January

Davos 2020 Edition

Has Sustainable
Investing Gone
Mainstream?
Experts weigh in at CNNMoney
Switzerland.

Keys to Empowering
Women in Leadership
Women engage in leadership
roles when businesses take
the right steps.

Crossing the ‘Valley of

Death’ into Profitability
As investors demand returns, tech
companies re-think their strategies.

Fixing the Climate

Conundrum
Scientists give solutions for
real change in a real world.
On the cover:
Dutch artist M.C. Escher composed “Liberation” for the 10th Anniversary of
V-Day. The invisible and intangible is transformed into something visible,
tangible, concrete, and meaningful. Technology enables us to transform
theory into implementation and ideas into action.

Digital Future Magazine is a publication of the European Chamber of Digital

Commerce, an activity of the Swiss Chamber of Commerce in The Netherlands
which has a rich history engaging Heads of State and European CEO’s since 1933.
We advance transformation in areas such as blockchain, AI, and cybersecurity.
Our pillars include digital technology expertise, global client introductions,
venture capital and IPO intermediary, a Court of Arbitration with experts in
international and digital law, corporate governance code formation, industry
reports, and events televised on CNNMoney Switzerland.
To learn more: www.EuropeanChamberofDigitalCommerce.com
President and Chief Editor | Ria Persad
Chief Executive Officer | R.A.U. Juchter van Bergen Quast
Vice President | Oliver F. von Borstel
E-mail | ecdc@ssl-mail.com
ISSN 2666-7037 (Print) | ISSN 2666-7045 (Digital)

Contents
3 Welcome from the Editor

Purpose-Driven Investment in the Digital Age

4 at CNNMoney Switzerland

Unlocking Your Corporate Performance with

8 a Family-Friendly Business Code

Africa’s Tech Entrepreneurs: Digital Tech to

10 Achieve Sustainable Development Goals

Year in Review: BLOCKCHAIN

12 The Good, the Bad and the Ugly

Crossing the ‘Valley of Death’ into Profitability

14
The Future of Earning Money

The Climate Solutions Ecosystem

16
Dr. Jelle Zijlstra Award for Global Champions

18 The Environment is the Key to the Economy

Digital Strategies for Emerging Economies

20
The Future of Investment Settlement Dispute

22 Your Company’s Valuation in the Digital Age

Tech Outside Tech: Screening for True Value

23 Creation Through Applied Innovation
 Welcome
From the
Editor-in-Chief

Welcome to Digital Future Magazine, a

publication of the European Chamber of Digital
Commerce. Our parent organization is the
Swiss Chamber of Commerce in The
Netherlands, with a rich heritage serving the
business community since 1933.

This issue is dedicated to the 50 th Anniversary

of The World Economic Forum. Our highlight
is promoting an economy that is values-driven
rather than greed-driven. Most of our global
failures are the result of short-term profit-
driven thinking; but when we prioritize
creating value in the long-term, we learn that
we can in fact “have it all.”

The global economy isn’t just about money:

it’s about our quality of life, where one life
impacts another in an ecosystem.
Environmental, social, and governance issues
are top of this year’s Summit in Davos. The
European Chamber of Digital Commerce
supports this mission in helping businesses,
nations, and economies to be “built to last.”

Co-creating a better future with you,

Ria Persad
President
 “Disruption
isn’t just about
technology, but
innovative ways
of doing
business.”
Be a part of
Digital Future Board Room
at CNNMoney Switzerland
Connect to us
ecdc@ssl-mail.com
www.EuropeanChamberofDigitalCommerce.com
Global experts give guidance on critical issues
that shape our digital future. In 2020, our
roundtables in Davos and in Zürich at
CNNMoney Switzerland focus upon
digitalization and leadership, blockchain
transforming the energy sector, and engaging
women in top roles.
In the following pages, read the insights from
thought leaders from November’s episode of
Digital Future Board Room on the topic of
Purpose-Driven Investment in the Digital Age.
This televised series was created by the
European Chamber of Digital Commerce
(ECDC). It is globally distributed digitally and
moderated by Ria Persad, award-winning
scientist and President of ECDC.
Bob Juchter van Bergen Quast, CEO of
the European Chamber of Digital
Commerce and the Swiss Chamber of
Commerce in The Netherlands, shares on
trends shaping the corporate community:
1) There is a shift in that companies are more
aware and responding to customers’ needs to
“do good” and have a sense of purpose when
they are investing—whether the customer is a
college student putting 50 Euros into an account,
or a sophisticated high-net worth stakeholder.
2) There is an emergence of “disruption” in not just
technology, but in terms of new and creative
business models and collaborations, resulting in
exponential synergies and value creation.
3) Stakeholders are having a bigger influence than
ever before, influencing other stakeholders as
well (the public, government, or global trends).
This is transferring into company dynamics and
ways of doing business.
4) Women in key positions make companies more
profitable, adopt sustainable trends more rapidly,
and build businesses that are more fiscally sound.
5) Companies cannot afford to neglect the long-
term sustainability of their decisions. Focusing
only on the short-term might save “pennies”, but
sacrifice the “pounds.” A negative impact upon
society will ultimately circle back and impact the
business in the long-term.
 “We believe
that women are
the drivers of
change.”

