Why Switzerland Remains a Favourable Location for Cryptocurrency and Blockchain Businesses
In recent years, cryptocurrencies and related crypto technology have become an extremely popular area of investment and entrepreneurial activity in Switzerland, with billions invested in the sector. According to a report carried out by CV VC, there are currently more than 600 crypto-investments and blockchain-related companies in Switzerland and Liechtenstein, with the top 50 ventures possessing a combined market capital of around $44 billion. Further, five of the start-ups featured in the report are valued at $1 billion each, demonstrating the value and importance of this internationally booming sector. Big data, and/or artificial intelligence are paving the way for the future financial transactions.
A number of factors have helped Switzerland to remain ahead of the curve, including an efficient and transparent government, as well as a crypto-friendly eco-system that enables businesses to resourcefully conduct crypto-related activity with ease. Another advantage is the lack of registration requirements for ICOs, blockchain-related companies and crypto businesses in the region, while Switzerland’s existing regulations and tax policies are extremely favourable for ICO and cryptocurrency businesses.
As a result of this, more than 3000 job vacancies have been filled in the past year including cryptocurrency software engineers, ICO analysts, crypto mining technicians and data analysis professionals, amongst many others. And if Switzerland can continue to offer such favourable conditions to businesses, opportunities for knowledgeable job seekers eager to get plugged into start-ups and corporations will remain rife. Time could not be better to develop your career within the crypto and blockchain sectors. For those with skills and experience with distributed consensus algorithms, data structures, cryptography and data security, and decentralized technologies, Ethereum Solidity, HyperLedger Fabric, R3/Corda, NEO, AION, Icon, Stellar, Cardano, Wanchain, IOTA, VeChain, NoSQL, MS Azure, Amazon AWS, IBM BlueMix the demind is high.
Nevertheless, it’s vital that those in the Swiss cryptocurrency industry are able to attract top talent, however with the prevalence of powerful players and high-paying banks in the country, this has presented some challenges as start-ups and young companies struggle with competitive salaries.
That being said, Switzerland continues to attract countless blockchain and cryptocurrency innovations, including the leading blockchain platform, Ethereum, which has an estimated market capital of $23 billion, and the Swiss government appears to be won over by blockchain.
And although countries such as Liechtenstein, Gibraltar, Malta are successfully competing in the crypto and bitcoin space, some experts regard them as latecomers when it comes to blockchain-related regulation. On the other hand, Asia remains a key location for cryptocurrency businesses and investors, while Singapore is particularly favourable largely due to its regulator openness and efficiency, as well as excellent job prospects.
Despite the constant global competition, for the time being, it looks as though Switzerland will maintain its positive global status as one of the most popular areas for crypto, blockchain and ICO-related businesses. As such, those interested in IT and media-related jobs in the cryptocurrency and blockchain arena should certainly consider Switzerland as a favourable location for employment.
If you are looking for specialist staff for your crypto business or are looking for a job and already have experience, contact us for more information.