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250 participants participated in Infrachain 18, Switzerland, the first blockchain conference focused on the public sector and infrastructure
Federal Councilor Ueli Maurer welcomed the participants to the conference at the Stade de Suisse in Bern, stating that: "Switzerland has a large hand of cards regarding the development and use of blockchain technology".
To maintain its pole position, six existing laws will be amended. The Federal Council report will be published in two weeks.
Switzerland is known globally for its pioneering role in the development and application of blockchain technology. One of the many reasons is the continuous transfer of knowledge and exchanges between entrepreneurs, start-ups, public authorities, politicians and developers in and around Crypto Valley.
Today, organizations like EY, Tezos, Swisspower, Postfinance, Die Post, SICPA, B3i and Elblox have gathered in the Swiss capital to showcase their use cases and projects in front of renowned politicians and members of the public sector. Adrian Hasler, Prime Minister of Liechtenstein, has introduced Liechtenstein's new blockchain-law, which has recently made headlines worldwide.
The Infrachain conference was founded and organized by the Swiss Blockchain Federation, which is conducting a campaign for Switzerland as the main global hub for blockchain developments.
Swiss Miniset: the number of blockchain applications will explode
Federal Councilor and Finance Minister, Ueli Maurer, is convinced that the number of blockchain applications will explode in the coming years. Switzerland has the best needs of local entrepreneurs, builders, scientists and go-getters, but according to Maurer it is also important not to underestimate international competition.
Maurer has defined the following objective: "Switzerland will lead the way in the development of blockchain and use cases". To get there, legal certainty and targeted legislation will be essential. Maurer also stressed that, at the same time, the regulation should not "strangle" blockchain entrepreneurs and developers in the early stages, but instead provide guidance. It should encourage start-ups to realize their ideas in Switzerland and attract foreign talent.
This is also the tone of the Blockchain / ICO report, which the Federal Council will publish in about two weeks by an appointed working group. "Switzerland does not need new special regulations for blockchain, but we will have to change six existing laws to include this new technology that will impact many industries in the future," says Maurer.
Jörg Gasser, Undersecretary of State for International Finance, heads the working group that is reviewing the legal framework for specific applications in the financial sector of blockchain technology to highlight the concrete need for action. He agrees with Maurer and later stated that there will be specific and targeted amendments in civil law and financial market legislation. The state is implementing a general guide, with the aim of strengthening and further expanding Switzerland's position as an innovation hub for fintech and blockchain.
Switzerland as a leading hub for fintech and blockchain startups
Federal Councilor Maurer is convinced that Switzerland can maintain its pole position as a privileged place for blockchain startups. According to Maurer, some of the advantages of Switzerland are short decision-making processes and continuous dialogue between politicians and industry. This is one of the most important requirements in the blockchain world, since changes take place quickly and on a monthly basis.
Furthermore, it is important that politicians maintain dialogue with the blockchain industry, to understand current developments and needs. Switzerland should be proud of the results achieved. Although humility is part of Swiss DNA, that commendable trait must be confidently exchanged on all levels.