Sustainable finance expert Edith

Aldewereld speaks on moving money to
meaning.
Private wealth is not moving in the right direction
fast enough to undertake the world’s imbalances.
There is an annual $2.5 trillion financing gap to
reach the UN Sustainable Development Goals. To
solve this global problem, we combine two
powerful forces: capital and feminine energy.
Women in Sustainable Finance (WISF) is an
international organisation that leverages women’s
high interest in sustainable finance. We empower
women to act and to transform the financial system
into one that contributes to a sustainable society.
We strongly believe in the power of co-creation
and therefore connect internationally with the
right partners to leverage each others’ strengths.
We enable our international members to act by
offering
Informative networking events
Education
Consultancy and advisory
Mentoring and coaching
Job offerings in the sustainable industry
An investment platform on liquid and illiquid
sustainable investment solutions.

Why women? Together we can create

On the one hand, women need support—as they an inclusive, sustainable
are highly underpresented in the financial industry
economy that benefits our
and in strategic management positions. On the
other hand, women have a higher interest in
society, planet and
sustainable finance (84%) compared to men (67%). economy at large.
Combining female energy, sustainable finance and
private capital, we create a positive impact, We Engage, Inspire,
balancing environmental, social and governance
Connect and Act.
practices. In so doing, people today can meet their
needs without compromising the ability of future www.wisfch.com
generations to meet their own.

5
 “Capitalism must
reinvent itself
into a force for
good.”
Impact investor and thought leader Florian
Kemmerich speaks on capitalism as a force
for good using new technologies to benefit
populations in emerging markets.
The Fourth Industrial Revolution is well and truly
underway, driven by the rise of new technologies.
Technology is a major disruptor in the developing
world. It has generated a wealth of opportunities
for underserved markets because it provides large
swaths of the population with access to more
affordable goods and services.
The adoption of cell phones was the first milestone
in the development of these markets. The use of
mobile money is now hugely popular, particularly in
Africa. Mobile money brings rural populations into
the formal economy and provides them with access
to other services, including distributed energy.
Access to the internet and finance in a data-driven
environment provides the necessary ingredients to
start the development of the ‘Internet of Things’
(IOT) which has the potential to fuel production
and productivity. The data collected makes it
possible to build a digital profile of customers
where there had previously been little or no
information. In response, investors need to revisit
their approach to these markets.
The allocation of capital, especially amongst
millennials, has become increasingly purpose-driven
rather than purely profit-driven.
6
At Bamboo, we have fully embraced new
technologies. We have integrated the use of data
and blockchain in our investment processes. New
technologies have enabled us to invest digitally,
safely, and transparently in a critical component
of emerging markets: small and medium-sized
enterprises (SMEs). SMEs are the lifeblood of the
economy; they represent the wealth of a nation
and make a significant impact on improving local
living conditions. For investors looking at the
developing world, investing in SMEs at an early
stage with smaller tickets provides local
populations with a source of employment and
can help mitigate deadly mass migration.
The development of new technologies has
created new investment opportunities not only
for institutions, but also retail investors who are
willing to put their capital to work for good.
Impact investing was previously
seen as a niche market, but it has
since become mainstream and
profitable.
It is now time for the financial industry to
rethink the way it invests and how it can
leverage new technologies to fuel huge growth
opportunities in underserved markets.
www.bamboocp.com
 “Innovation can
be profitable and
also have a sense
of purpose.”
Marleen Evertsz, CEO of Nxchange, speaks
about the next generation of capital markets.
The financial sector is transforming to meet the needs
of shareholders through responsible investing. The
upcoming generation wants greater engagement,
choice, and transparency in their investments.
Investors simply don’t go for only a financial return
anymore. There is a strong and growing interest in
sustainable capital solutions and ethical investing.
Driven by regulation, institutional investors even
bound themselves by making their sustainability policy
explicit and public.
When you look at the traditional practices of the
financial markets and their deeply ingrained habits,
there’s a huge gap in the market to fill. Nxchange is
building Europe’s largest Blockchain-based Securities
Exchange that facilitates issuers in listing digitized
assets and tokenized securities and raise capital,
making it possible for investors to invest and trade in
these assets in an efficient and transparent way.
Nxchange combines the power of the upcoming
communities and social networks with the benefits of
a fully regulated securities exchange that is built on
the newest technology. Nxchange focuses on
shortening the lines between investors and issuers by
restoring the relationship between listed companies
and their shareholders.
Innovation cannot only be profitable but can
also have a sense of purpose.
7
A fully sustainable world will not emerge without
effective sustainable finance. By bridging the gap
between investors on the capital markets and
sustainable projects, Nxchange can make it possible
to finance smaller projects on the capital markets
and give investors access to these projects. Our
listed companies and projects are challenged to give
frequent updates on financial and impact indicators
and strategic initiatives, transforming their IPO
prospectuses into living documents that provide
ongoing insight to the investor community. By
creating equality of information between the
company and its shareholders, an aligned, long-term
focus is supported.
Nxchange is the first fully regulated European
Securities Exchange for tokenized securities and
digitized assets. With the latest technology and
the required permits at its disposal, Nxchange
has all the tools to change the way the
traditional capital markets run — for the better.
Using the power of the Internet, decentralized
protocols, social networks and ongoing
technological developments, Nxchange has the
ability to decentralise the means of investment
and give investors the power to self-organise
and shape the world the way they want.
The future is now.
www.nxchange.com
Unlocking Corporate Performance with
a Family-Friendly Business Code
A collaboration between the European Chamber of Digital Commerce and
Women in Sustainable Finance

