In this new episode of BSV Stories, CoinGeek’s Natalie Mason explores Zug, Switzerland—a small historic town just outside of Zurich and home to some of the world’s largest corporations. Moreover, it’s a global mecca for blockchain and digital currency startups, earning itself the name ‘Crypto Valley.’
Why Zug became Crypto Valley
The name Crypto Valley refers to a hub of businesses and emerging startups, in the canton of Zug, dealing with digital currency and blockchain technology. Switzerland has been a top option for these types of companies because of its supportive political system, quick to recognize the sector’s already booming investments and potential in transforming future business.
In this BSV Stories episode, Natalie sat down with Crypto Valley Association board member Delphine Forma, who talked about Zug and what makes it a perfect environment for blockchain business. According to Forma, the two main reasons are its low tax regime and business friendly environment.
“It’s a tax haven paradise” Forma said. “You have a government friendly environment where its decentralized democracy is very friendly to new technology.”
Despite the cluster of technology companies popping up in Zug, not all locals know about digital currency and how it works. Nonetheless, many establishments in the region are already accepting Bitcoin as payment for goods and services. And impressively, some taxes can now be paid in digital currency.
Zug the new home of the Bitcoin Association, TAAL and nChain
Being at the forefront of innovation and leaders in fintech and blockchain, it’s no surprise that TAAL (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) and nChain picked Zug as home for its new offices. It’s also the headquarters of the Bitcoin Association.
In an exclusive gathering attended by top entrepreneurs in Crypto Valley, Bitcoin SV’s major players delivered a distinct message to its counterparts. The message: it’s intent to advance Bitcoin while staying true to Satoshi Nakamoto’s vision. Through informative talks, participants were given a deeper understanding on how the technology works. Attendees were also presented with a fresh take on how to make it easier for business’ to build on the blockchain.
Even before the arrival of the Bitcoin Association, Taal and nChain, BSV’s presence was already felt in Switzerland, embraced by local entrepreneurs like Bernard Muller, founder of Centi. Speaking to Natalie, Bernhard who is currently in the process of developing a unique payment method system explains why BSV is their Bitcoin of choice. He says “we use Bitcoin in the form of BSV because of its stability, scalability and economics of scale.”
BSV, an unparalleled technology
There’s no doubt about the staying power of Bitcoin SV. Calvin Ayre, founder of Ayre Group and CoinGeek, has made that clear by saying “the technology that we favor in our ecosystem is so unique. It’s a one way street. People that come into our ecosystem and learn about it can’t leave because the technology has superpowers that aren’t replicated anywhere else in the world.”
What’s slowing down BSV’s global adoption? Ayre says its lack of education. He says, “the technical battle is over but the challenge is educating the world about the advantages of the technology.”
Sooner or later, Bitcoin SV technology will be used everywhere. At least, that is the prediction. But until that day comes its physical presence in Zug, Switzerland, is yet another step in the right direction.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.