On Monday, September 17, Reuters reported about a new blockchain agreement between Switzerland and Israel. The cooperation between the countries is to share their experiences of the blockchain industry and its regulations.
Ueli Maurer, Switzerland’s Minister of Finance together with Joerg Gasser – the State Secretary for International Financial Matters visited recently in Israel requesting for the rights for Swiss banks to access the country’s markets. The countries will be also sharing informative recommendations about financial technology, blockchain, and cryptocurrencies.
In the interview with Reuters, Gasser told about his upcoming plans of preparing a report of the blockchain regulation for Israeli authorities to help build up the framework in order to implement the new regulations during the next year. He aims to get the approval from the Government of Israel for the plan during 2019.
Switzerland is known from its welcoming regulations for the blockchain innovations and cryptocurrencies that attracts companies, startups and crypto-enthusiasts to build a base there. Zug, also known as the Crypto Valley, used to be a small town nearby the alps, before it turned into one of the most trafficked blockchain hubs in Europe. For example headquarters of Ethereum, Tezos, Bitfinex and ShapeShift are located in the crypto community of Zug.
Blockchain technology is also rising like the morning sun in Israel. The government of the country has widely promoted the open government policy and noticed a need for improved and more efficient technologies in the parliament in order to reduce corruption and the risks of fraud. Various projects and companies, such as Zen Protocol, Bancor and Geektime are uplifting the country on the map of world’s blockchain hubs.
Author: Sarah Tuuli