The Canton of Neuchâtel is known for its watchmaking industry. Now, it is looking to put itself on the map as a hub for blockchain technology.
French-speaking Neuchâtel has around 60 companies active in the blockchain space, all working on solutions for finance or industry, «Le Temps» (in French, behind paywall) writes, reporting from a recent business event held there.
Alexis Roussel told the news outlet that he has relied on Neuchâtel’s ecosystem consisting of banks, lawyers, accountants, auditors, and the city’s administration, since he founded his crypto trading platform Bity, in the city of Neuchâtel in 2013.
The Canton sees its role to bring blockchain technologies closer to its existing watch-making industry; watch authentication is an example of such a connection, the report said, citing State Councillor Alain Ribaux, responsible for the Economy, from the event.
Crypto Valley
Until now, German-speaking Zug, which is a half-hour train journey from Zurich's financial center has established itself as the county's crypto hub and is referred to as crypto valley.
However, Neuchâtel isn't the first city looking to knock Zug off its pedestal. Lugano is also making claims to crypto fame, with its own digital payment system which allows citizens to pay for certain public and commercial services with Bitcoin, Tether, and the city's own digital currency LVGA.
