Swiss Stock Exchange Chair advises Digital Swiss Franc

Swiss Stock Exchange Chair advises digital Swiss Franc launch, highlighting that he sees upsides in this idea. However, not all of the Swiss banks have the same outlook in regards to the cryptocurrency. 

26 February, AtoZForex Over recent months, many countries have moved to the establishment of their very own cryptocurrencies.  Following the trend, Switzerland has also been considering the idea of launching a state-issued cryptocurrency.

Swiss Stock Exchange Chair advises Digital Swiss Franc

According to the online media reports, the chairman of the Swiss Stock Exchange, Romeo Lacher, has suggested the country to issue a cryptocurrency version of Swiss fiat currency, the Swiss franc. The authorities aim to maintain Switzerland’s status as the cryptocurrency capital of the world.

Mr. Larcher has been quoted as saying:

“I believe there would be a lot of upsides, we would be strongly supportive … An e-franc under the control of the central bank would create a lot of synergies — so it would be good for the economy. I don’t like cash.”

Not all of the Swiss banks have the same outlook in regards to the cryptocurrency. Yet, despite the differences in the opinions in regards to the launch of e-franc, Switzerland still maintains the status of one of the most developed Blockchain countries in the world.

Switzerland as Blockchain Capital of the World

However, while being quite open in regards to the new technologies, Switzerland also apparently faces a lot of risks associated with the ICOs and Blockchain. Mr. Larcher has shared:

“I think the strategic direction is good, but it’s like going into fog. You don’t know what you will see on the other side. Many mistakes will be made, but we will also learn a lot and I am sure, we will be successful. My worry is that until recently, the value of cryptocurrencies has only been in one direction — up. After the first ICO to collapse, there will be burnt fingers.”

In spite of the difficulties, Switzerland is still leading the pack. Back in October 2017, Switzerland financial regulator has granted the first full regulatory compliance license to the Bitcoin company. The breakthrough in Swiss cryptocurrency market has been achieved by the payment gateway Payment21’s owner – Moving Media.

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