Crypto technology, sometimes called distributed ledger technology or blockchain, could potentially boost efficiencies in existing businesses and create new business opportunities by cutting out intermediaries and decentralizing services. Many evangelists like its game-changing potential to that of the Internet. Despite its decentralizing drive, technology development has tended to cluster around certain places: Silicon Valley, New York, Malta, Gibraltar, Singapore, and Switzerland are key hubs. Switzerland is home to “Crypto Valley”, a group of companies and foundations in the small town of Zug, on the outskirts of Zurich. As the world’s leading financial center and home to hundreds of multinational corporations, Switzerland has an unrivaled business environment: excellent national and global business networks, flexible labor laws, little red tape, a sophisticated and respected legal system, little corruption, availability of investment capital, low corporate and personal taxes, and high levels of service.
It is Located in Zug, in the heart of Switzerland, Crypto Valley is uniquely positioned to take full advantage of Switzerland’s decentralized political system and unrivaled business environment. Zug offers a strong platform for global growth due to its business philosophy and the openness and easy accessibility of its local government. Zug’s business-friendly, low-tax environment and fantastic quality of life have attracted many of the world’s leading companies, creating an international, cosmopolitan culture and easy access to powerful global networks.
“A big step for Zug to become Crypto Valley was the formation of the Ethereum Foundation in Zug,” he reasons, referring to the group headed by Vitalik Buterin, who later received an honorary doctorate from the nearby University of Basel. The idea to organize the project as a foundation to serve as the world headquarters for Ethereum came from lawyer Luka Müller, a friend.