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“Blockchain will Penetrate our Entire Economy”, says Swiss Federal Councilor

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It is certain that Blockchain technology is set to penetrate Switzerland’s economy more efficiently, considering that the prosperous Alpine country has earned a name as a crypto nation.

One of the seven members of Switzerland’s collective head of state noted that Blockchain technology would one day infiltrate the entire economy as par a transcript published by the Federal Department of Economic Affairs, Education, and Research on June 21.

Johann N. Schneider –Amman, Swiss Federal Councilor noted during a speech at the Crypto Valley Conference in Bern on June 21,  that:

Barely anyone currently doubts that Blockchain will infiltrate our entire economy,”

In his speech Schneider –Ammann pointed out that at this point, the nations lack adequate information about the potential, risks, and dangers of this nascent technology. Further stressing  that the “decisive factor” will be an impetus for crypto technology education:

“We need to put even greater emphasis on digitalization and technology in schools. We need more IT specialists (not to mention Blockchain experts). And we need more research projects and professorships in this field.”

Schneider –Ammann also talked about the need for regulation of blockchain tech, digital currencies, and Initial coin offerings (ICOs) circles.   He also mentioned a “Blockchain Task Force “which has been incorporated with private actors under the leadership of himself and Ueli Maurer, the Finance Minister.

“ To be precise, an efficient economic framework which does not offer carte blanche! In this digital era, abuses should constantly be-be prohibited. On that note, businesses require legal certainty to prevent investments from being withheld. ”

 

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