This month, the first Swiss home was tokenized and sold in canton Zug to four investors using blockchain. But how do homeowners then trade their tokens? And will blockchain eventually squeeze out the middlemen in real estate? Bastiaan Don, the founder of blockimmo, breaks it down.
The Liechtenstein Blockchain Act will go into effect on January 1, 2020. Thomas Nägele, president of the Crypto Country Association and co-author of the act, expects up to 20 Swiss companies to relocate to Liechtenstein next year. “When it comes to legislation, we are ahead,” he says.
Here’s what happened in blockchain in Switzerland this week. The Libra Association COO says requests to join the project are rolling in worldwide; the State Secretariat for International Finance shares its latest update on Libra; a new blockchain pilot in canton Schaffhausen; and gearing up for Crypto Finance Conference 2020.
Despite scrutiny, Libra Association COO Bertrand Perez told CNNMoney Switzerland in a recent interview that he’s confident about getting more members on board. “For now, the discussions we are having with the founding members are very positive and good.” He says requests to join the association are building up worldwide and hopes to add Swiss companies to that list.
Arab Bank Switzerland just opened up to crypto, making it one of the earliest to do so. The reason? Demand for crypto custody and brokerage is coming from institutional clients from the Middle East and Swiss family offices, according to CEO, Serge Robin.
Another Swiss bank opens doors to crypto; the University of St. Gallen adopts blockchain to fight academic fraud; Bank for International Settlements hosts a conference on stablecoins in Basel; and new blockchain graduates in Switzerland.
The University of St. Gallen is using blockchain so employers can verify if a diploma is real or fake. The new pilot project aims to issue 200 tamperproof certificates by next year, says CIO Harald Rotter. It comes amid concerns of a global rise in this type of fraud.
Here’s what happened in blockchain in Switzerland this week: Swiss National Bank chairman delivers speech on digital tokens; crypto bank SEBA aims to go live next month; and blockchain makes a mark at Swiss Digital Day.
SEBA Crypto is one of Switzerland’s first crypto banks after it received the green light from regulators. CEO Guido Buehler says they’ve spent less than 30 percent of the CHF 100 million raised in building up the bank so far. Buehler says now their next step is to generate profits to reach the breakeven mark.
Here are the top Swiss blockchain stories of the week. Sygnum takes the next steps in building a crypto bank; SIX CEO signals progress for a digital exchange; and an SNB survey shows that blockchain is used by less than 5 percent of Swiss banks.
Sygnum co-founder Mathias Imbach says “our phonelines are ringing constantly” after receiving a banking and securities license from FINMA. He explains the company’s next steps in building one of Switzerland’s first regulated crypto banks.
Alexander Brunner, author of Crypto Nation Switzerland, breaks down the history of Switzerland as a blockchain hub.