Innovation

The Swiss parliament has passed new amendments to the country’s blockchain and cryptocurrency regulations. The new framework is aimed at boosting the Swiss community and confirming the country’s status of Crypto Nation.

The USA seems to be keeping pace with global digitization. Shortly after the country announced its plans on issuing the digital dollar, a new bill was presented to legalize blockchain-based digital signatures.

While the US Securities and Exchange Commission is known for its cautious stance on cryptocurrencies, it seems things have been changing. The watchdog’s Chairman claimed that they are open to Decentralized innovations.

Despite people tend to trust traditional finance and banking more than their innovative alternatives, global giants prove they are not as reliable as it seems. As giant banks get themselves exposed to nefarious activity, people start exploring innovations like cryptocurrency, thus building trust in this kind of assets.

The governor of the Bank of England admitted that payment innovations like cryptocurrency, stablecoins, central bank digital currencies (CBDC), etc., have been gaining momentum due to the lockdown.

The financial technology (fintech) industry has seen a significant boost in terms of innovations. The most important technology is considered to be blockchain. However, some community players doubt that this tech is actually the saturation point of fintech.

As innovative technologies like blockchain and cryptocurrency gain popularity, they draw the attention of global celebrities from various fields. Now, a rapper Jay Z and a movie star Will Smith invested in a startup aimed at helping Ethereum developers.

The realm of traditional finance is in the vicinity of a transformation. As people seek for more convenient innovative alternatives, global payment giants are forced to explore these technologies to meet their users’ needs.

Dubbed Crypto Nation for its friendly stance for innovations including blockchain and cryptocurrency, Switzerland confirmed the name once more. A new legal package passed by the Swiss Federal Council is going to remove all existing legal barriers for startups.