Zurich Falls Behind in Bitcoin Adoption and Fintech Development

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All places aren’t made equal, the same holds good for governments too, especially when it comes to Bitcoin and other digital currencies. The differences become evident while comparing two Swiss cities, Zurich and Zug in terms of digital currency adoption.

Zug is a model city for Bitcoin adoption, especially after the City Hall decided on allowing people to pay fees and bills in Bitcoin. But the same can’t be said about Zurich. The authorities in Zurich are neither interested in actively promoting the use of Bitcoin nor in adopting it.

According to reports, the city council has cleared the air by saying that it has no intention of following the footsteps of Zug anytime soon by relaxing the norms to accommodate digital currencies. The city council’s stand was announced in response to a request raised by Martin Luchsinger and Matthias Weismann, two GLP Councilors.

While the administrators of Zurich may not have enough confidence in the digital currency at the moment, it is expected to change soon. The present uncertainties about the digital currency are likely to be derived from the absence of clear regulations and the volatility of Bitcoin prices. However, the City of Zurich, as a part of its growth strategy for

Read more ... source: TheBitcoinNews

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