Switzerland Maintains No 1 Position

A number of factors contribute to Switzerland becoming the fertile ground for adoption of blockchain technology:

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Switzerland is known for its flourishing blockchain sector. There are over 600 blockchain-based enterprises in the Crypto Valley in Zug and the neighboring Liechtenstein alone. In fact, Crypto Valley is growing to become one of the world’s leading blockchain ecosystems and crypto and distributed ledger technologies. The top 50 blockchain companies in the Crypto Valley employ some 440 people and together these units are worth an estimated $44 million and hold in excess of $2 billion to spend on research and development. And surprisingly, much of the funding has come from initial coin offering (ICO) and crowd investing programs.

REGULATORY SUPPORT

Regulators as well as politicians give adequate support to the sector and their combined efforts in creating a legal and regulatory framework have helped the new technology to flourish. In fact, there is an often heard term ‘Crypto Nation’, which was in fact coined by Swiss Economics minister Johann Schneider-Ammann. In fact, there is a high blockchain knowledge level, the position of blockchain is at the start of the implementation phase and there are possibilities for startups to experiment with little investment in the Sandbox. Many industry watchers see blockchain as an influencing factor in sectors like financial services, insurance, logistics and healthcare in the immediate future.