Covering technology in the Swiss market is no easy feat. Not only is the world of blockchain adapting and evolving in what seems a continuous cycle, but working in places like Zurich for example involves a lot of moving parts. This can often act as a deterrent to professionals considering making the move. But my aim over the next few months is to include invaluable information discussing everything from the current market and technology trends, to relocation guides and essential insights.
What exactly is Blockchain and what are we currently seeing?
As a catch up for those not familiar with the premise of what blockchain is;
‘Blockchain is the technology that underpins digital currency (for example; Bitcoin, Ethereum, Litecoin etc.) This technology allows digital information to be shared, but not copied, giving each individual piece of data one owner. (You may also hear it described as a ‘digital ledger’.)
How can Switzerland evolve into a progressive innovator?
Driven by blockchain technology, there is without doubt a hype surrounding this subject and it is now more of a question of when and in what areas in the next two to five years blockchain will establish itself.
Albeit to varying extents, blockchain reaches all sectors of the swiss economy. Currently in Switzerland the financial services, logistics, insurance, healthcare and public administration are deemed as pioneers in Blockchain technology.
These key sectors of the swiss economy, if handled effectively, can present Switzerland with the opportunity to evolve and become a progressive innovator. As with any new or growing technology, its success depends on a number of factors; some considered simple such as the timing of the launch can be a critical stage. However, let’s not forget the external factors such as other competing developers in both the private sectors (companies experimenting with blockchain) and public sectors (countries hosting Fintech firms).
Where does Switzerland stand in this?
No matter what, blockchain technology will continue to develop with increasing maturity and with a growing number of professionals contributing ideas to its progression and producing more versions of prototypes and initiatives. Switzerland is in the spotlight to review its position and prove its legitimacy to being at the forefront for developing blockchain technology.
Something to consider as we discuss this topic more; Does Blockchain influence or change the execution of internal and external core processes and procedures?