Blockchain in Switzerland is taking the step out of the «Crypto-Valley», the region surrounding Lake Zug. The Institut fuer Finanzdienstleistungen (IFZ), InCore Bank, the Inventx and ti&m IT companies, SIX and Swisscom are teaming up to adapt the technology for their own purpose.

The biggest banking partner is Zuercher Kantonalbank (ZKB).

Do What the Big Players Do

The partners intend to approach what the big players have already being doing at the Blockchain consortium R3 in New York. The joint platform of the world's biggest banks and IT companies has recently filed a back office based on Blockchain for patent.

The joint venture also works on a prototype software aimed at the transaction of off-market securities. The companies want to speed up the deliverance and payment of securities and ideally reach a real time scenario.

State Support

The group will buy the basics about Blockchain from Ethereum, a startup based in Zug. The venture also counts on government aid as the commission for technology and innovation of the federal government is subsidizing the project.