Ten years ago, StatWeather—a tech company specializing in artificial intelligence for
extreme weather prediction—was searching for talented mathematicians, scientists, and
business developers. They tapped into a unique talent pool: women who held graduate degrees
with a strong professional track record in the sciences, but were unable to engage in their past
corporate or managerial positions due to needing to take care of their families. Through
offering family-friendly work conditions, the tech company filled their hiring needs with 80%
women and rose to becoming the world’s #1 Data Provider and the #1 Climate Technology
company globally.

What is a Family-Friendly Business Code?

Family-friendly practices, policies, and programs provided by companies increase the quality of
life of their employees and families. They empower both women and men to be successful in
their professional as well as personal lives.

Family-Friendly Business Codes extend beyond employees into the entire supply chain of
corporate activity. It stands for sustainable practices that protect our environment so that
families for generations to come can be benefitted. It means not using suppliers who support
child labor. It means family-friendly products and services that build up society and ultimately
create a better world and a truly strong and stable global economy.
Family-friendly practices raise morale, increase
the health of employees, boost efficiency, produce Join the discussion…
higher returns, foster greater loyalty, and attract During the World Economic
the most superior talent. It creates a competitive Forum 2020 in Davos, at the
advantage for employers in the Digital Age. Digital Future Board Room
covered by CNNMoney
What are some examples of family-friendly practices Switzerland, experts from
which corporations can include in their governance and around the world share their
offerings? insights on Unlocking Corporate
Performance with a Family-Friendly
Reasonable Work Hours for Everyone Business Code.
Work is balanced to where both parents can work, and both Date: Thursday, January 23
parents can spend quality time with their families. Location: Hotel Seehof Davos
Time: 11:00AM-1:00PM
Flexibility Hosted by the European Chamber of
In a recent study by Werk, 96% of employees stated they need Digital Commerce and Women in
flexibility, but only a minority had it. Flex Jobs found that 31% quit Sustainable Finance.
their previous jobs because of a lack of flexibility. Employees report
that flexibility is worth more than having a high income. Be a part of the change…
Would you like to help us in this
Flexible Work Hours global movement to improve
Part-time hours or work-sharing, splitting full-time hours corporate culture in becoming
between 2 people. more sustainable and family-
Flexible Schedule friendly? Would you like to see a
“Flex-time” or adaptability in terms of which days or shifts real change, that women can rise
are worked. to their potential in the workplace
Flexible Work Location and be empowered? Would you
Remote work, reduced travel. like to see family-friendly policies
implemented across the entire
Parental and Family Leave Support corporate supply chain?
This can include ample leave for the birth of a child, adoption, or
caring for a family member with a serious health condition. Contact us
ecdc@ssl-mail.com
Health Coverage and Workplace Wellness
Wellness information, health risk assessments, stress management
programs, life coaching, ergonomic workspaces, fitness center
memberships…there are many ways to show employees that they
are valued and appreciated and that their well-being is cared about.

Lactation-Friendly Workplace
Cigna found that for 343 employees who participated in a lactation
program, there were $240,000 in health care expense savings, 62%
fewer prescriptions, and $460,000 in savings due to reduced
absenteeism.

Child Care Support

Child care support stabilizes the workforce by helping employees
eliminate stress related to being without care for their children.

