Switzerland sets itself up to be the world's first "crypto nation". Switzerland has bet heavily on crypto technologies, to the point of transforming itself into the cradle of this financial revolution. But there are yet many obstacles to be dislodged. By Mehdi Atmani
Bank secrecy is dead. Long live the crypto economy! This expression nicely encapsulates the Swiss "conversion", which began in 2015 when bank secrecy was declared clinically dead. Within three short years, Switzerland has built a framework that is favourable to cryptocurrency (Bitcoin, Ethereum, etc.) and crypto technology (blockchain) development, until finally setting itself up, in 2018, to be the world's first "crypto nation". This evolution reflects the resilience of a nation where banks have been sacrosanct, since these innovations flourish in an ecosystem that is decentralized and "de-intermediatized". It's a revolution that is turning some long established business models on their heads, and creating new ones in their stead.
Source : Magazine PME