An open letter to the French government, by Web3 entrepreneurs

Regulation & Policy
"Let's make France a major player in Web3". In an open letter to the government published exclusively in The Big Whale, Sébastien Borget (The Sandbox), Pascal Gauthier (Ledger), Pierre-Nicolas Hurstel (Arianee), Nicolas Julia (Sorare) and Frédéric Montagnon (Arianee) call for more to be done to support the Web3 ecosystem.

We, French Web3 entrepreneurs, enthusiastically welcome the statements made by Mr. Bruno Lemaire, Minister of Economy, Finance and Industrial and Digital Sovereignty and Mr. Jean-Noël Barrot, Minister Delegate in charge of Digital Transition and Telecommunications, calling for "making Europe the world's leading economic zone in terms of structuring and organizing the crypto-asset market and France the European hub for this ecosystem." We share this ambition and are convinced that France can, indeed, play a major role in this Internet, new generation.

Behind the "crypto assets market" lies a crucial issue: digital sovereignty. That of our personal data and the data of our companies i.e. the digital sovereignty of France and Europe.

By using crypto assets, we can achieve independence from platforms and participate in the creation of an architecture where each user owns and controls their own data, and where a company cannot build a monopoly by acquiring all of the users' data or restricting their use outside of the company.

There is only one thing missing to transform the trial and take a decisive lead: putting these new technologies in the hands of the French and becoming the first country in the world to recognize the right to ownership of digital content. In a sector where competition is global and where innovations develop faster than regulations, we need agile and creative regulators and a responsive administration and legislator.

An abundant ecosystem

It is by creating a favorable environment, by having the most educated market to the uses that we will make France an attractive country at the world level. If some industries participate in familiarizing their customers, the State has the possibility to create the conditions for a much faster and massive adoption in the service of individual freedom.

NFTs can be used as a proof of ownership of any type of physical or digital content, whether it is a document, a driver's license, a car registration document, a diploma, a transport title, a work of art, a video game character. Used as digital passports for our digital identities and products, they will contribute to facilitate their reparability and circularity. Public power and regulation can contribute to accelerate this adoption.

France is fortunate to have a highly developed ecosystem of projects and experts, some of whom are already world leaders in their category. The luxury goods, fashion, cosmetics, and video game industries, to name a few, are beginning to appropriate Web3 technologies to take a major step forward in their digital transformation. French Web3 players are already world leaders who have penetrated the American market, which represents a radical new development for France in the digital world.

If France wants to stay at the forefront of this revolution, it can choose to be bold and use its public power to implement changes. Companies in this sector have already proven themselves to be attractive to private investors and do not require subsidies. What they need is an ambitious initiative that will benefit all citizens by making these technologies accessible in their daily lives.

For the first time in the history of digital transformation, we have the chance to take back control. Let's not miss this opportunity.

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Published on
9/1/2023
Sébastien Borget
Co-founder & COO at The Sandbox
Pascal Gautier
Chairman & CEO at Ledger
Pierre-Nicolas Hurstel
Co-founder & CEO at Arianee
Nicolas Julia
Co-founder & CEO at Sorare
Frédéric Montagnon
Co-Founder and Chairman at Arianee, investor at The Big Whale
Written by

Do you want to join the Web3 revolution?

Find the best of the crypto, NFT and DeFi news every Wednesday and Thursday in the two newsletters written by our specialised journalists Grégory Raymond and Raphaël Bloch.

An open letter to the French government, by Web3 entrepreneurs
Published on
Published on
January 9, 2023

An open letter to the French government, by Web3 entrepreneurs

"Let's make France a major player in Web3". In an open letter to the government published exclusively in The Big Whale, Sébastien Borget (The Sandbox), Pascal Gauthier (Ledger), Pierre-Nicolas Hurstel (Arianee), Nicolas Julia (Sorare) and Frédéric Montagnon (Arianee) call for more to be done to support the Web3 ecosystem.

We, French Web3 entrepreneurs, enthusiastically welcome the statements made by Mr. Bruno Lemaire, Minister of Economy, Finance and Industrial and Digital Sovereignty and Mr. Jean-Noël Barrot, Minister Delegate in charge of Digital Transition and Telecommunications, calling for "making Europe the world's leading economic zone in terms of structuring and organizing the crypto-asset market and France the European hub for this ecosystem." We share this ambition and are convinced that France can, indeed, play a major role in this Internet, new generation.

Behind the "crypto assets market" lies a crucial issue: digital sovereignty. That of our personal data and the data of our companies i.e. the digital sovereignty of France and Europe.

By using crypto assets, we can achieve independence from platforms and participate in the creation of an architecture where each user owns and controls their own data, and where a company cannot build a monopoly by acquiring all of the users' data or restricting their use outside of the company.

There is only one thing missing to transform the trial and take a decisive lead: putting these new technologies in the hands of the French and becoming the first country in the world to recognize the right to ownership of digital content. In a sector where competition is global and where innovations develop faster than regulations, we need agile and creative regulators and a responsive administration and legislator.

An abundant ecosystem

It is by creating a favorable environment, by having the most educated market to the uses that we will make France an attractive country at the world level. If some industries participate in familiarizing their customers, the State has the possibility to create the conditions for a much faster and massive adoption in the service of individual freedom.

NFTs can be used as a proof of ownership of any type of physical or digital content, whether it is a document, a driver's license, a car registration document, a diploma, a transport title, a work of art, a video game character. Used as digital passports for our digital identities and products, they will contribute to facilitate their reparability and circularity. Public power and regulation can contribute to accelerate this adoption.

France is fortunate to have a highly developed ecosystem of projects and experts, some of whom are already world leaders in their category. The luxury goods, fashion, cosmetics, and video game industries, to name a few, are beginning to appropriate Web3 technologies to take a major step forward in their digital transformation. French Web3 players are already world leaders who have penetrated the American market, which represents a radical new development for France in the digital world.

If France wants to stay at the forefront of this revolution, it can choose to be bold and use its public power to implement changes. Companies in this sector have already proven themselves to be attractive to private investors and do not require subsidies. What they need is an ambitious initiative that will benefit all citizens by making these technologies accessible in their daily lives.

For the first time in the history of digital transformation, we have the chance to take back control. Let's not miss this opportunity.

Do you want to read more?

Only premium subscribers have access to this article!
Sign up to access the best content, get exclusive info and join the whale community. 🐳

Subscribe for free to read more.

Sébastien Borget
Co-founder & COO at The Sandbox
Pascal Gautier
Chairman & CEO at Ledger
Pierre-Nicolas Hurstel
Co-founder & CEO at Arianee
Nicolas Julia
Co-founder & CEO at Sorare
Frédéric Montagnon
Co-Founder and Chairman at Arianee, investor at The Big Whale

Do you want to join the Web3 revolution?

Find the best of the crypto, NFT and DeFi news every Wednesday and Thursday in the two newsletters written by our specialised journalists Grégory Raymond and Raphaël Bloch.