9
Africa’s Tech Entrepreneurs:
Using Digital Technology to Achieve
Sustainable Development Goals
By Dr. Anino Emuwa
Africa’s thriving innovation scene is attracting
global interest. Alibaba founder Jack Ma and
Jack Dorsey, co-founder of Twitter,
successively toured several countries in Africa
last November, whilst Facebook co-founder
Mark Zuckerberg similarly visited Africa in
2016. What’s driving this Afrotech optimism?
1. Demographics and Increased
Political Stability
Africa’s youthful population is expected to reach
three hundred million by 2030 in marked contrast to
the ageing populations of more advanced nations.
With the continent’s growing middle class and
democratisation, market conditions are becoming
increasingly attractive.
2. Digital Technology
Social media, mobile telephony and broadband
connections are fuelling innovation and creativity in
Africa. Where infrastructural problems have
discouraged some investors, the tech space has
approached it as an opportunity. Unhindered by
legacy systems which sometimes deters investment,
tech entrepreneurs in Africa are innovating to bridge
technology gaps. For example, from the 90’s, several
African countries leap frogged from fixed phone lines
to 2G, and then to 3G, ahead of many western
countries.
10
Tech entrepreneurs are solving challenges:
urban transportation - Gokada, Kobo360
empowering intra city haulage, Zipline using
drone technology to deliver life-saving supplies,
and Farm Crowdy, a digital agricultural
platform. Digital technology also plays a role in
financial inclusion in Africa through fintech,
benefitting low income women and
microentrepreneurs.
More broadly, digital technology is driving
inclusivity in entrepreneurship. Armed with
little more than a mobile phone, entrepreneurs
have platforms to launch and run their
businesses. In 2018, there were over 300
million smartphone connections in sub-Saharan
African. Projections for 2025 rank Nigeria as
the 9th smartphone superpower in the world
with over 140 million smart phone connections.
3. Tech Hubs and Investment in
Startups
The innovation ecosystem is also expanding
rapidly with corresponding growth in
investment. Over 600 tech hubs were
identified in 2019, a 40% growth over the year
before. One of the best known, Nigeria’s
CcHub has extended its reach to East Africa by
acquiring Kenya’s celebrated iHub.
 “Africa’s tech and innovation
scene is thriving.”
-Dr. Anino Emuwa
Afrilabs, a network of 174 innovation centres across
45 countries, has just received $2 million in funding
from French government’s Agence Française de
Développement (AFD) for capacity building
programmes for its member hubs. Funding for
African tech companies attracted over $1 billion in
venture capital funding in 2019 – an unprecedented
amount – with Interswitch, a fintech company,
achieving unicorn valuation after Visa acquired a
minority stake last November.
4. AfCFTA and E-Commerce
The African Continental Free Trade Agreement
(AfCFTA) ratified by 54 out of 55 countries will
make Africa the largest free trade zone in the world
by number of countries. AfCFTA has the potential
to be an engine of growth for the continent whose
combined economy currently stands at $2.19 trillion,
helping small businesses plug into transnational trade
and opening up e-commerce opportunities.
Join us in Davos during the World Economic Forum for an
International Women Business Leaders
Networking Reception hosted by
When: Thursday, January 23, 2020, 12:30 PM – 2:00 PM
Where: Hotel Seehof Davos
This reception follows the Digital Future Board Room event televised
by CNNMoney Switzerland.
For an invitation, contact ecdc@ssl-mail.com
Undoubtedly, difficulties persist as governments
grapple with urban challenges: from affordable
housing and education, access to healthcare and
sanitation, to mass transportation and power
generation. But African innovators and
entrepreneurs are not sitting back; they are
solving some of these issues and delivering value
to investors, creating wealth and jobs in the
process and helping to achieve Sustainable
Development Goals. More funding and a longer-
term view from investors will help.
About the Author: Dr Anino Emuwa is the founder of strategy
and financial advisory firm Avandis Consulting based in
France. A former corporate banker with Citibank, Anino is an
expert on SME finance and an international public speaker on
innovation, Fintech and women in business leadership. She
has spoken at Facebook, ING, French National Assembly,
University of Cambridge, London School of Economics and
Web Summit. Dr. Emuwa is a business mentor with Chartered
Management Institute, Cartier Women’s Initiative and
Nottingham Business School where she is an Alumni Fellow.
www.avandisconsulting.com
Year in Review:
BLOCKCHAIN
The Good, the Bad
and the Ugly
The European Chamber of Digital
Commerce is an activity of the Swiss
Chamber of Commerce in The
Netherlands, whose history advising
heads of state and the world’s foremost
corporations dates back to 1933.
This report represents the cumulative
observations of the Chamber over the past year
in engaging with over 350 blockchain companies,
over 500 other tech and financial institutions,
and governments in 5 continents.
Blockchain and digitalization have been among the
hottest topics which governments and businesses are
navigating, with both ambitious and cautious intentions.
Adoption has been mixed, with excellent use cases
among early adopters, but with key barriers to
mainstream adoption.
The Bad and the Ugly
1) Blockchain is highly energy-intensive and
currently cannot handle the volume and speed of
current transactional systems.
2) Blockchain experts and business leaders tend to be
in different worlds, with most blockchain firms in
a vacuum without clear idea of their market,
monetization, or what other blockchain firms are
doing. Many business leaders struggle to understand
the tech, its applications, risks and rewards.
3) Many investors are not well-versed enough to
discern which blockchain or cryptocurrency projects
are legitimate or worth investing in.
12
4) Implementation costs tend to be high, with steep
learning curves and initial business disruptions.
Blockchain solutions can involve expensive, highly
skilled IT teams who are specially trained in
distributed ledger technology (as opposed to a
typical in-house IT team).
5) Further breakthroughs in mathematics and
cryptography are needed in encryption and
randomization algorithms for advanced system
security and efficiency.
6) Governments, regulators, and corporations are
concerned about fraud, hackability, and
misuse of technology for money laundering
and other illegal activity. Investors are concerned
about crypto volatility, theft, and spendability.
7) The actual returns on investment are unclear
for governments, businesses, and market sectors,
accounting for the risks of loss.
8) Blockchain presents a legal minefield for
regulatory frameworks, with blockchain firms
tending to operate in offshore jurisdictions.
9) Cryptocurrencies (a “use case” for blockchain)
present a solution for those without access to
banking and stable currencies, yet are held in
question by governments worried that they might
undermine sovereign currencies.
10) Large entities employing blockchain tend to use a
“closed network”, which can defeat the purpose
of blockchain’s open, decentralized advantages.
The market is not ready for a full blockchain
implementation, but is taking it in stages.

