Chairman of Swiss Stock Exchange Recommends Launching A Cryptocurrency

swiss-crypto-efranc

The chairman of the Swiss stock exchange, Romeo Lacher, recently issued a statement which made it clear that he favors launching of a national cryptocurrency. According to him, it will be a good idea to launch the e-franc in the form of the national cryptocurrency.

In favor of national cryptocurrency

He further added that the national cryptocurrency will offer many benefits as compared to the traditional banking systems. Also, he is of the opinion that since it would be under the control of the central bank, the misuse of such a national cryptocurrency would be more difficult. According to him, there can be a lot of synergies with the help of this cryptocurrency. It could potentially replace cash altogether.

Central bank denies

On the other hand, the chairman of the Central Bank of Switzerland has denied that there is any need for the national cryptocurrency. According to the Central bank, the cashless systems which are prevalent presently are more than enough for the citizens.

According to the owners of the stock exchange, there is no plan to launch a national cryptocurrency. Neither, there is any plan to launch any kind of ICO. They were, however, quick to add that blockchain definitely possesses quite a few advantages for the stock exchange.

Leading the blockchain field

According to the chairman of the stock exchange, Switzerland is currently leading the innovation when it comes to the blockchain. This is the reason why further association will disrupt the entire blockchain space, with Switzerland as one of the leaders in the field. With that in mind, the chairman is advocating further research in the cryptocurrency space in order to gain more dominance in the field.

The economics minister of the country, Johann Schneider-Ammann, stated that the effort of the country is to become a leader in the cryptocurrency field. He acknowledged that cryptocurrencies are actually the 4th revolution after the industrial world. In the same statement, he added that, it has still not determined whether cryptocurrencies need extra vigilance in term of regulations or not.

This indicates that the authorities in Switzerland are currently not in favor of issuing new regulations. If indeed, the cryptocurrency field and blockchain flourishes, this will enable the country to grow faster than others in this field. If indeed, innovation is permitted in these fields without any obstructions, the country could become a leader in the field of blockchain technology.

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