About the Report

The report discusses the challenges and potential solutions for the blockchain industry in Geneva, Switzerland. There are 115 blockchain companies in the canton, but they face strong national and international competition. The report highlights the difficulties these companies face in opening bank accounts and the need for a center of excellence for blockchain education and research. The report also suggests the creation of a blockchain competitiveness cluster to promote the region and support the growth of blockchain companies. The recommendations are based on roundtable discussions with over 40 industry representatives organized by The Good Token Society.

Blockchain companies in Geneva face significant challenges in opening bank accounts, even for their non-blockchain related activities. This hampers the creation and growth of blockchain start-ups in the region. The report suggests bringing together financial, banking, and legal experts to address the issues and develop a practical guide with optimal framework conditions to support the development of blockchain companies.

Geneva lacks a center of excellence for blockchain education and research that offers comprehensive training for a range of high-value jobs in the industry. The report recommends the creation of a local and cross-sectoral center of expertise that would incubate blockchain projects, develop blockchain standards, and foster collaboration between academia and business. This would attract talented professionals and companies, creating a thriving blockchain ecosystem.