Switzerland’s Crypto Valley Association launched with big firms as members

Crypto Valley Association (CVA), a Swiss-based not-for-profit alliance backing the development of blockchain and cryptographic-related technologies and businesses, announced in a press release CoinReport received its launch with several top corporations and startups as founding members.

Crypto Valley’s founding members include PwC, Lucerne University of Applied Sciences and Arts, Luxoft, ConsenSys, Canton of Zug, Thomson Reuters, UBS, Lykke Corp, the City of Zug, Inacta AG, Monetas AG, bacademy, Lakeside Business Center AG, Lakeside Partners AG, iprotus GmbH and Leon Partners.

Night view of Zug and its lake

Based in the Swiss canton of Zug, Crypto Valley Association is an autonomous, government-backed alliance founded to leverage Switzerland’s strengths to create the world’s foremost blockchain and cryptographic ecosystem.

Switzerland is recognized as one of the world’s principal countries for digital innovation. The country is home to hundreds of financial institutions, technology companies and multinational enterprises and boasts one of the world’s most decentralized, stable and neutral political systems, a sophisticated workforce and world-leading infrastructure.

Crypto Valley will be working with the Swiss government to further the development of ground-breaking digital technologies in Switzerland and worldwide, said the release we received.

The alliance will provide support to startups and recognized companies through organizing hackathons, conferences and other industry events, starting and empowering research projects and policy recommendations.

Crypto Valley Association president Oliver Bussmann

Crypto Valley Association president Oliver Bussmann said on the occasion, “Blockchain and cryptographic related technologies and businesses are the wave of the future. With the founding of Crypto Valley Association, we are promoting more than a region: we have founded a global association as a base for the sector’s most innovative and forward thinking companies, further strengthening Switzerland’s position as a leading centre of innovation in this sector.”

Bussmann is also the founder and managing partner of Bussmann Advisory and ex-CIO of UBS and SAP.

Others Crypto Valley is being led by include association vice president Vasily Suvorov, who is also vice president of technology strategy at Luxoft and association treasurer Professor René Huesler, who is also director of the Lucerne School of Information Technology at Lucerne University of Applied Sciences and Arts.

The association is drawing young startups, venture capital, established IT firms, private equity, universities and media. Network effects include building a productive ecosystem of resources and knowledge for businesspersons and recognized players and attracting a highly skilled workforce.

Manoj Kashyap, global fintech leader for PwC, commented, “Emerging technology such as Blockchain and Crypto-technologies are at the heart of the digital transformation of Financial Services. PwC have explicitly made digital one of our key priorities and support a number of initiatives around the world to foster innovation. By supporting and being part of the Crypto Valley in Switzerland, we engage with a rapidly growing ecosystem and contribute our expertise and perspectives on how to leverage technology for positive change in society.”

ConsenSys founder Joseph Lubin stated, “As the largest blockchain startup, ConsenSys is proud to support and be part of the Crypto Valley Association in Switzerland. Through this initiative, we look forward to opportunities to collaborate with likeminded organizations that understand the power of blockchain to reshape our world for the better, and are committed to accelerating the adoption of decentralized technologies in use cases that range from government, to enterprise, to humanitarian impact.”

“Blockchain technology could transform the financial industry and help to create new and improved financial services for clients. Collaboration on innovation is core to our strategy and especially needed for blockchain. UBS strongly supports activities to build out the FinTech ecosystem in Switzerland, and is pleased to join the Crypto Valley Association to drive further collaboration on blockchain technology in the region,” said Veronica Lange, head of innovation at UBS.

“We see Blockchain and Distributed Ledger Technologies at the core of Digital Transformation. Many of our clients across key verticals are embarking on pilot projects and are considering decentralized, breakthrough business models. The Crypto Valley Association is a valuable ecosystem for the exchange of ideas, and as a technology partner, Luxoft will benefit from constant involvement in diverse technical, business, legal, and academic communities. We are committed to further strengthening and expanding the Crypto Valley Association’s core mission through our technical and thought leadership contributions,” Vasily Suvorov, vice president of technology strategy at Luxoft, stated.

David Craig, president financial and risk business, Thomson Reuters, commented, “Thomson Reuters Labs around the world collaborate with customers to solve big problems and rapidly prototype and validate solutions across technologies.  We have been particularly impressed with the calibre of individuals in the Zug ecosystem, with participants bringing novel ideas and engaging in more detailed discussions than in other forums. The formation of Crypto Valley Association has already engaged local government, startups, venture capital and larger corporations. This gives us access to a pipeline of interesting startups, talent and an opportunity to participate directly in initiatives driving the technology.”

Image credits:

Night view of Zug – Mensi  (CC BY-SA 3.0)

Crypto Valley Association logo and photo of Oliver Bussmann – via association’s website