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Over at Falcon, where Katie Richards is a co-head of digital assets, clients are more concerned about the safety of the crypto investments than about how to speculate. Hence, the bank needs to provide a way of storing assets safely first and foremost.

The conference participants voiced a lot of support for the Swiss regulator and the political actors. Louis Raymond Bisang, the development chief at Turicum Bank, said that smaller jurisdictions applied regulation more in the sense of a marketing tool, while Switzerland displayed a strong will to regulate properly. Turicum holds a blockchain license in Gibraltar.

The Swiss finance ministry recently launched its consultation process for a law change that will improve the legal status of blockchain businesses. Finance Minister Ueli Maurer took the opportunity to address the exponents of the industry on Wednesday.

Not Too Slow

The Swiss authorities hardly are known for their undue haste, but their approach to dealing with the new technology has received the laurels from the industry. The experts agreed that Switzerland had moved ahead of say the U.S. or the European Union – and the players hence are not likely to become impatient soon.

Be this as it may, standing still is no option: «The next five years will bring massive change and banks will have to deal with the issue,» said Imbach.