Crypto executives discuss the emergence of Web3 tech hubs around the world
Where are the top destinations for a career in crypto? For some, it’s traditional innovation hubs such as Miami or Silicon Valley. For others, it’s Singapore or Seoul. In addition, some would even argue that simply having a stable internet connection, irrespective of location, is sufficient for one to carve their own path in the realm of Web3.
To answer this question, Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr, asked a panel of experts at the annual Web Summit conference in Lisbon. Speakers at the event included Zach Coelius, managing partner at Coelius Capital; Laura González-Estéfani, founder and CEO of TheVentureCity; and Oscar Ramos, general partner of Orbit Startups.
According to González-Estéfani, who was born in Spain but spent most of her time in the San Francisco Bay Area and Miami, the next tech hub will be a place where people can “get the support they need from the different partners, investors and ecosystem builders.” And for González-Estéfani, that place is more likely to be in the United States than in Europe.
“The Bay Area is very approachable. Anyone is willing to help you. People see you, and they fall in love with you with your vision. If you’re looking for funding, there are a lot of entrepreneurs willing to help you. If you go to Miami, it’s a huge mix of people from all over the world, entrepreneurs of all ages. But if you look at Europe, it’s a lot more conservative.”
González-Estéfani’s take, however, was not echoed by Coelius, who was originally born in Minnesota and moved to the Bay Area in 2005. He saw the matter very differently: “When I first arrived, I saw billions upon billions of dollars flowing into the tech industry,” said Coelius. “But that energy, which was all centered in the Bay Area, has now scattered all over the world. So, whether it’s Miami or Lisbon or Kosovo, there’s just amazing innovation happening all over the world.”
Coelius further added that groupthink in the Bay Area is a major factor in why he believes the next tech hubs will instead be in locations scattered around the world:
“A lot of people think the same way. They go to the same parties, they play the same games, they think the same things. And it makes things really boring. And so, I’m personally very excited about all the new ideas that are showing up for people worldwide.”
As for Ramos, who also came from Madrid but has lived in Asia for the last 15 years, he believes the future of tech development will be concentrated in the East. “In China, I’ve seen the revolution of a technical system,” he said. “When I first arrived, you couldn’t pay for anything online. You need to have somebody to come to you, and you pay back to that person. And now, there is a market we’re currently seeing as the most advanced fintech ecosystem in the world.”
At this point, Lucrezia-Cornèr also joined in on the matter. While Cointelegraph is based in over 30 countries, Lucrezia-Cornèr manages her everyday corporate affairs in a very small Italian village with less than 7,000 inhabitants. “If we were to bring all the people in one place, we actually would lose all our value,” she said, “because our value is not biased to the place where we are based, but whether or not we are able to look for the likes of others.”
Coelius seemed to agree, adding that his advice for entrepreneurs and workers alike is to “go where your network is, where your support system is, where your infrastructure has been built. And then, you can recruit talent from all over the world.”