The first anniversary of Zurich's blockchain hub drew an astonishing number of prominent bankers, policymakers, and opinion leaders. Why has Switzerland's political and financial elite warmed to the theme?
«If Trust Square's first birthday draws such prominent guests, what's the fifth one going to look like?,» was how Pascal Kaufmann, co-founder of the artificial intelligence-focused Mindfire Foundation put it. Kaufmann was referring to the banking and political elite which showed up to celebrate the Zurich-based blockchain hub's first year of business.
Swiss finance minister Ueli Maurer, central bank head Thomas Jordan, and Swiss Re Chairman Walter Kielholz all spoke at the event, as did Carmen Walker Spaeh, the economics director of the canton of Zurich, and Heinz Taennler, finance director of neighboring Zug.
Big Guns for Blockchain
The political and finance stars were invited by Daniel Gasteiger (pictured below), who used to run UBS Chairman Axel Weber's office. Gasteiger co-founded Trust Square, located in the heart of Zurich's prestigious banking district, year spring. The hub is already planning its next expansion step, as finews.com reported.
What led the the high-profile guests to celebrate the somewhat obscure and untested technology? Finance minister Maurer, who holds the largely ceremonious role of Swiss president this year, said he hoped Switzerland «wouldn't miss the boat» on emerging financial technology. For his part, Swiss National Bank head Jordan (pictured below) emphasized the central bank's «neutral» policy on blockchain.
At the same time, Jordan said, the SNB is responsible for closely monitoring tech advances and to support those which may eventually become economically valuable. The central bank recently opened the interbanking market to fintech firms, provided they clinch a regulatory license (none have been granted one so far). The Trust Square projected a bitcoin logo onto the coin-shy central bank's facade as part of its launch festivities last year.
Shutting Out Middleman
