Cryptocurrency companies in Switzerland

Cryptocurrency companies in Switzerland

According to a recent study by CV VC investment company, the number of companies in the Blockchain Area in Switzerland and Liechtenstein is increasing.

According to the report, despite the downside of the digital currency market during the period known as the “CryptoCurrency Winter,” the companies associated with the cryptocurrency and the blockchain in the region are opening one after the other.

CV VC, in this report, explains that by the end of December 2018, 750 companies located in Switzerland and Liechtenstein were using the technology described in the booklet. This represents a 20% increase from last year, which includes 121 new companies in this region.

Among these companies, the four companies that are known as “Unicorns” cost more than $ 1 billion. The four giants of the crypto industry are Bitmain, Cardano, Difinity Foundation and Ethereum.

According to the report, the top 50 digital currency companies in Switzerland, which are located at the site of the Cripto Valley, account for about 5% of the global digital currency market.

In addition to pointing to the growth of companies in the region, the study explains that the recent decline in the price of digital currencies has caused the market value of the 50 largest blockchain companies in Switzerland and Liechtenstein to fall from 44 billion to $ 20 billion in the fourth quarter of 2018 Reaching a drop of 55 percent.

In these 50 companies, there are about 480 indigenous people working. In general, about 3,300 people work in Liechtenstein and Switzerland in digital currency-related companies, most of them Zug and Zurich.

The Swiss and Liechtenstein governments have been active in supporting the growing industries of the Blockchain currency. In early 2018, Audrin Hausler, announced the introduction of new laws to regulate business models and infrastructures with blockchain.

In the draft bill, the blockchain-based business models of the business could operate in a way that would not be legal for both businesses and customers.

In February 2018, the Swiss Minister of Economic Affairs rejected the idea of ​​specific legislation for the blockchain which he believed could be altered in existing law to ensure that companies active in the field of the blockchain and digital currencies were reassured. The Swiss government is expected to reform six laws in the country to improve the digital currency industry in 2019, including civil and bankruptcy law.

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