Recently, the Lugano Business Forum, organized by the Blockchain Association of Ukraine, Ukrainian-Swiss Business Association, and Schweizerischer Gewerbeverband SVG, brought together industry leaders, experts, investors, and government officials from across Europe and worldwide. The event aimed to provide representatives of the European business community with complete information about opportunities and projects that can be implemented at the stage of the post-war reconstruction of Ukraine in partnership with Ukrainian businesses.

Additionally, several panel discussions took place to delve into the evolving landscape of cryptocurrencies, digital identity, decentralization, and more. Among the distinguished attendees was TeQatlas's CEO, who was engaged in one of the most exciting and thought-provoking panels: "FinTech, Blockchain & Crypto: is there future?".

This blog post will explore the insights and takeaways of TeQatlas's Founder & CEO, Ruslan Gavrilyuk, his visit to the Lugano Business Forum, and other essential topics debated.

1. Cryptocurrencies: An Alternative and Effective Means of Payment.

One of the key areas of focus at the Lugano Business Forum was the increasing acceptance and adoption of cryptocurrencies as a viable alternative to traditional payment methods. The panel discussion highlighted the growing barriers, such as regulatory challenges and infrastructure development, that still need to be overcome.

Despite these hurdles, cryptocurrencies continue to attract a growing number of users and gain momentum toward mass adoption. Along with other discussants, TeQatlas's CEO emphasized embracing this technological advancement within an investment management area and exploring its potential benefits for businesses and consumers.

2. Tokenization: Slow and complicated processes, and expensive implementation.

Tokenization, representing assets or rights on the blockchain, was also a significant subject of discussion. While its potential benefits, such as increased accessibility to markets, all the participants expressed concerns about its implementation's slow progress, complicated processes, and high costs.

Our Founder & CEO, Ruslan Gavrilyuk, stressed the need for collaborative efforts to streamline tokenization processes and make them more user-friendly, cost-effective, and scalable.

3. The Necessity of Digital Identity and Decentralization in Governance

Another prominent topic discussed at the Forum was the necessity of digital identity solutions in the era of increasing digital transactions. The importance of secure and decentralized systems was acknowledged to ensure the integrity and privacy of individuals' identities. Furthermore, the concept of decentralization in governance through meritocratic Decentralized Autonomous Organizations (DAOs) was explored.

Ruslan Gavrilyuk highlighted the potential of decentralized governance models, especially in light of TeQatlas’s coming product updates and launches to enhance transparency, efficiency, and inclusivity across the investment management sector.

4. Central Bank Digital Currencies (CBDCs): Total Control or Efficient Instrument?

The potential of Central Bank Digital Currencies (CBDCs) to transform the financial landscape was also a point of focus. The panel’s participants debated on the advantages and disadvantages of CBDCs, expressing concerns about the growing surveillance and control and the potential benefits of reduced costs, increased efficiency, and financial inclusion. The partners encouraged a comprehensive analysis of CBDCs to ensure their deployment aligns with privacy, security, and user autonomy principles.

To conclude, the Lugano Business Forum proved to be a powerful platform for industry leaders, investors, and government officials to come together and exchange ideas not only on more global issues, including the post-war reconstruction of Ukraine, but also on dedicated topics, such as the future of technology and blockchain.

The event itself served as a reminder of the evolving landscape and the need for collaboration, innovation, and thoughtful regulation to shape a future that harnesses the full potential of all technologies while effectively addressing current challenges.

Ruslan Gavrilyuk, on behalf of the TeQatlas team, expresses gratitude for the invitation and to all the organizers and sponsors who contributed to the event with their commitment. Let's seize the opportunities and create a brighter future together!