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07.06.22 | 2 min

Launch of the national Swiss initiative «Home of Blockchain»

The financial industry is facing a major transformation. On the one hand, this is a major challenge, but on the other hand, these changes also offer great opportunities for Switzerland as a business location.

On Tuesday, May 24, 2022, at the WEF in Davos, the national initiative On Tuesday, May 24, 2022, at the WEF in Davos, the national initiative «Home of Blockchain» was launched by Federal Councilor Ueli Maurer together with the launch of the Swiss Digital Asset Market Report 2022.

The initiative aims to build Switzerland into the world's leading blockchain hub and to setup the most advanced institutional ecosystem for digital assets in the world.

It aims to make foreign companies aware of Switzerland's many strengths and advantages. The initiative will issue blockchain-related publications, participate in global conferences and, launch a media campaign to market Switzerland as an ideal ecosystem for blockchain applications worldwide. The recently enacted DLT legislation, which has created a transparent and business-friendly framework, is one of many reasons why foreign companies find Switzerland attractive.

In his opening speech, Federal Councilor Ueli Maurer spoke of how blockchain technology will be one of the core technologies for transforming the financial industry over the next 10 years, if not the next few decades. Switzerland wants to be at the forefront here and win the international competition for the best location thanks to teamwork between all players (SW developers, users, authorities, regulators, etc.). 

 This offers great opportunities for Switzerland as a business location. Switzerland is already a leader today, thanks to Crypto Valley, when it comes to the development and application of blockchain technologies. The digitalization of the financial industry continues, and it will change many things. Assets are shifting from the physical to the digital world. This is a new big trend, also triggered by NFTs (Non-Fungible Tokens). As with any global trend that can't be stopped, it makes sense to open up and embrace the changes as opportunities and use the trend to your advantage. In the case of blockchain applications, we even have the chance to not only take advantage of this global trend, but to play a global role here from Switzerland and work our way up to become the leading expert. The initiative wants to seize this opportunity and implement it. 

Home of Blockchain is a new public-private partnership under the patronage of Federal Councilor Ueli Maurer, Head of the Federal Department of Finance, Doris Fiala and Andri Silberschmidt (Swiss National Councilors), Heinz Tännler (President of the Swiss Blockchain Federation & Cantonal Councilor of Zug), Switzerland Global Enterprise, the Cantons of Ticino and Zug and Lucerne Business the Economic Development Agency of the canton of Lucerne.