Blockchain to disrupt Swiss hold on global bank system

  • Blockchain has the potential to significantly reduce transaction costs and time, likely cutting into bank fees and commissions.
  • In that scenario, Switzerland is most at risk since its massive banking industry generates half of its revenue from fees and commissions.
  • Switzerland is also among the nations most sensitive to blockchain technology's potential to drastically increase the efficiency of cross-border payments.

However, with that being said, Switzerland has been one of the friendliest countries towards cryptocurrency / blockchain. They have also created, the nation's financial markets regulator also approved the first Swiss private bank for bitcoin asset management, a move many saw as potentially paving the way for other global banks to do the same. 

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so we're about to see new 'wealth management' / tax haven venues develop? like digital tax havens?

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1 minute ago, TraderTate said:

so we're about to see new 'wealth management' / tax haven venues develop? like digital tax havens?

Welcome to the new era of "wealth management". Just look at apps like Robinhood, Coinbase, or even wealthfront. Allowing people to literally just sign up and start trading. It's a good time to be alive. 

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