Crypto Valley – Switzerland Blockchain Technology Business Hub?
As you may have noticed, a lot of blockchain companies are based in Switzerland. Specifically, a growing number of companies are based in the canton of Zug, Switzerland, in a place that’s become known as “Crypto Valley”.
Just like Silicon Valley became the hub of the “dot com” boom, Crypto Valley wants to become the hub for the blockchain industry.
A website called CryptoValley.swiss aims to attract new blockchain companies to the region. The website is filled with information about Crypto Valley and its benefits to blockchain companies, decentralized businesses, and cryptography institutions. CryptoValley.swiss was created by an independent, government-backed organization called the Crypto Valley Association, which was founded in January 2017. We’ll talk more about them below.
CryptoValley.swiss describes the area as “one of the world’s most technologically sophisticated and innovation friendly locations.” It also lists local events, key benefits, and reasons to consider moving your decentralized business to Zug.
Zug, by the way, is located just south of Zurich, approximately halfway between Zurich and Lucerne.
What Does Crypto Valley Have To Offer?
The new CryptoValley.swiss website aims to share the benefits of Crypto Valley with the world. Here are some of the key benefits outlined by that website:
- Home to visionary entrepreneurs and pioneers of cryptographic technology
- Access to deep pools of capital and world-class engineering talent
- Low taxes and friendly regulations
- Deep-seated culture of privacy protection and decentralized institutions
- Supportive startup ecosystem with world-class service providers
- World-leading educational and research institutions
- Friendly, accessible, and support government
- Vibrant community and good quality of life
Obviously, Switzerland is widely recognized as being one of the world’s best countries in which to live and work. Swiss citizenship is notoriously hard to acquire. However, a growing number of blockchain-related businesses now call Crypto Valley home.
Why Is It Called Crypto Valley?
Crypto Valley refers to the ecosystem centered in and around the Swiss canton of Zug. Just like Silicon Valley, there’s no specific street in which Crypto Valley is located. It’s just a general name for the area due to the rapid centralization of blockchain-based businesses.
The rapid growth of blockchain businesses in the area has given rise to the name Crypto Valley. Some of the best-known companies with offices in the region include:
- Bitcoin Suisse
What Is The Crypto Valley Association?
The Crypto Valley Association is an independent, government-backed association. The organization was established in January 2017 – about 3.5 years after the first major blockchain company was founded in Zug.
The official CryptoValley.swiss website describes the company’s goal as “to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem.”
The term “Crypto Valley” has rapidly gained in popularity over the last year. The Swiss government appears to have recognized the power of blockchain technology, and they see an opportunity to attract the world’s best blockchain businesses to the region.
Obviously, Silicon Valley companies like Apple and Google contribute enormously to the economies of the United States and California. The Swiss government sees similar potential in upcoming blockchain companies – which is why they’ve backed Crypto Valley and the Crypto Valley Association.
How Does The Crypto Valley Association Help?
The Crypto Valley Association aims to attract new talent to the canton of Zug – including the world’s best blockchain companies and engineers.
Here’s how the association plans to do that:
“We support and connect startups and established enterprises through policy recommendations, projects across verticals, initiating and enabling research, and organizing conferences, hackathons, and other industry events.”
At the same time, the Crypto Valley Association seems to recognize that blockchain will always be an international industry, and that means they need strong international partnerships to succeed:
“With active connections to similar hubs around the world, we also ensure Crypto Valley’s participation in the global efforts to foster blockchain and cryptographic technology innovation.”
Who’s Behind Crypto Valley?
Contrary to what some people think, Crypto Valley didn’t spontaneously emerge out of thin air.
The project was initiated by Johann Gevers, who identified Switzerland as the ideal place to build blockchain technology due to its “decentralized, citizen-controlled political system, its centuries-old culture of individual rights, innovation, and entrepreneurship, its neutrality, stability, and business-friendly environment, and its world-class infrastructure and educational institutions.”
Gevers is the founder of Monetas. He moved his cryptofinance startup to Zug, Switzerland in July 2013. Soon after, he started building the Crypto Valley ecosystem in the canton by establishing supportive relationships with the authorities, attracting the best crypto startups, helping new companies setup operations, creating a network of expert professional service providers, and driving forward the best crypto-industry regulations.
Today, the Crypto Valley Association is led by Oliver Bussmann (President), Vasiliy Suvorov (Vice President), Rene Husler (Secretary and Treasurer), Sam Chadwick (Board Member), and Soren Fog (Board Member).
Crypto Valley Association Membership Pricing
The Crypto Valley Association offers two different membership levels, including:
- Individual Member: 100 CHF
- Corporate Member: 100 CHF
You can pay your membership fee using fiat or, understandably, using cryptocurrencies.
Crypto Valley Conclusion
Switzerland makes sense as the hub of the cryptocurrency industry. It’s a neutral, stable, highly-developed country with a long history of neutrality. The first cryptocurrency companies were founded in Zug in 2013. Earlier in 2017, the Crypto Valley Association was founded to push forward the region while attracting new businesses to the area.
You can learn more about Crypto Valley and the Crypto Valley Association today by visiting CryptoValley.swiss