Switzerland and Blockchain

Switzerland and Blockchain

Switzerland and Blockchain; Ebbs and Flows of the New Technology for Switzerland and Its Government


Switzerland is one of the pioneer countries in the field of Blockchain. It has well joined the world of Blockchain. One of the reasons of the growth of this technology in Switzerland is the pursuit and the interest of its government to develop Blockchain. The government of Switzerland has greatly helped the development of Blockchain in the country and the world through attempting to put it into a framework. But what really happens in Switzerland? Is any distraction or fault observed in the road this country drives in toward Blockchain? What have been the positive points of attending to this technology for the Swiss people? The answer of these questions will be answered in the current paper.


Switzerland and Blockchain


In the short term of the advent of Blockchain in recent years, Switzerland has been able to introduce and apply various business models with the help of Blockchain. One of the pioneering initiatives in the field of Blockchain is establishing Crypto valley, this center which is considered a hub for the activity of different companies and businesses in Blockchain is located between Zurich and Zug. Many of the foreign businesses and startups are drawn to this technologic hub. The reason of joining them includes advantages such as being legalized the activities based on Blockchain in Switzerland, the existence of fundamental infrastructures to address this technology and increasing the growth of the Blockchain ecosystem at Crypto valley (Heinz Tännler, 2019).

Positive Points in Applying Blockchain in Switzerland


As it was pointed out before, a hub has been accommodated to address the activities in the field of Blockchain, which is called Crypto valley. Zurich and Zug have turned into an ideal place to further their business and research purposes in the field of Blockchain. The main idea applied in Switzerland about Blockchain is creating ideas and rules; that is, with the governmental support of Blockchain, the Swiss don’t expect to see in which direction Blockchain will go, they are just innovatively and creatively attempting to move the cycles of this new technology forward. More than 150 active companies are working in the field of Blockchain in Zurich, and these statistics are interesting, which shows the growth and popularity of Blockchain in Switzerland.
The growth of Blockchain and using it to the benefit of economy, politics, health, and insurance will just be possible when the necessary structures are provided for the activity in it. Switzerland is trying to create the chance of success for the banks, startups, regulators, and the other actors who are willing to be present in the world of Blockchain.
Such a decision and attempt is very much admirable to bloom Blockchain, and it is followed by many advantages for all the actors who are busy in the world of this new technology and its belonging. In fact, Switzerland makes a unique status for itself in the world of Blockchain through these attempts. It provides the possibility of furthering different projects based on this technology all around the world for every activist. Besides this macro-look, side benefits advantages of drawing the attention of Switzerland to Blockchain should be mentioned too. Switzerland is considered one of the excellent tourism destinations in the world. The brightness of its statesmen in the management and mixing tourism and Blockchain is followed by many benefits too. For example, various training programs and events are held in the field of Blockchain. In fact, they kill two birds with one stone; both the growth of Blockchain is accelerated in these events, and the tourists who get involved in these events help enrichment of the tourism basket of Switzerland. (Danny Nelson, 2019).


 
Negative Points in Applying Blockchain in Switzerland


One of the important issues every active ecosystem in the field of Blockchain should take into account is that the activity of different startups, companies, institutes, and centers should lead to an evaluable result. The important fact about the growth of Blockchain technology in Switzerland is the issue of efficiency of Blockchain-based projects. In order to reach positive and effective results in the field of Blockchain activity, highly professional workforces are required. It seems that Switzerland lacks some shortage in the field of technical workforce, engineers, and IT specialists. This lack of expert workforce can turn into an Achilles heel for the Blockchain ecosystem in Switzerland. With planning for some migration programs and the possibility of accepting experts as the Swiss citizens, this problem will be resolved to a large extent. Employing Blockchain entrepreneurs and experts in Switzerland can minimize the lack of skillful specialists and  activists in this field (CV VC AG, 2019).
The presence of expert workforces who are employed from different parts of the world to Switzerland will greatly influence its growth as an important hub in the world of Blockchain, and it causes Switzerland to benefit from effective competitive advantages in comparison to the other countries like Germany and the U.S.

Blockchain-Based Government in Switzerland


The government of Switzerland has acted open-mindedly in the issue of Blockchain. It has tried to change itself into a safe and developed base to grow new technologies through its support of Blockchain. For example, in October 2019, a federation called “Switzerland Blockchain Federation” was launched with the cooperation of the private section and government to help the growth of Blockchain and its related technologies (Heinz Tännler, 2019).
Using Blockchain-based structures in governments like the U.S., England, and Switzerland would lead to the improvement of offering public services and launching new businesses. The attempts of Switzerland to change this country into a Blockchain hub is highly probable to be followed by including the structures of this technology to the body and framework of the government. The idea that management networks are decentralized and become of age through Blockchain is put into practice better in Switzerland than any other spot in the world. Being decentralized pleasantly fits in the management structure of the government of Switzerland. Even many experts refer to the similarity of the political and flexible economy of Switzerland to that of decentralized networks in describing and defining them.
Tax and financial rules are very clear in Switzerland; hence, Blockchain can easily be applied in the management system and structure of this country. The history and culture of Switzerland show that the decentralization culture has breached different aspects of the government and the nation’s approach, so it is one of the best places and countries to include Blockchain infrastructures (Pascal Hügli, 2019)


Conclusion


As it was pointed out before, Switzerland is considered one of the most pioneers in the world in the field of developing Blockchain technology. It was mostly due to the clear regulation framework and also steady governmental support of Blockchain-based projects. Through launching Crypto valley, Switzerland has started creating a centralized region to develop Blockchain technology.
 
In addition to all these cases, holding numerous conferences in the field of Blockchain technology and cryptocurrencies in Switzerland has paved the way to increase the public’s attention to Blockchain technology. Despite all these advantages, Switzerland suffers from the lack of expert workforce in the field of Blockchain. Employing experts in the field of Blockchain can make up this shortage through applying residency and submitting work permit.
The government of Switzerland employs Blockchain technology from now on to increase the qualitative level of governmental, medical, and economic services, and it can be expected that Blockchain technology be more extensively used in the near future by the government.


References


CV VC AG (Crypto Valley Venture Capital) (2019), Study on the Competitiveness of the Swiss Blockchain Cluster, Medium, viewed 25 November 2019,

Dannu Nelson (2019), Switzerland’s ‘Crypto Valley’ Is Bringing Blockchain to Zurich,    Coindesk,    viewed    25    November    2019,

Pascal Hügli (2019), Crypto-Switzerland: Matching a Decentralized Government with a Decentralized Currency, Libertarianism, viewed 26 November 2019,

Written by;

Dr. Pooyan ghamari

www.counos.io