Blockchain sector in Switzerland is booming with the “Crypto Nation” and neighboring Liechtenstein reportedly serving as a home to more than 600 blockchain companies employing over 300 employees. The recently released data said that altogether top 50 blockchain-based companies in the Crypto Valley of Switzerland employ more than 400 staff domestically, spend more than $2 billion annually on research and development and have a worth of $44 million.
Interestingly, most of the funding for these companies has been coming through the initial coin offering (ICO) investing programs. In such programs, people can purchase digital tokens to gain access to blockchain platforms. It is now easier to get details about this company by going through CV Mapsexternal link, an online directory published by CV VC in collaboration with inacta and PwC.
It lists foundations, companies, lawyers, educational establishments, consultants, and every field and profession that supports the work of Swiss blockchain industry. Apart from those operating in the Crypto Valley, Liechtenstein is also included in the directory as it is closely associated to the Swiss blockchain firms and right now is being considered as an extension to the Crypto Nation of Switzerland.
The directory listed only 350 blockchain companies in April 2017 but now the number has almost doubled which shows the speed and scale of growth of this industry in almost 18 months, SWIreported. The Swiss politicians and regulators have taken note of this long-term potential impact of blockchain sector on the economy of the country and are trying to come up with a regulatory and legal framework that will allow this new technology to flourish.
Among the top 50 firms that are listed in the online directory, five are unicorns either originating Crypto Valley or based there, Bitcoin.comreported. Some such firms include Bitmain, the biggest Bitcoin (BTC) miner in the world, and other major virtual currency businesses such as Ethereum (ETH), Dfinity, Cardano, and Xapo.
According to CVVC.com Crypto Valley of Switzerland comprise of big blockchain companies that work in various sectors from data analytics to e-government and from health to technology. The companies featuring in the top 50 list prominently fulfill major traits: broker, trade, and exchange or platform and protocol.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]