Swiss Blockchain Sector Is Growing at Breakneck Speed: Report

The Blockchain sector in Switzerland is currently experiencing growth. Statistically speaking, there are already around 600 Blockchain-oriented entities that employ

Wed, 10/10/2018 - 16:31

Swiss Blockchain Sector Is Growing at Breakneck Speed: Report

Cover image via U.Today

Read U.TODAY on

Google News

The Blockchain sector in Switzerland is currently experiencing a mammoth-size growth, according to a local media outlet Swissinfo. Statistically speaking, there are already around 600 Blockchain-oriented entities that employ a total of 3,000 people, almost doubling last year’s numbers. Top 50 startups in Zug's Crypto Valley are collectively worth $44 mln.

As U.Today reported earlier, Switzerland is on track to become a “Crypto Nation” (this term was suggested by the country’s economics minister Johann Schneider-Ammann). Due to the enormous potential of Blockchain for the Swiss economy, local politicians are already working on regulations that would accelerate the growth of this niche.

It doesn’t come as a surprise that Bitmain, a Beijing-based mining giant, chose Switzerland as a springboard for its European expansion.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.