With Wakanda 4.0 organising the 2nd edition of the Cryptoverse Summit on the 17th of May at the Intercontinental Hotel in Balaclava, Mauritius, CEO Benito Elisa tells us what to expect from this high-calibre event that is now firmly entrenched in the FinTech landscape of the island economy. As more and more Virtual Asset Service Providers (VASPs) consider Mauritius as their preferred jurisdiction to operate under a robust regulatory framework and take advantage of the certainty that it offers, read on to know how this event will help them to take a deeper dive into the virtual assets and blockchain ecosystem that the island economy lays at their feet:
- Can you please share with us the main objectives of the event?
The main objectives of the event are as follows:
- Bring clarity on the legal framework for VASPs and providers of Initial Token Offerings in Mauritius (the VAITOS Act 2021).
- Promote Mauritius as a safe and robust offshore jurisdiction.
- Promote Mauritius as a Virtual Asset-friendly jurisdiction.
- Give visibility to Virtual Assets and Blockchain projects in Mauritius & Africa.
- Provide guidance on how to account for Virtual Assets(update) and how to audit the blockchain.
In addition, it will be an occasion to gather the Web3 community in Mauritius as well as invite some international VASPs and high calibre speakers to Mauritius. Representatives of Management Companies in Mauritius would be able to meet with potential clients. It is a fact that more and more VASPs are considering Mauritius as the jurisdiction to apply for a Crypto licence. More details can be found on the website of the event at cryptoverse-summit.com.
- Who is the main sponsor of the Cryptoverse Summit and, what are the main benefits of sponsoring the event?
The Alliott Global Alliance (AGA) from the UK is the main event sponsor. It is the second consecutive year that the AGA is supporting the Cryptoverse Summit in Mauritius. We would like to express our sincere gratitude to the CEO of AGA, Mr. Giles Brake, for trusting Wakanda 4.0 and, also, a big thank you to Mr. Ashveen Gopee, who is the Managing Director of Lex Frontier Law Firm in Mauritius, a local member of the AGA. It is important to highlight that the AGA has members in 95 + countries around the world. The event will be livestreamed and invitations to attend the event online will be sent to all AGA members around the world. The main benefits of sponsoring the event are as follows:
- Increased visibility in the Web3 industry worldwide
- Pitch time
- Coverage through our Crypto Media Partners around the world
- Networking
- Potential of getting new business
Any company interested in sponsoring the Cryptoverse Summit should reach out to the Wakanda 4.0 Team for more information.
- We have seen, on your website, that ACCA Mauritius is the main partner of the event. Can you please tell us more about this partnership?
ACCA Mauritius is the Main Partner of the Cryptoverse Summit for the second consecutive year. We are very grateful to the Top Management of ACCA Mauritius for supporting us in organising such an event. Two of the main topics of the summit are Virtual Assets and Blockchain. Virtual Asset is a new class of asset that needs to be accounted for in the Financial Statements. Up to now, there is no specific IFRS on how to account for Virtual Assets. In addition to this, we should not forget that the Blockchain is a Distributed Ledger Technology (DLT). This is to tell you that accounting for Virtual Assets and auditing of the Blockchain are two very important topics that need to be discussed. Accountants and auditors should keep pace with the latest developments in the industry. ACCA Mauritius has also decided to allocate 8 CPD points to all members who attend the summit on-site.
4. How many participants are you expecting for this edition?
We are expecting around 150+ on-site participants and 150+ foreign online attendees from around the world. There will be around 50 international industry players who will join the event in Mauritius too.
5. Who will be the main speakers?
There will be high-calibre speakers from Mauritius and around the world who will intervene during the summit. Some international speakers will come to Mauritius in person and others will intervene online. Mr. Yosuke Yoshida, CEO of Emurgo, a co-founder of the leading blockchain platform Cardano, and Meike Kraustcheid, CEO of BlockXspace from Germany, are among those who have already confirmed their on-site participation for the event. We will have prominent FinTech Lawyers namely Diego Nunes (Argentina), Greg Pooler & Max Marmor (UK), Audra White (USA), Anthony Marrin (Hong-Kong) and Top Songul (France). We are also in talk with the representatives of the World Metaverse Council to have speakers intervene on the ‘Metaverse: Unlocking opportunities for businesses’ panel. Wakanda 4.0 will officially announce the list of speakers soon. Stay tuned!
6. Is the event MQA Approved? If yes, what does that mean for employers?
Yes, the summit is MQA Approved. Eligible employers will be able to sponsor their employees to attend the event and apply for HRDC refund. Of course, there are conditions that need to be respected. Employers should check their eligibility and the requirements of the HRDC.
7. Who will be the Chief Guests this year?
Official invitations have been sent to the Minister of Finance, Economic planning and development and the Minister of Financial Services & Good Governance. Stay tuned!
8. How many Panel Discussions will there be? And what will be the topics of discussion?
There will be 5 panel discussions on very interesting and important topics, namely:
- #1: The importance of Worldwide Compliance for the Crypto Industry.
- #2: Application of Blockchain for Business Processes.
- #3: Investment in Virtual Assets.
- #4: How to account for Virtual Assets and how to audit the blockchain?
- #5: Metaverse: Unlocking opportunities for Businesses.
Subject matter experts will participate in the panels. If you want to hear from the experts and ask questions, join us for this exciting and insightful event on the 17th of May 2023!
9. The enactment of the Virtual Assets and Initial Token Offerings Services Act 2021 (VAITOS Act 2021) allows VASPs globally to apply for licences in Mauritius. Does this represent another potential revenue channel for Management Companies based here?
The VAITOS Act 2021 provides a specific legal framework for Virtual Assets Service Providers to operate with greater certainty. Mauritius is aiming to become a FinTech Hub and the introduction of the VAITOS Act 2021 is a strong and bold step towards our aim. This definitely represents another potential revenue channel for our Management Companies. The different licence classes and the Initial Token Offerings under the VAITOS Act are helping our jurisdiction to diversify its offerings and making the Mauritius IFC more modern and attractive.
10. According to you, is the Government of Mauritius putting in enough efforts to attract International VASPs to our International Financial Centre?
The introduction of the VAITOS Act is a solid proof that the Government of Mauritius is working towards making Mauritius a Fintech Hub. During the past year, I have been personally dealing with the Economic Development Board (EDB) and I can only speak highly of the work being done by the EDB Team to make things happen in this industry. I can also confirm that the Financial Services Commission (FSC) is doing a great job too with the introduction of the FSC One platform. The FSC Team is adopting a flexible approach when it comes to applications under the VAITOS Act since these are new licences with different business models using blockchain technology, but, without any compromise on their regulatory and supervisory roles. Last, but not the least, the Minister of Financial Services and Good Governance, the Honourable Mahen Kumar Seeruttun, and his Team at the Ministry’s level, have been very supportive to the Virtual Assets industry. The only negative remark is on the Banking side when it comes to opening Bank accounts for crypto-related business. A solution should be found at the earliest!
11. Give me 5 reasons why one should participate in the Cryptoverse Summit?
That’s easy! Take 5:
- #1: The event will be very insightful and interesting.
- #2: There will be high calibre speakers from around the world who will intervene during the event.
- #3: Participants will be able to keep pace with, or catch up on, the latest developments in the web3 space.
- #4: Participants will have the opportunity to ask questions to the panelists on the various proposed topics like Virtual Assets, Compliance, Blockchain, Metaverse, Virtual Assets accounting and auditing of the Blockchain.
- #5: Networking opportunities.
12. How can prospective participants register for the event?
Please visit cryptoverse-summit.com and register online. We look forward to seeing you there!
