Swiss Think Thank Suggests Creating National Cryptocurrency in Switzerland

Swiss think tank, Avenir Suisse, has released a report titled “Blockchain after the Hype”, asking the Swiss National Bank (SNB) to start working on its own national digital currency.

The report lists three areas that have great potential for the Swiss financial industry: giving Switzerland the opportunity to take advantage of the tokenized securities market, improved efficiency through disintermediation and the possibility of new business models and client segments forming.

It goes on to describe key areas where action must take place, namely regulation, the modernization of the interface between the public and private sectors, and international relations.

Avenir Suisse suggests a new economic model for the nation, starting with the creation of a “Franc token” controlled by the SNB. This, the report states, would facilitate the trading of tokenized securities and cryptoassets, and help position Switzerland as a “blockchain nation.”

It also notes that regulation will be a particularly important aspect for the nation, saying,

A major challenge will be to strike a balance between legal certainty and lean regulation. Essentially, the law should be changed only in areas where it’s not yet DLT-compatible. But these changes have to be made as soon as possible.