Reports by PwC’s Strategy& and the Crypto Valley Association have highlighted how Zug, better known as the “Crypto Valley“, has emerged as a hotbed for blockchain-based companies and advisory services, with many successful ICOs having been launched there over the past year. These developments have been helped thanks to the Swiss regulatory framework, which has to-date played an active role in supporting companies working with blockchain technologies. Switzerland’s tax system is also very attractive for financial service firms, of which there are many among the blockchain startup community.
Marco Abele, CEO of a Swiss-based startup, availing the country's beneficial landscape for blockchain-based business venture, explains his thoughts below:
"Switzerland has traditionally had a powerful financial sector, highly valued and respected in the world. Swiss culture is interesting in that these traditional values especially of trust, respect, and courtesy, embedded in the Swiss financial sector for decades, are readily transferable for entrepreneurs in their respective field of interest.
Nevertheless, even if Switzerland was the home of traditional high-end banking in Europe, its innate culture is grounded on innovation and it has led to embrace the most innovative new industry in the world right now in the form of blockchain technology and cryptocurrencies. Swiss Universities too, are embracing this change, researching blockchain and its impact on the world, with an intellectual curiosity that is uniquely Swiss.
I have sought to leverage my experience of these values in Switzerland's most prestigious bank to build my own organisation. I don't know of another country where a former senior banking executive could launch a totally innovative investment platform that tokenises assets from vineyards, to sports cars, to luxury watches on the blockchain, all the while being compliant with that country's law.
I have also been influenced by the requirement of high quality which is associated to any Swiss made products while creating my start-up. It is particularly valuable for young enterprises like mine, to set up high quality level expectations to succeed reflected in the team you select, the product you deliver, and the image you convey.
Lastly, I believe the Swiss culture is empowering people to create their own destiny and push them towards new frontiers as they manage their life and their career. I am sure it creates a spirit of adventure and entrepreneurship."
-- Marco Abele.