Switzerland Continues to Develop as Blockchain Hub

For decades, Switzerland was synonymous with secretive banking practices and personalized accounting strategies.

The number of banks in Switzerland dwindled from well over 300 to nearly 250 by 2016.

Most people don't bank in Switzerland just to get the same service that they get stateside.

Crypto Steps In. According to a report in The Wall Street Journal, Switzerland is becoming a burgeoning hub new crypto startups.

Zug, a wealthy municipality in Switzerland, is serving as the hub for crypto development in the country.

The companies flooding to this area cover the gauntlet of crypto projects, and they include Sirin Labs, which is developing the first blockchain smartphone and desktop computer.

Another blockchain development collective, Trust Square, is similarly seeing a surge in popularity blockchain startups grow in number.

The company's leader, Daniel Gasteiger, sees their location as the hub or the next generation of blockchain innovation.

With a wealth of talent and the proliferation of blockchain technology across the tech space, Switzerland is quickly becoming the blockchain capital of the world.

What's more, while Switzerland may be emerging as a hub for blockchain development, the technology is predicated on a decentralized ethos, and there are compelling projects and innovation centers all over the world.