Is Crypto Summer Back in Switzerland?

Recent data suggests that the Swiss blockchain industry is making impressive gains.

According to the report, published in collaboration with the Big Four accounting firm PwC and its partner Inacta, the top 50 blockchain companies have doubled their valuations in the first half of 2019 to $41 billion.

The so-called "Crypto winter" was a necessary and beneficial sanity check for the blockchain industry.

Etherisc is aiming to use blockchain technology to build decentralized, cost-effective insurance products.

In each case, blockchain is being used as a tool to solve specific problems.

These banks will also enable blockchain startups to open a corporate bank account more easily, a process that had previously been slow and bureaucratic.

More broadly, the Swiss government has been quite forward-thinking in creating a blockchain strategy to give the sector a stable legal foundation, without stifling innovation.

Added to the country's traditional advantages - such as its excellent infrastructure, competitive tax regime, and legal and financial expertise - it makes for a compelling combination for many blockchain startups.

Overall, the latest CV VC figures show a Swiss blockchain industry that has gotten back on its feet.

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