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RE: Breaking: How Switzerland Reinvented Itself As Crypto-Haven
This is a far better written and more informative article on this topic than what I have read before and makes more sense of it. But no surprise that Swiss would be jumping onboard with crypto. Mind you, I some how think that the Swiss banks won't be too pleased about competition to their business model being encouraged.
you are right @leo ! so what is your thinking about swiss banks and competition exactly? looking forward to your answer!
Well, as you know, blockchain/cryptocurrency is revolutionising the finance industry (and others) and making their business model obsolete. Banks the world over, have already been very vocal about having cryptocurrencies "regulated", meaning bound up in convoluted laws, registration fees and most importantly taxes. This is how innovation is stiffled, killing off any competition from disruptive technologies or business models.
A great comparison is renewable energy. In the beginning governments actively funded development and installation of renewables. Until, renewables became so efficient and cost effective that they became a serious viable option for energy production. Now in many parts of the world, you are penalised for producing your own energy, because the incumbent energy producers, coal, nuclear and others have been made obsolete, and loosing money. They then use the accumulated money and influence they have, to have politicians amend legislation to their benefit and to the detriment of the competing options.
Meanwhile, you don't have to look far, to see that various banks and governments are developing their own versions of blockchain/crypto, that will be centralised and therefore remain under their control, thus maintaining their status quo. All other options will be then "outlawed".
But that is not the end of the story. There will be adaption to these attempts to "take over" crypto. And that is another entire discussion thread.