Token Summit Liechtenstein October 13th 2022
The TOKEN SUMMIT was informative in discussing the legal fundamentals at home and abroad, but also provided a preview of the underlying technology “comprehensible”. What is already possible today and, above all, what makes sense? The one day event provided a glimpse into where the customer journey is going, and whether the financial centers of the future be fully digitalized; which metaverse will prevail, is it all just a gimmick? Many speakers, self-proclaimed experts with many years of experience in these areas shared their experiences and ideas of what their crystal ball shows them.
The summit created a unique networking opportunity, allowing one to get in touch with the Liechtenstein Blockchain-Ecosystem made up of Exchanges, Banks, Layer-1s, DAPP-Developers, Enthusiasts, Advisors, Regulators and Government officials, as well as the speakers. However, these summits prove to be ever transforming the thinking towards the problems that need to be solved in bridging the physical and the digital. Liechtenstein is amongst the smallest countries in the world, but their is one very unmistakable characteristic held by this jurisdiction, which is home to only 39,000 residents of which only 5,500 are in Vaduz; and that is the genuineness of the policy-makers to take action to move forward. Liechtenstein is the first nation to specifically regulate the token economy by passing the Token and Trustworthy Technology Service Providers Act (also known as the Blockchain Act or the Liechtenstein Blockchain Act).
The Liechtenstein Blockchain Act passed its second hearing in October 2019 and took effect on January 1, 2020. The new blockchain law in Liechtenstein enables tokenization of all types of assets and rights without the need to circumvent the law and improves the country’s capacity to host digital tokens legally. As a result, blockchain entrepreneurs and digital technology enthusiasts get attracted to set up businesses in Liechtenstein. Another characteristic which Sync is exploring is the fact that worldwide, the Principality of Liechtenstein is the top location for charitable foundations and philanthropic engagement. How much wealth of the worlds elite and leaders reside in Liechtenstein ? It is rumored that a token is being created, which can improve the quality of life for the majority that have little or no access to electricity.