Swiss government praises Cardano and Algorand

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Last Updated on 10 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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If you’re rich and European, the country that you normally want to retire in is Switzerland. Great countryside and ditto views, great riches all around you, ideal banking secrecy laws (if you are seeking to keep all that money from the state), happy people and a central location with easy access to Germany, Italy and France.

If you’re a cryptocoin, the recommendation that you really want in order to gain international posture is therefore that of the Swiss Government.

For this reason, Cardano founder Charles Hoskinson had every reason to be cheerful this week as the Swiss chose his coin and the Algorand blockchain as a recommended future means of payment for the financial development of the country.

Quite the feat indeed. With major names like UBS and Credit Suisse on those lakeshores of Geneva and Zurich around you, better company cannot be found.

Also read: Swiss insurance giant Atupri Health Insurance now accepts Bitcoin and Ether

Advertentie.

Future potential

The official Swiss report on the future digitalization of course mentions known names as Bitcoin and the Ethereum blockchain as already established names in the business that are to be taken seriously. Furthermore, they also praise newer projects with excellent performance and higher potential. At this point, they directly referred to Cardano.

Charles, who usually comments on US elections mostly and the spread of Covid, was quite content with the recommendation and shared it with his followers.

Although some of them were skeptical and claimed they didn’t know what the German text stated, one of the commenters made it quite clear:

I live in Switzerland and its an official government Paper. They basically want to improve/adapt the Swiss law so that Switzerland is more Blockchain friendly. They also want to promote the use of blockchain technology.

At the time of writing, Cardano was trading at $0.095815 and descending some 0,15% as the crypto market continues its September correction.