Swiss competitive advantage
Hello Swiss/Switz-based friends,
We are already 21 members of the « cryptocountry » community on the Discord chat, join us there if you have not yet done so.
Today we’d like to share with all of you some interesting thoughts on Switzerland and its role in the crypto industry.
We’d like to firstly highlight a comment by Olga Feldmeier, she’s the CEO of Smart Valor, a startup which intends to reinvent the Private Banking business by disrupting it with blockchain solutions. In an interview to Express.co.uk she mentions Switzerland as a heaven for crypto businesses given the fact the country is decentralized in its nature.
She said:
“If you would put ‘decentralisation’ of power on a line from 1 to 10, Bitcoin is at 10 and Switzerland is at 9”
“Switzerland’s direct democracy is unique example of how decentralisation works in practice. It is actually equivalent to what Bitcoin is in terms of technology.”
In the interview she tackles the subject of Swiss Private Banking and its current state, it’s no secret, it has been in a sharp decline since 2007, since the US started clamping down on its “secrecy” of accounts. Banks in Switzerland lost a huge amount of market share, you can see that from the decline in net income
And by the reduction seen in 2008-2011 period of Assets Under Management (AUM)
This “shock” has triggered the need for redefinition of the Swiss Banking industry's competitive advantage.
According to Mrs Feldmeier, cryptocurrencies will build this competitive edge for Switzerland. The reason why she thinks it will be possible, is that the “good” Swiss regulators: FINMA (The Swiss Financial Market Supervisory Authority) is champion and will not allow “wild-wild-west” crypto shady businesses to thrive, hence it will constantly review and assess risks.
As you can see regulations are highly welcome, my opinion is that this, when available and well set in stone, it will provide a clear set of rules for a level playing field. We cannot wait for those to come, hoping though they won’t be too harsh.
tiptop
Are you a believer in the future of the country as crypto hub? Let us know what you think
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Awesome!! Good post. Im true believer of the future of this country. Already have the top notch quality of life, we shall be top notch in blockchain and overcome the silicon valley's reputation for innovation
Thank you for your comment. Yeah it's really exciting what is going on
This sounds great. I actually know someone within Finma and I can ask him what they are doing in this direction.
I don't really understand the metapher with the democracy. It is indeed a good democracy but mostly we can choose between A and B sometimes C but not A-Z:) wouldn't bitcoin be a-Z?
Cheers!
Thanks for your comment. Yes i'd be great if you'd get any feedback for your FINMA contact, we'd love to hear about it
:) yes maybe that's why she says bitcoin is even more decentralised
I'll try. Most information probably is confidential but I'll do my best:)
Yes, it is A-Z but with all the greek lettres as well:) anyway I'm curious how this continues. keep us informed!
Bytheway, thanks for having sent 1SBD two days ago. True supporter
You are very welcome. As I understand this is a community account? So it makes sense to get a push of every member so these votes get stronger and stronger. I can send even more because I'm powering up all my SBD's anyways. I've no intention of taking anything out of steemit.
That's right
And yes the aim is grow its SP, slowly but surely
You regularly change SBDs for power? Or you wait for a target price? Or particular SBD/Steem ratio?
Perfect, so I'll support this account for sure.
Actually I didn't even know that there are good times and bad times to power up. I regularly power up everything I have. So you say there is potential to do better?:)
Sorry, I have litterally no idea of all these numbers. I'm here to support some guys and have fun reading original content:)
Will certainly do. More cryptocountry news coming. Thanks for the follow up
Nice, I'll check them for sure.
No worries, mate!
Sorry, doublepost..
Yes I do, at least I do hope so!
Im confident we'll make it together
really good post, I actually met her at a meetup 3 months ago, really smart lady.
here is a post I wrote about that back then (and us in a picture)
https://steemit.com/ico/@felander/from-crowdfunding-to-ico-the-future-of-regulation
I am also involved with crypto groups in Zug and regularly go to meetups when i can spare the time.
It is well worth it if you are in Switzerland to embrace the opportunity to join something like crypto valley in the early days.
Heah definetely. Thanks @felander for your comment