Recently, we wrote about Zug, a city in Switzerland that is gaining fame for Crypto Valley. Crypto Valley, which took its name from California’s famed Silicon Valley, is a conceptual and economic hub for cryptocurrency startups. If you’re serious about building your own Bitcoin-based or cryptocurrency company, we recommend visiting Zug to see what it has in store.
Here are some fast facts about Crypto Valley you need to know before you head there.
Crypto Valley is an Association.
Crypto Valley is an independent association supported by the government. Its aim is to “build the world’s leading blockchain and cryptographic technologies ecosystem”. They provide support and networking opportunities to new and established private companies through research, policy work, conferences, hackathons and other events. They also work with similar organizations globally to foster a healthy environment within the digital currency industry. Currently, the Association has almost 70 member coins, including Bitcoin and Ethereum.
It’s a great way to find networks and build collaborations.
As of August 2020, the association has over 133 members from various countries and industries. You’ll be sure to find several members open to exploring your business concept through collaborative work or funding. There’s also a bunch of law firms based in Zug that can help you out with all your corporate legal requirements.
It sits alongside other leading digital currency companies in Zug.
Many leading digital currency companies like Ethereum and Cardano have headquarters in Zug. With neighbors like that, you’d be raring to collaborate!
Zug / Switzerland
Switzerland particularly Zug, has a very favorable business climate.
Switzerland is an economically-stable nation with a healthy democratic political system that is politically neutral towards other countries. In addition, it has a government that is very open and supportive to the digital currency industry. The government created Blockchain Task Force, a regulatory framework for private digital currency company operations. There’s also support at the local level. Like most digitally-advanced countries, Switzerland uses Bitcoin and Ethereum for blockchain-powered social services. Lastly, Switzerland levies very low taxes on businesses, especially those based in Zug. This makes it the perfect place to establish your Bitcoin-based or digital currency business. Oh, and you can buy chocolate from almost everywhere. Isn’t that sweet?
It’s one of the largest ICO markets in the world.
Switzerland was the second largest market of Initial Coin Offerings in 2017. While the country is facing serious competition from other European countries like Estonia, and Malta, it’s still one of the best ICO Markets in the world.
It’s a beautiful place.
Face it. Traditional skyscrapers, traffic, and pollution aren’t very inspiring sights for someone who wants to build a new and innovative digital currency business. Zug not only provides a healthy business landscape, but a new and refreshing natural environment to flourish in. On the north side of town is the Central Business District. The south side of town exudes old European charm. At the end of the day, a great place to refresh your mind for another day full of innovative ideas.