The Good
1) Every large government we work with is planning for
major spend in blockchain transformation. There is a
bullish sentiment globally.
2) Blockchain opens up many fresh new business
opportunities and high paying jobs.
3) The applications of blockchain are limitless:
banking, crypto, real estate, medical records, supply
chain, stock exchange, energy, food safety, voting,
DNA data, wine and art transactions, to name a few.
4) Blockchain can provide solutions to the world’s most
underserved populations, such as the nearly 2
billion adults who have no bank accounts.
5) Cryptocurrencies can hedge against the risk of fiat
currencies.
6) Transactions are independent of banks or 3rd parties
and enable greater privacy.
7) The government and corporate mainstream now views
blockchain as a tool with transactional advantages
(see chart above), rather than as a purely
speculative tool.
8) Most companies say that blockchain will become
critical to their businesses and that they will lose
competitive advantage if they do not adapt.
9) Blockchain ecosystems attract more investment,
presenting a strategy for countries seeking to grow
foreign investment.
10) Harvard reports that blockchain could slash the cost of
transactions, thereby reshaping the economy.
13
Advantages
 Millions of computers
on a blockchain network
verify the transaction.
 Verification occurs
without middlemen.
 Cryptography secures
the ledgers.
 The data can’t be
changed.
 Origins of transactions
can be reliably
tracked.
Industry Use Case:
Blockchain in Energy
In the Russian energy industry, total debt for
electricity as of Sept. 1, 2019, had reached over
$15 billion. The causes include non-payment of
customers, some payments not reaching
manufacturers, inaccessible data, and inaccurate
metering calculations by intermediaries. In a
country as large as Russia, management
problems of such a wide supply chain are
unavoidable. Blockchain can help to overcome
these hurdles through a project by Waves, in
response to Russian power company Rosseti's
request for solutions. Blockchain solutions
remove opportunities to manipulate data,
including measuring electricity use and making
payments, making the process completely
transparent, and permanently resolving
disputes. Smart contracts ensure that
participants fulfill their financial obligations.
Blockchain applications in the energy
sector present one of the most
transformative developments and
investment opportunities of the future.
The #1 issue confronting tech companies today
is going from innovation to making money.
Translating a brilliant breakthrough into
Crossing
the ‘Valley
profitability can be a big hurdle to companies
staying afloat.

of Death’
There is a lack of synchronicity between technology
experts and the business world. Many start-ups fail to
grasp that developing a product is only 10-15% of the

into
work that’s required to go to market. Over 80% of the
work will be non-technical (business development) in
order to penetrate a market and gain a customer base.

Profitability
However, many start-ups get it backwards: over 80% of
employees might be highly technical engineers with very
little expertise on the business side. According to
research from Stanford University, venture capital
investments in US cleantech firms has slumped in the “The reality is that
past six years because start-ups lacked experience in
there are many
operating a business.
excellent products
Before developing a new technology, entrepreneurs out there, but
should find out what the market actually needs or very few sound
wants, what price it will pay, and how long it might take businesses.”
for adoption. What is the customer’s return on
investment using this innovation? Often, potential By Ria Persad
clients need to be shown how a product will benefit
them, with the seller being more knowledgeable in the
customer’s business than the customers themselves! A
disruptive tech company tends to take on a consultancy
role to educate and help the customer solve an issue.

Nowadays, attracting multiple rounds of investors has

become a “business model”, with some companies more
focused upon gaining investors than gaining customers.
Bridging the “valley of death” into profitability relies
upon a customer-centric focus right from the very
beginning. Communication between the technical and
business sides is key. Until we expend the time and
effort to reach our customers and really listen to their
needs, profitability will continue to be the real unicorn.

