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The Swiss Federal Council has set up a blockchain task force to promote its adaptation in the country, among other things, the Handelszeitung reported in December. This Friday, the 12th of January, the working group meets for the first time. Their task should be to clarify the legal need for action in the course of the rushing use of blockchain and cryptocurrencies. The federal authorities are reacting to the Bitcoin boom and Initial Coin Offerings (ICOs) in the country.

In order to advance the public potential of blockchain exploitation and at the same time to disclose the consequences of the emerging technologies for the Alpine country, the Federal Council, the Swiss government, launched a task force tailored to blockchain technology in December.

Led by Finance Minister Ueli Maurer and Minister of Economic Affairs and Education Johann Schneider-Ammann, the working group consists of representatives of the federal government, the cantons and blockchain start-ups resident in Switzerland. Together with the State Secretariat for International Financial Affairs, the Task Force is to examine the statutory structure in the atmosphere of initial coin offers and blockchain companies and to clarify urgent action needs.

The reason for this is that the block chain is becoming increasingly important for many economic sectors, said Federal Councilor Schneider-Ammann to the Neue Züricher Zeitung. It called for a liberal government, “which opens up opportunities for Switzerland as a location and at the same time reduces risks”. One is particularly dependent on legal certainty. This should create the taskforce.

As a special achievement Schneider-Ammann also praised the participation of the Blockchain companies in the run-up to the initial meeting.
The blockchain pattern student

However, the founding of the Task Force is only a symptom of a long-burgeoning crypto-blockchain boom in the Swiss Confederation. As a result, Switzerland is increasingly maturing into a pioneering state on the European continent. Examples of successful blockchain adaptions and crypto enthusiasm can be found in numerous alpine countries. Especially with regard to the acceptance of Bitcoin & Co., the Swiss are on the rise.

Thus, many towns nationwide wrestle for the primacy of the “Blockchain capital”. The village of Zug, known as the “crypto valley”, is now known throughout Europe and has become one of the most attractive locations for fintech companies. Among other things, the Krypto Valley Association, which with the support of the Federal Council pursues the goal of establishing a globally leading blockchain ecosystem in Switzerland, is based here.

Other Swiss communities are catching up, such as Chiasso, on the Italian border. As in Zug, according to local media, tax payments should soon be possible in Bitcoin.

Another example comes from the medieval city of Lucerne. Since recently, students can pay their bills via Bitcoin. Although the university is the first in Switzerland to accept Bitcoin as a means of payment, many more are likely to follow.