When a government makes an effort to stay current on tech, they become capable of regulating things the right way - making sure they do not interfere with innovation, and targeting only bad actors, with precision.
Switzerland is proving that making this extra effort comes with rewards, as they continue to attract highly desirable companies to their country.
There's been no ICO scams, or pump and dumps, among the 800+ cryptocurrency/blockchain based companies that call Crypto Valley home. In fact, this community of legitimate companies would likely participate in exposing and removing anyone that risks tarnishing the area's reputation.
It's the exact opposite of what we're seeing happen here in Silicon Valley (our headquarters).
The US is using laws written before the invention of the internet to regulate the new, emerging tech sector of cryptocurrency and blockchain.
Add politicians that are way too comfortable stepping in front of a microphone, having done minimal research, and spewing inaccurate, overblown fears based in ignorance. It's enough to scare even the most legitimate companies away, worried they'll get shut down simply out of lawmaker's confusion.
The end result - billions in revenue, and thousands of jobs lost by the USA - while Switzerland shows no signs of slowing down.
For a recent example, look to Silicon Valley giant Facebook - they won't be expanding their campus here, because Crypto Valley has been named the location for their "Libra Foundation" Headquarters.
For a recent example, look to Silicon Valley giant Facebook - they won't be expanding their campus here, because Crypto Valley has been named the location for their "Libra Foundation" Headquarters.
Commentary from GCP Editor In Chief: Ross Davis
Video courtesy of: CNN Switzerland.
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