14
 The Future
The Old Way
In selling your product, the main feature is the
lowest price. Typical manipulative hard selling
of Earning
Money
focuses upon pressure tactics and price without
regard to truly solving the client’s problems. There
is low customer loyalty, because they “shop further”
to see if they can get it cheaper somewhere else,
and the results are usually dissatisfied clients and
dwindling profits in the long-term. By Oliver F. von Borstel

The New Way

You listen to your customers and identify their “Really listen to your
needs, providing a solution that increases their
quality of life and that of their families. customers to provide a
Non-manipulative, ethical selling uses factual solution with the goal
arguments and promotes a service-oriented solution.
Customers are loyal and refer your business, of increasing their
because they can only receive this level of quality quality of life.”
service in the marketplace from you. Be creative in
what you can offer your customers—things that no
one else can or will. The focus is not on giving the
lowest price, but offering the greatest value. This
makes for not only happy customers, but a real fan
base who recommends you to others. In the long
haul, you’ll have a business you can sustain with
higher profits.

About the Author: Oliver F. von Borstel is

President of the Swiss Chamber of
Commerce in The Netherlands and VP of
the European Chamber of Digital
Commerce. He is CEO of Masters of
Business Development and has coached
2,500+ professionals since 2008.
www.MastersofBusinessDevelopment.eu
A Process for Real Change
How can nations adapt to a changing
climate, mitigate climate risk, and
recover from climate disasters?
The
Climate
This 8-step checklist was developed by the
European Chamber of Digital Commerce, working
with the most vulnerable regions from the
Caribbean to Southeast Asia. An ecosystem of

Solutions
stakeholders in government, academia, NGO’s, and
businesses working together are needed to bring
about effective change. Climate solutions are
attainable. Is your local government or nation
taking the right steps? Let us know how we can
help or tell us a success story and we will feature it
in the next issue of Digital Future Magazine!
Email us: ecdc@ssl-mail.com
Ecosystem
Is there access to good data? By Ria Persad
Satellites, sensors, buoys, and other platforms
provide valuable facts about our climate.

Is there access to forecasts?

Scientists then construct models to calculate
predictions from the data.

Are the impacts known?

From the predictions, experts analyse the risks
upon our lives, economy, and countries.

Are there solid plans?

Planners and solution-builders draft ways to
handle these risks locally and globally.

Is there access to funding?

Budgets and financiers play a critical role in
determining what plans get implemented.

Are plans being implemented?

On-the-ground implementation involving the
community delivers solutions to the people.

Is there sound policy in place?

Policymakers formulate standards to help maintain
action and accountability.

Are communication outlets involved?

The media and institutions raise awareness and
train future leaders on what’s been
accomplished and what’s yet to be done.
 Dr. Jelle Zijlstra Award for
Global Champions
Dr. Jelle Zijlstra was the former Prime Minister of
Dr. Upmanu Lall the Netherlands, President of the Central Bank of the
2020 Laureate, Netherlands, and President of the Bank for
Dr. Jelle Zijlstra Award International Settlements in Switzerland, with long-
standing engagement with the Swiss Chamber of
Commerce in The Netherlands. In honour of this
renowned economist, we recognize international
leaders whose work champions economic national
growth, generational-shifting innovation, global
collaboration, or charitable commitments which
dramatically improve the quality of life for society.

This year’s laureate, Dr. Upmanu Lall, originally from

India, is the Director and co-founder of the Columbia
Water Center at The Earth Institute, Columbia
University in New York, and is the Alan and Carol
Silberstein Professor of Earth and Environmental
Engineering.
"The goal of
Dr. Lall focuses on the societal problems associated
engineering is to with water, from severe water shortages expected this
century in the developing world, to the relation-ship
develop solutions between global water systems and climate change. He
investigates the complex links between climate, natural
to societal hazards, agriculture, and energy.

problems." He leads the Global Water Sustainability Initiative to

address global water scarcity and risk; the Global Flood
Initiative to predict and manage floods at a global scale;
-Dr. Upmanu Lall and America's Water to develop sustainable water
management and infrastructure design paradigms for
the 21st century.

As the current editor-in-chief of the journal "Water

Security”, he engages in high level public and scientific
discussion through the World Economic Forum, the
media, governments, foundations, development banks,
and corporations interested in sustainability.
The Environment is the
Key to the Economy
If the environment is stripped and people’s basic needs
are unmet, not even a digital economy can thrive.

By Ria Persad
About the Author: Ria Persad majored in math and physics at Harvard, Princeton, and Cambridge Universities. She was a Space Scientist at
NASA and advises NOAA on advancing environmental intelligence. She is the Founding CEO of StatWeather, modeling weather based upon
Artificial Intelligence, recipient of the #1 Climate Technology Award globally. Persad received Citations from the U.S. Secretary of Energy and
the U.S. Senate on Scientific Achievement on her original contributions to physics and mathematics. She has been recognized by Platts Global
Energy Awards, the "Oscars" of the Energy industry, as one of the top 7 leaders globally and was the International Power-Gen and Renewable
Energy Woman of the Year. As the President of the European Chamber of Digital Commerce, she advises governments and corporations on
sustainable development and technology solutions.

