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Analysis

The Number Of Blockchain Companies In Switzerland Grows Despite The Bear Market

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A survey conducted by the Switzerland-based crypto investment company CV VC shows that the number of blockchain-related companies in Switzerland but also in Lichtenstein is on the rise despite the prolonged crypto winter, so we decided to learn more about it in our latest blockchain news today.

The number of blockchain-related companies continues to grow in the region despite the still on-going bear market and the CV VC investment firm says that by the end of 2018 more than 700 companies started using or were already using the distributed ledger technology.

Some of the new companies that were named ‘’unicorn’’ startups that were valued more than $1 billion include Bitmain, Ethereum, Dfinity Foundation, and Bitmain.

The report also shows that despite the increase in the number of companies, there is something else that matters and that is the recent decline in crypto prices influenced the market value of the 50 largest crypto companies in the region cutting down their value from $44 billion to $20 billion, a decrease by more than 50 percent.

The previously mentioned 50 companies have reportedly more than 450 employees in the region with the entire sector having more than 3,200 people employed mostly in Zug and Zurich.

The Swiss government supports the blockchain industry and so does the government of Lichtenstein. The Prime Minister of Lichtenstein Adrian Hasler was proud to announce the introduction to new legislation that will regulate blockchain businesses and their underlying systems. This way all of the businesses that are blockchain based could easily be integrated faster and in a legal manner with a higher certainty for the customers and businesses themselves.

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