Think Tank Avenir Suisse Urges Switzerland To Create A National Cryptocurrency

Avenir Suisse, a think tank focused on Switzerland’s future in political, economical and social areas, has urged the country’s central bank, the Swiss National Bank (SNB), to issue a national cryptocurrency.

In a report, titled “Blockchain After the Hype,” the think tank said that digitization and distributed ledger technology (DLT) are creating numerous opportunities for the Swiss financial industry, especially in capital markets, trade finance, and asset management.

“Useful groundwork has already been done in all these areas in Switzerland,” Avenir Suisse said. “But the time for pioneers is over: Switzerland now has to take the next step in the development of DLT, morphing from the much-vaunted “Crypto Valley” into a fully-fledged DLT nation.”

In order for the country to become a blockchain nation, the think tank recommended an economic blockchain framework, and suggested the creation of a Swiss franc token.

“It would facilitate tokenized securities trading if the National Bank and major players in the industry were to drive the development of a Swiss franc token,” the think tank said.

Avenir also said that Switzerland’s employment market should be kept open to foreign workers.

“The Swiss financial industry is traditionally very international,” Avenir said. “There’s also mounting global competition in the DLT arena. The employment market has to be kept open and attractive to people from abroad. This particularly applies for people from other countries graduating from Swiss universities, for which the quota is much too small at
present.”

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