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Swiss Organisation Urges the Country to Launch its own National Cryptocurrency

Avenir Suisse is a think tank that is focused on Switzerland’s future in political, financial and social fronts. Avenir Suisse has been operating since 1999 and has provided many ideas for the country’s welfare and is backed by an impressive amount of 130 donors, which are both people and companies. In a recent publication, they urged the Swiss National Bank (SNB) to launch its own national cryptocurrency.

The report in the publication named “Blockchain After the Hype” an economic model based on blockchain technology. According to the report, the country’s next step forward in reassuring stable financial gains and overall stability in the economy is to create a digital “Franc Token”. The Swiss Franc has identical value against the US Dollar and only differs in decimals so it will be easier to have a baseline for a digital currency and its success rates.

Also, the publication suggests that this will be a goal to upgrade the financial sector of the country. Developing a cryptocurrency would change Switzerland’s status and make it a “Blockchain Nation”. This cryptocurrency will boost every other sector with the finance sector as well and would be a major positive for the Swiss Government if done right. The publication makes it clear that there should be laws and regulations on the technologies so it wouldn’t be exploited. They have also stressed for the necessity of a framework for the blockchain digital ledgers and cryptocurrency.

Switzerland has had a neutral stance on Crypto. Switzerland is also known for its open blockchain experimentation policy. It will be interesting to see whether Switzerland adopts a Crypto or not.

About Parth Vig

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