Introduction: Web3, from Skepticism to Gradual Adoption
Web3 has long been perceived by institutions, whether public or private, as an experimental and even uncertain space. Initially, funding was often sporadic and opportunistic, lacking a real commitment strategy. However, as the ecosystem matured, institutions gradually shifted towards more structured and strategic approaches.
Why this transition? Why are institutions moving from sporadic support to more structured strategies? This article aims to explore this evolution by analyzing key stages and presenting concrete examples.
An Initial Phase of Experimentation: Opportunistic Funding
In the early days of Web3, institutions often took a cautious approach. Their strategy was to selectively fund promising initiatives without a long-term vision. These sporadic investments aimed mainly to test innovation without taking too many risks.
Several examples illustrate this experimental phase: public grants for local blockchain projects or sporadic investments from major corporations into Web3 startups. At this time, support was seen as a bet on the future but without any structured commitment.
However, this strategy quickly revealed its limitations. On the one hand, it did not provide stability for funded projects, which were often forced to constantly seek new funding. On the other hand, the lack of follow-up made it difficult for institutions to measure the impact of these investments.
Moving Towards a Structured Approach: Integrating Web3 into Long-Term Strategies
Faced with the limitations of opportunistic funding, institutions have become increasingly aware of the need to structure their commitment. The goal now is to support the development of Web3 technologies in a sustainable and coordinated way.
The European Union and the EBSI Initiative
The European Commission has launched EBSI (European Blockchain Services Infrastructure), a cross-border infrastructure project aiming to use blockchain for public services (education certificates, cross-border identity, etc.). It reflects a coordinated and multi-year effort to integrate decentralized technologies into the fabric of European digital governance.
SG-FORGE and Regulated Crypto Finance
On the private side, Société Générale, via its subsidiary SG-FORGE, has been deeply involved in the tokenization of financial instruments. In 2023, SG-FORGE issued the first euro-denominated stablecoin under full French regulation, usable on public blockchains. This represents a structured strategy aligned with the bank’s broader digital finance goals—not just a symbolic experiment.
Other examples include innovation labs within central banks, public-private incubators (like those created in Dubai or Singapore), or strategic partnerships between legacy players and blockchain protocols.
These initiatives mark a transition: from opportunistic curiosity to operational integration and long-term value creation.
The Motivations Behind This Evolution
Why are institutions shifting towards more structured strategies? First, to secure innovation. By involving more stakeholders and establishing cooperation frameworks, institutions aim to guide Web3 development without stifling creativity.
Secondly, it’s about boosting attractiveness. Public institutions want to attract talents and innovative companies, while private groups aim to strengthen their positioning as pioneers in digital transformation.
Lastly, this structured approach helps consolidate the Web3 ecosystem by fostering synergies between projects, institutions, and innovation players.
Challenges and Perspectives: What Does the Future Hold for This Collaboration?
Although this transition is promising, it is not without challenges. Bureaucratization can hinder the responsiveness and creativity of Web3 projects. Furthermore, integrating decentralized models into institutional structures remains a complex task.
Nevertheless, the opportunities are significant. A successful structuring process can enhance Web3’s legitimacy and facilitate public acceptance of these new technologies. The alliance between institutions and the ecosystem could also catalyze innovations that might otherwise struggle to emerge.
Conclusion: A Partnership Under Construction, With Both Opportunities and Risks
The shift from opportunistic funding to structured strategies reflects a real desire to sustain Web3 innovation while securing its development. This evolution brings resources, legitimacy, and coordination—but also raises critical questions.
Can institutions embrace Web3 without reshaping it into their own image? Will decentralization remain meaningful in a landscape dominated by structured actors?
To succeed, this collaboration must remain balanced:
Structured enough to provide long-term support,
Yet flexible enough to preserve the culture of openness and autonomy that lies at the heart of Web3.
The game is still being played—but the rules are no longer written by startups alone.
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