18
Several years ago, I visited my relatives in the countryside of
Trinidad and Tobago. My grandparents settled there in the
1930’s under British colonization. My grandmother, now 97,
explained to me what life was like at a time when she had no
money, no job, no food, no education, and nobody to help. It
was an eye-opener.
As a teenager, she looked out on a desolate field and thought,
“I don’t ever want my (future) children to go hungry like how
I’m hungry.” She scrounged together some garbage scraps and
planted anything from mango pits to sesame seeds. Today,
grandmother has fed 3 generations of 20 family members over
the past 80 years from this field. My uncles built several
beautiful houses using the resources of that land. We collect
rainwater to drink, my aunts make clothes and cook, and
grandmother still tills the field, even at 97.
For thousands of years, people like my grandmother managed
to survive without the help of government, “money” (fiat
currency), corporate “jobs”, electronics, or fossil fuel. Yet they
were fed, clothed, sheltered, had fewer diseases and lived
longer (many of my ancestors past the age of 95). Their
children had inheritances, and there was “day care” and
“retirement insurance” in a place where everyone takes care of
each other. Nobody felt that the government was responsible
for their lives; they took responsibility for their own survival.
What actually makes this possible? The answer is the
environment. Clean water. Arable land. A climate where food
can grow. Natural resources, like trees…and grandmother’s
foresight and common sense to keep planting new trees for her
children’s children. When people have access to a healthy
environment, they have the resources to create value in
society, being self-sufficient, creating their own “jobs” and a
vibrant local economy.
One of my favorite places to visit is Alaska. I am always in awe
of the sheer majesty and purity of the environment. Most of the
people I speak with who move to Alaska feel that they can be
self-sufficient with just their abilities, hard work, and the
resources in nature. It just goes to show that strong, resilient,
self-sufficient people can be found from the countryside of a
Caribbean island to the Denali mountain range, equipped with
nature and their own two hands.
Modernization has definitely blessed us all, helping us cure
disease, making our work more efficient, and enriching us
through technology. But if industrialization destroys the
environment, people become dependent upon foreign
sources for their basic needs. These foreign sources could
potentially control their lifeblood as they become more
vulnerable to conflict and foreign politics, losing their
“true” freedom and crippled in their abilities to self-
govern and be self-sufficient.
19
In times of crisis when inflation gets out of hand
and currencies are devalued, when a bubble bursts
and the stock market crashes, and when there are
trade wars that prevent exporting products, all we’re
left with is our environment and our ability to
survive. Without our basic needs, not even a digital
economy can thrive.
Over the years, I’ve worked with governments around the
globe on sustainable development, and the problems seem
to share a common theme. Where people are struggling
to survive, their ability to tap into environmental
resources has somehow been stripped. This could be due
to famine or natural disasters like earthquakes and
hurricanes, exploitation and deforestation of land, political
restriction on crops, or dependence upon foreign
resources. When people cannot access a functioning
environment, it leads to poverty, unrest, and even a
country’s economic ruin.
On the flip side, if people have access to a healthy
environment, with clean water, healthy food, renewable
building materials, fiber for clothing, and other natural
resources, then they can work and sustain themselves—
just as my grandmother did 80 years ago. They won’t
easily fall prey to disease, starvation, and scarcity. Instead,
they create a thriving economy which organically grows
from within.
Nothing can rival a healthy environment in
terms of its capacity to empower the people.
It is mission critical for governments to invest efforts in
restoring and cultivating a healthy environment for the
people. It helps to feed not just one generation, but all
generations to come. It also provides a solid foundation
from which the industrial and digital economies grow. The
environment is a priceless treasure which no short-term
government assistance can ever rival in terms of its
capacity to empower the people. The environment is the
key to the economy, opening the door to self-sufficiency,
advancement, and long-term prosperity for a people who
are ambitious and free.
Digital Strategies
for Emerging Economies
By R.A.U. Juchter van Bergen Quast

Core objectives for emerging economies are attracting investment,

gaining greater economic freedom and international cooperation,
and improving standards of living and social stability. How can a
digitalization strategy help emerging economies to transform?

Education is the primary need for emerging economies to grow, generating The infusion of
a new, tech-enabled talent pool poised to innovate. A universal, affordable development with
internet infrastructure provides the basis for open educational platforms digitalization brings
such as Coursera.org. Executive Education programs through top
a powerful capability
universities are rapidly accelerating into growing economies, giving them a
“window to the world outside.” to help lift a country
out of poverty and
Blockchain technology can be used for tracking financial services and
preventing corruption in record-keeping. The nature of its decentralized
provide new
checks-and-balances enables tamper-proof systems. In India and Africa, food resources for
supply chains, micro-finance lending, and pharmaceuticals are some uses of productivity,
blockchain to verify, track, and execute contracts. Emerging markets are
innovation, and
the ideal setting for unlocking electricity access through “smart contracts”
and increased transparency in energy transactions. Another application of wealth.
blockchain—cryptocurrencies—provides unbanked persons access to
financial storage and instruments amidst lack of access to reliable banking.

Digitalization thrives in an atmosphere of effective governance.

