Once more, the small nation is about to make history. Switzerland announced this week that is launching a study group to look at the possibility of having a national cryptocurrency. The Government according to Reuters requested a report on the risk and opportunities of launching a state-backed cryptocurrency.
Lately, other sovereign proposals have been heard, from the actual Petro from the Venezuelan government to Iran studying a similar move. Now, is not a nation in distress, but, Switzerland. Known for its economic stability, and furthermore its stable national currency.
Privately I have discussed the pros of such a move for countries going through many problems, from double-digit inflation to lack of trust in the government or economic players, etc. When those factors are not in, then, you can count on a move to promote new technology.
Switzerland may be leveraging on its position as one of the few developed countries with an open arms policy, with precise definitions on how to treat ICOs and its related tokens, as also having one of the most critical worldwide Crypto and Blockchain hubs, known as the "Crypto Valley" in the city of Zug.
The next step is for the Parliament to sustain or refuse the request made by the Swiss Federal Council. The young Swiss lawmakers Cedric Wermuth, member of the Social Democratic Party has called for the study.
This could be accepted as an advertisement move rather than a concrete decision to move forward.
The Swiss National Bank has been reluctant to back like proposals, understanding that the cryptocurrencies count with a better use within the private sector.
Vladimir Putin said that those countries who conquer Blockchain would rule the world in the future, maybe the small Alpine nation has now an opportunity to recover its position as a worldwide Finance hub, this time not as a tax and banking secrecy haven, but as a startup and Blockchain amicable jurisdiction.
It is good to remember that Switzerland so far is keeping the place number one in ICO raised funds worldwide, maybe is time for a clear governmental message to sustain the ecosystem in the long run.
On a similar prosperous tone, Blockshow Europe 2018 has released on the same day a publication where Switzerland comes first on 48 European countries as "Best European Country for Blockchain Startups".
More info on this link.
Taking advantage of the good news for Switzerland, and, having mentioned Zug, we would like to extend our invitation to everybody (at least those around) to join our first Conference on June, 12th and 13th in Zug, organized by @cryptoworldzug.
If you wish to know more go to;
www.cryptoworldzug.io
Under the motto "crypto for everyone" this young Association is trying to reach the general public to educate people on the upcoming economic revolution.
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Congratulation santana33! Your post has appeared on the hot page after 14min with 52 votes.
This is a big news for the crypto world, with this other coins like SBD and steem's value will definitely increase, it is really a huge welcome development. Thanks @santana33 for educating and updating us on the current happenings as regards to crypto in switzerland
Hopefully my country Republic of Indonesia triggered to recognize and legalize the use of cryptocurrency and use blockchain.
It will surely help bringing cryptocurrency to the mainstream masses to understand it deeper. Natural market competition will bring us the best Blockchain service eventually. Will be very interesting to see what companies that will survive. Clearly people are tired of fees and taxes. Also now when the cost of production is going down people will start to demand more from especially Banks.
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