ianluca Giancola, Co-founder & Head of UX and Design at blockchain-powered loyalty ecosystem qiibee, commented:
“This is a crucial step in the right direction for Switzerland in terms of consistency and support for blockchain companies.
In recent years, the canton of Zug has established itself as a forward-thinking hub for all things blockchain. While banks, on the other hand, have been naturally more conservative and risk-averse, and have thus hindered blockchain companies’ ability to easily open bank accounts. This is due to the legal uncertainty from banks about whether blockchain companies are able to fully comply with financial market regulations.
With all of this in mind, we think it is important that the Swiss Government, financial authorities, and banks come together to develop recommendations for blockchain companies to become fully compliant, while giving banks and authorities the needed trust and ultimately help facilitate blockchain innovation in Switzerland.“
In other news today, SharesPost, a leading provider of private company liquidity solutions and private capital markets research, released a report detailing the broad market opportunity for the blockchain industry. The report, titled Investment Strategies for Blockchain: A $2.5 Trillion Opportunity, analyzes specific blockchain use-cases across 20 industry verticals and estimates a value creation opportunity exceeding $2.5 trillion over the next ten years.
The market opportunity for blockchain technology over the next decade is notable in the following verticals:
- Supply Chain/IoT: $550 billion
- Identity/Security: $420 billion
- Financial Services: $400 billion
- E-commerce: $300 billion
- Infrastructure: $200 billion