VNX Exchange and the University of Luxembourg’s SnT sign exciting new partnership at Le Freeport ceremony
On November 22 VNX Exchange celebrated signing a new partnership with the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) at Le Freeport, Luxembourg. Together with SnT, VNX will strive to solve the many issues born out of digital asset transactions – one of these problems is cyber security. Le Freeport’s state-of-the-art, maximum security storage facility was therefore the perfect setting to seal the partnership.
Alex Panican, head of partnerships and ecosystem at the Luxembourg House of Financial Technology (LHoFT), and VNX’s Finance Director Frances Lintag welcomed the 125 or so guests and outlined the importance of the partnership in positioning Luxembourg as one of Europe’s leading fintech hubs. VNX Founder and CEO Alexander Tkachenko and Professor Björn Ottersten, director of SnT, then signed on the dotted line to usher in an exciting new era for VNX Exchange.
Our new senior vice president and head of Asia Zing Yang then moderated a “fireside” chat with Andy Shannon, partner and head of global at Startupbootcamp, VNX Exchange Chairman Vladimir Khanumyan, and Radu State, head of the SEDAN research group at SnT.
“I think we’ve just witnessed one small step for man, and one giant leap for Luxembourg,” Zing said about the partnership.
The panel spoke about the attraction of investing in startups, the issue of the lack of liquidity in venture capital, and how VNX Exchange will fuel the revolution of the VC market. Radu State outlined the need for “a good ecosystem for blockchain, meaning a supportive environment and talented people.” He explained how Luxembourg is creating the ideal environment for developing new breakthrough technologies.
“There are several levels of problems that we need to solve. The first is security at the software layer – you need to ensure that there aren’t any vulnerabilities in the smart contracts that control the execution of individual transactions,” State said. “The second is ensuring the security of the blockchain platform itself, based on both the consensus algorithm and access rights. And the third is ensuring the security of the database, where you need to provide end-users with proof that the platform is working as it should while keeping the data on the platform.”