Switzerland Govt Creates Swiss Blockchain Federation

News | November 1, 2018 By:

The government of Switzerland has created a new association to promote the attractiveness of the country as a location for blockchain-based activities.

The Swiss Blockchain Federation, a public-private partnership, will replace the Blockchain Taskforce, which was created in December 2017, and will continue the work of the latter on a long-term, professional basis. It will be headed by Heinz Tännler, finance director of the canton of Zug in Switzerland. Mathias Ruch, founder and CEO of CV VC and co-founder of the Blockchain Taskforce, will be the chairman of the Expert Council.

The ultimate goal of the the Swiss Blockchain Federation is to maintain and promote the attractiveness of Switzerland as a blockchain destination. It will bring together agents from the federal government, the cantons, the economic sector, science, and society, and act as an incubator for ideas about blockchain-based applications and activities that will have a direct impact on the economy and society at large.

Tännler said that in order to cement Switzerland’s leading position among the international competition for the best companies and ideas, joint efforts are required from the fields of industry, politics, economics, and science. He added that this will encompass both the legal framework and securing the potential of technological development within society.

Ruch said that the founding of the Swiss Blockchain Federation is an important step from the point of view of blockchain companies.

““We will be able to rely on top-class professional support and industry-specific expertise right from the beginning, both on the Board and on the Federation’s Expert Council,” said Ruch. “For example, among the members of the Board are Dr. Arthur Vayloyan, CEO and Board Member of Bitcoin Suisse, and Philipp Stauffer of FYRFLY Venture Partners, who has excellent ties to Silicon Valley.”

Switzerland is known as a crypto-friendly nation due to both its establishment of a virtual currency hub, “crypto valley,” in Zug and its status as a tax-free haven for crypto investors. Crypto valley is currently home to more than 200 companies, including many blockchain and crypto firms.