Thanks to the establishment of the first crypto companies in the Zug area from 2013, the term "Crypto Valley" was soon born in reference to "Silicon Valley". Today, the region is known as one of the world's leading blockchain hubs. An interview with Swiss crypto entrepreneur Sheraz Ahmed.
Thanks to politics and regulation, Switzerland was able to create the necessary legal certainty for a flourishing ecosystem around blockchain and cryptocurrencies at an early stage. The regulator, which provides the necessary legal certainty for an industry, has been active since 2015. In addition, there were supporting organisations that contributed to cross-company collaboration. A view of the ecosystem from the perspective of an entrepreneur.
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CVJ.CH: How did you get started with crypto?
Sheraz Ahmed: I got involved in crypto at university, trading mainly from a technical analysis perspective. I was dabbling in forex and was interested in financial investing. However, as a student with only a few hundred euros, the traditional financial investing world wasn’t very accessible. I had a friend who attended Draper University in 2014. Tim Draper, a well-known Bitcoin enthusiast, inspired him to put all his bar mitzvah money into Bitcoin in 2014. He never looked back. We were flatmates at university, and he kept telling me about this "internet money" that was giving him 2-3x returns.
I got more involved, initially from a pure technological standpoint, seeing similarities with Massively Multiplayer Online Role-Playing Games (MMORPGs). As part of trading, I explored technical and fundamental analysis, reading more about projects and the innovative energy in the industry. This energy was quite new and less tainted by scams. I saw it as an exciting alternative to traditional career paths like consultancy or banking, which felt very structured and limiting.
And when did that hobby turn into a profession?
Eventually, I joined a firm in the Crypto Valley in 2017. Our mission was to work on tokenization of assets, democratization of investment solutions, and more. The regulatory perspective made cross-border securities challenging, although easier now than ten years ago. I stayed in the Crypto Valley, advising startups, helping with marketing, investor relations, and business development.
At the World Economic Forum in 2020, I met Jerome Bailly, the then-executive director of the Crypto Valley Association (CVA). He was building his team and offered me the role of co-executive director alongside Nikki. She handled marketing and events, while I focused on business development and member management. We worked together for several years. I now hold a non-executive role as the ecosystem director. During the pandemic, I founded STORM Partners to support individuals and companies in the space.
What are you mainly up to now?
With STORM Partners, I want to address two main issues: the lack of trust in the industry and the abundance of intermediaries who often lack expertise. We created an all-in-one solution by bringing together marketing experts, investor relations specialists, legal advisors, and compliance officers under one roof. This allows for cohesive strategies and better support for our clients. Over the past four years, we have grown to a team of 21 members, primarily based in Switzerland, with teams in Italy, London, Spain, and other locations. We focus mainly on European markets but also have clients globally. Our clientele ranges from startups and scale-ups to corporates, governments, and banks.
My mission is to provide tools for entrepreneurs to achieve their objectives in Web3. We recently founded an innovation center in Geneva called Decentral House, offering co-working spaces, event spaces, and administrative services for early-stage companies. Additionally, we have Sky Financial, a regulated financial intermediary, to assist with crypto-fiat transactions, syndication of private sales, and structuring financial products. We aim to support ecosystems in developing sustainably, managing treasuries, and deploying capital effectively. By focusing on their needs, we can help startups and corporates adopt new technologies, contributing to the broader digital economy.
What are the main pain points you see with projects?
Early-stage projects face many challenges. No company can cover everything, so it's essential to acknowledge gaps and either fill them or focus on more critical issues. Collaboration and humility are crucial, as is finding reliable partners who can provide long-term support. Trust is vital; we must be vigilant and honest with each other to avoid past mistakes like the FTX and Terra/Luna incidents, that set us back significantly. We should adopt Switzerland's "slow and steady" approach, not trying to do everything one go.
What trends do you see emerging in the next few years?
Decentralized Physical Infrastructure Networks (DePIN) and tokenization are interesting trends. While tokenization has been around for ten years, improvements in legislation and technology will lead to more widespread adoption. Institutional, enterprise, and governmental use of blockchain technology will increase, though the impact on public crypto markets remains to be seen.
Non-fungible tokens (NFTs) will also continue to play a significant role. Despite skepticism about the metaverse, virtual reality and related technologies will evolve and become integral to the future. The pace of innovation will accelerate with AI, which will eventually surpass human capabilities in many areas. Today, the environment is maturing, with more neutral sentiment compared to the volatile emotions of past bull and bear markets. This maturity and the influx of new actors make it an exciting time for the industry.
Sheraz Ahmed is the managing partner of STORM Partners and Ecosystem Director of the Crypto Valley Association (CVA). Experienced with an insightful understanding of innovation, Sheraz has advised hundreds of organizations on the implementation of modern practices to further their business objectives. He drives growth, collaboration and integrity across the global blockchain ecosystem!
