Blockchain Evolutions in Switzerland: Voting and Banking

Recently, much of the news related to cryptocurrencies and blockchain was surrounding their developments in Switzerland.

In this context, the Crypto Valley Association has been created, with the support of the Swiss government, with the objective of being "An independent, government-supported association established to take full advantage of Switzerland's strengths to build the world's leading blockchain and cryptographic technologies ecosystem."

Swiss banks have always been known for their client orientation that, in the past, has mainly been related to the privacy and secrecy around customers' accounts.

Nowadays, as more and more Swiss are interested in the crypto world - both as investors and as founders of startups - bank products are in the process of being adapted.

Crypto entrepreneurs are also flourishing in the country, as many Initial Coin Offerings are initiated in Switzerland.

In Crypto Valley, the city of Zug allowed residents to take part in a blockchain-based test vote, between June 25 and July 1, as this Swiss city evaluates whether the technology could be used on a broader scale.

"We must shape this new world together - with optimism and boldness, but also with prudence and consideration. If we succeed, blockchain can provide new opportunities, new jobs, new levels of security and new prosperity."

On top of that, Swiss Infrastructure and Exchange Group, the parent company of Switzerland's principal stock exchange announced that it is building a fully integrated trading, settlement and custody infrastructure for digital assets.

The Swiss stock exchange is fully regulated as an operator of Financial Market Infrastructure by Swiss authorities, FINMA and the Swiss National Bank, and intends that the planned 'digital asset ecosystem' to become a reality.

The developments of the use of blockchain in the private and public sector and the creation of Crypto Valley are all demonstrating that those qualities are still there.