Switzerland with a landscape of many beautiful lakes and mountains is most probably best known for the yummy things in life such as cheese and chocolate… and Swiss watches!
The Swiss watch industry started in 1541 and by the century, Genevan watches were reputed for their high quality which lead to the establishment of the Watchmakers’ Guild of Geneva in 1601. Switzerland is also known for holding a neutral position in international conflicts, as a leading Financial Centre and now, Bitcoin.
In terms of institutional, investor and consumer adoption, Switzerland is at the forefront.
The Swiss Government is Paving the Way for Crypto Banks and as Barack Obama once said “Bitcoin is like having a Swiss Bank In Your Pocket“. Low tax Zug aims to become Switzerland’s ‘Crypto Valley’ and in a positive step forward, Zug are making Bitcoin payments for municipal services permanent.
Procivis, a Swiss-based startup, was launched with the aim to develop and offer a tamper-proof “e-government as a service” solution and recently presented its proof of concept for a Blockchain-backed e-government platform.
For investors, Vontobel is the first Swiss issuer to offer a tracker certificate on the Swiss Stock Exchange for bitcoins.
Switzerland is the home of many corporation headquarters due to stability, neutrality, infrastructure and low tax. In 2016 Ernst & Young (EY), one of the “Big Four” accounting firms, started accepting Bitcoin as payment for auditing and advisory invoices and installed their first ATM. At this year’s World Web Forum in Zurich with over 1400 delegates from global corporations, EY showcased two Bitcoin ATMs or BTM’s as they are known, to raise awareness of digital innovation.
Learn how Bitcoin Companies can Legally Operate in Switzerland.
According to EY, 90% of Swiss adult population use a smartphone and 80% a portable laptop and on average, Swiss people spend 8.8 hours per day on digital devices, 1.9 hours on the smartphone.
UBS, Credit Suisse, Swisscom, Swiss Life and Ernst & Young launch a blockchain focused accelerator to assist early-stage FinTech startups. “Kickstart is the most ambitious Swiss startup program to date. Never before has Switzerland or Europe had a multi-corporate and equity-free accelerator program welcoming founders from around the world.”
Switzerland wants to open up a Sandbox to attract more Blockchain Startups
To increase consumer adoption and easy access to Bitcoin, the Swiss railway ticket machines are now selling Bitcoin. There are also various large global exchanges that support Switzerland or connect to a buyer or seller via LocalBitcoins.
There are many meetups around Switzerland – find one close to you. Meet up and mingle with fellow Bitcoin Believers to discuss the future of Bitcoin and keep informed regarding developments in the digital economy.
Get your copy of What is Bitcoin
This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.