain or a crypto asset, although they completely understand there are innovations going on across the world and they’re scratching their heads and they’re vaguely interested in it.”

Frequent blockchain conferences and meetups are a major advantage of being part of Liechtenstein’s blockchain community

Another highlight of the event was the award of the “ICO of the Year” which was given to Berlin-based blockchain firm HYGH. The company is creating a decentralized screen network, enabling users to either launch an advert themselves or making their screen available for advertisers to use.

The conference also featured an “Inverstor’s Hub”, where blockchain startups had the chance to network with policy makers, investment funds, VC firms and family offices with a total of US$ 70 billion under management.

Conferences like the Crypto Challenge Forum are useful for the industry’s development. Liechtenstein regularly hosts such blockchain events, which offer the opportunity to network and exchange ideas with other startups and policy makers. Take a look at our section “upcoming events,” we will keep you informed.