Governments can foster digitalization by setting policy, appropriately
regulating companies and activities, investing in digital development, and
digitizing services.
20

The Future of
Investment
Dispute
Settlement
By R.A.U. Juchter van Bergen Quast
About the author: RAU Juchter van Bergen Quast, LLM,
FSS, is the President of the Court of Arbitration of the
European Chamber of Digital Commerce and has the right
of audience before the AIFC. He is the CEO of the Swiss
Chamber of Commerce in The Netherlands and the
European Chamber of Digital Commerce.
The Problem
When entrepreneurs engaged in international
investments are accused of a breach of contract,
the result can be endless legal discussions and
expensive court cases in unfamiliar jurisdictions.
The Solution
The investment agreement should provide solid
provisions for dispute settlement. To avoid endless
legal battles, insert an arbitration clause (legislation
out of court). Such a clause can be found at
www.EuropeanChamberofDigitalCommerce.com
under “Arbitration.” Arbitration has many
advantages as a growing trend of the future.
6) Unlike in court, parties can select an arbitrator
with relevant experience. For example, a Court
of Arbitration has a list of arbitrators expert in
digital commerce.
7) Arbitration is faster than court litigation. A time
limit can be placed on the length of the process.
8) Arbitration is cheaper and more flexible, more
commercial and less formal than court.
9) Unlike court rulings, arbitration proceedings and
arbitral awards are confidential.
10) Unlike in court, avenues are very limited for
appeal of an arbitral award, limiting the duration
of the dispute and any associated liability.
11) Due to the provisions of the 1958 New York
Convention, arbitral awards are far easier to
enforce in other nations than court judgments.
Where to Go
Here are examples of Courts of Arbitration that
offer an effective way to solve investment disputes:
Astana International Financial Court (AIFC
Court) – www.aifc-court.kz
Dubai International Financial Courts (DIFC
Courts) – www.difccourts.ae
European Chamber of Digital Commerce Court
of Arbitration (ECDC Court) –
www.europeanchamberofdigitalcommerce.com
London Court of International Arbitration
(LCIA) – www.lcia.org
Arbitration Institute of the Stockholm Chamber
of Commerce (SCC) – www.sccinstitute.com
Valuation in
the Digital
Age
By the Editor

A tech company’s valuation in the Digital Age is more art than science, with zero-
revenue companies valued at billions, yet other companies going bust overnight from a
bubble bursting. Here are 14 ways to determine the valuation of your company.

Revenue or earnings-based formula Your tech company’s

Competitor's valuation
‘Acqui-hire’: the value of your team
Tangible assets
IP or a special discovery
Followers (or market reach)
Build-vs.-Buy: the cost to "build" your offering
Strategic: a portion of how much they gain if they buy
your company…or how much they lose if they don't
‘Founder's fatigue’: the founder’s sum that (s)he will
accept because (s)he is tired or moving on
Gut feeling: an investor's intuition (or speculation) on
whether you're a "unicorn" or not
Highest bidder: holding an auction
Prior valuation: set by previous investors
Market valuation: what the timing, trends, and fads
indicate; if people want “in” or “out” of your sector
A combination of the above (most common)
valuation is primarily
a negotiation. There
are no set rules in the
Digital Age.
In practice, valuation is not an
objective measurement: it's a
number agreed upon between two
parties—the buyer and the
seller—no matter how creative or
outrageous this number might be.
It’s your prerogative to skillfully
negotiate a valuation that balances the
investor’s need for returns with your
needs as a founder, whether that
involves greater liquidity, company
growth, or moving on to your next
great venture!

22
 Tech Outside Tech:
Screening for True
Value Creation
Through Applied
Innovation
By Katharina Boehringer

We are in the midst of the 4th

Industrial Revolution.
Innovation is happening now -
not in a distant, intangible
future. This has an
elementary influence on asset
classes and the traditional
classification of equities.

“The viability of innovation is reflected in its application. That’s why previous and traditional classification models
have become obsolete. Currently the most attractive tech investments can be found in unexpected sectors,
especially outside tech,” says Evelyne Pflugi, CEO and co-founder of The Singularity Group, a Zürich-based
investment advisory dedicated to developing tech investment strategies and vehicles that enable investors to
capitalize on exponential innovation.

“The future of companies depends largely on how they can adapt to rapid technological change and transform their
business models,” adds Pflugi. According to The Singularity Group’s position, every company can and must be
innovative in order to survive in future competition. There is one significant trend that has not changed since the
First Industrial Revolution: technologies that gain ground in the market and change the world grow exponentially.

Applied innovation across equities is not reflected in most

classical indices—and is therefore not directly investable. “With
the Nasdaq Singularity Index (NSI), we filter for companies from
50,000 stocks that already create true value through exponential
innovation in twelve defined singularity sectors — across all
countries, market capitalizations and industries,” explains Pflugi.
“With us, you invest in companies before they themselves
become tech companies. It’s all about the right momentum.”