There are now a number of states, cities and city-states that give themselves the title of “Blockchain country” or “Blockchain city”. Meanwhile, the Swiss city of Zug has long since become one of the most attractive locations for fintech companies and is considered as “Crypto Valley”.
The canton of Zug in Switzerland enjoys an impeccable reputation even beyond the borders of the Confederation. Not only is it considered to be the most prosperous canton of an already wealthy country, the city of Zug with its beautiful old town is also has a valley of rivers and lakes and therefore offers a very high quality of life. German visitors especially appreciate the train service in Switzerland. Now, the canton is also in the Blockchain area to play in the first league.
It is estimated that between 50 and 100 Blockchain start-ups already exist in the entire canton – in terms of density this would be unique in the world in terms of population. The reasons for the high attractiveness of the Swiss location can be seen relatively quickly: a relatively low tax burden for companies compared to Europe, coupled with a regulatory framework that relies more on the forces of the market than on the power of the state. Zug has found a way in which many other countries around the world are still working.
Now, lets talk about the Zug mayor, Dolfi Müller. The filmmaker Manuel Stagars, who shot the documentary “Fintech Made In Switzerland” last year, describes Müller in an interview with the Luzerner Zeitung as a pioneer in the Blockchain scene. He says that he is not afraid of the challenges of digitization, but is optimistic and would rather accept new developments than be taken by surprise. The head of government of Zug creates brilliant challenges for the “global village” train.
In particular, young companies and start-ups should be lured into Zug in order to expand further the site’s superior corporate culture. In the canton, for example, the status of Crypto Valley was proclaimed, in line with the pioneering location for technology start-ups in the USA. Zug is targeting the Blockchain sector, whose company is recruiting Zug Kanton. For example, well-known and internationally active Blockchain start-ups such as Xapo, ShapeShift, Monetas and Etherisc are based in Zug, as well as Ethereum’s foundation and management, even though its founder and CEO, Vitalik Buterin, recently moved from Zug to Singapore.
A milestone in the development of Zug to the Blockchain site was the acceptance of Bitcoin payments in the city, which was already decided in May 2016. This officially enabled the citizens of Zug to pay for public services in Bitcoin – a revolutionary large-scale project.
Despite the fact that only a fraction of citizens accepted this possibility, the initiative of the Government of Zug sent an important signal to the Blockchain and crypto scene: we are open to the new technology and ready to contribute to its further development in our canton.
Nevertheless, the canton does not rest on its laurels, but constantly strives to further promote and underline the financial location Zug and its status as innovative hubs for the crypto sector. In order to focus even more on the field of cryptographic investments in the future, the Crypto Finance Conference, which will take place in St. Moritz in January 2018, will therefore primarily address investors who are interested in the further development of the Blockchain Sector. So now is already working on a successful future for the Swiss Crypto Valley.
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