The economy of Switzerland will depend on blockchain

June 23

​​​​​​​It is the opinion of one of the members of the Federal Council of the country.

The head of the Federal Department of Economic Affairs, Education and Research of Switzerland Johann Schneider-Ammann said that soon blockchain would penetrate all branches of the economy of the country.

According to the politician, the state should pay more attention to the popularization of technologies in order to dispel fears of people about the digital future. In addition, the Swiss authorities need to train the new IT professionals and support research projects in the field of blockchain, Schneider-Ammann says.

Not so long ago, the Federal Council allocated funding of 216 million Swiss francs (about $217 million) that will be used for digitalization of education in 2019-2020. As the politician says, «it is only the start» and the authorities intend to strengthen the support for such trend in the future.

«Switzerland is a global leader in terms of this new technology and its economic application. We would do well to continue at pace», − Schneider-Ammann stressed.

The member of the Federal Council notes that the country needs to develop the regulation in the field of cryptoindustry and blockchain.

«Let’s do better this time! By putting in place attractive, liberal conditions that offer an ideal environment for start-ups, investors and established businesses. But just to be clear, a good economic framework does not mean giving carte blanche! Abuses must also be consistently prevented in the new digital world. And businesses need legal certainty», − Schneider-Ammann summarized.

It became known earlier that the Swiss city of Zug intends to conduct the test municipal vote using blockchain. The city's digital identity system (eID) launched in November last year will be used for it.

BN
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