Crypto Valley Association based in Switzerland is the breeding hub for the Swiss fintech and crypto industry. Lately, however, the Valley has been under some turmoil. The new president, Daniel Haudenschild was just elected in the position last Thursday. The election was followed by some resistances, with notable members resigning from the position. However, Haudenschild has plans which he thinks will improve the position Swiss blockchain and crypto projects in the global market.
In an interview, he claimed that in order to better the Swiss blockchain and crypto space, divisions must be healed as to prevent Switzerland from losing further ground to other countries. According to the new president, CVA has been suffering as it has not been grasping and keeping the attention of venture capitalists who tend to look at other countries; venture capitalists have been making investments in blockchain projects in countries like Malta and Jersey. He said:
“We’ve stopped bringing venture capital and entrepreneurs and skills and talent into the Valley. We need to keep Switzerland right at the vanguard of being the best place to do business. If we don’t do that, capital and talent have legs, and we already see it seeping out. I couldn’t get five venture capitalists around a table in Crypto Valley right now. They have moved on to London, Amsterdam and Berlin. We have to get them back here. . ”
In further what seemed to explain the poor conditions of blockchain and crypto in Switzerland, he said that Swiss policies are not favorable for many investors; in bringing back investors, that would have to change. He explained:
‘We need to get bricks-and-mortar companies coming off the bench to invest in this space. We need a change in our laws and that requires more interaction with lawmakers and regulators. We need to make Switzerland open and easy for companies to invest in blockchain projects. ”
Regarding the crypto startups in Switzerland, the new president again emphasized on the importance of bringing investment opportunities in the Valley as due to the fall in the value of the crypto market, a lot of capital has been lost. “Great ideas are being shelved because they can’t find that funding. We need to bridge that by bringing back investors. ” he stated, while continuing to say that with capital in the Valley, in-infighting would also stop.
According to Haudenschild, CVA is in a mess where people can easily buy votes and get to notable positions; this does not play well for the Valley, he said, also mentioning: “Votes were being bought but the voice of the people said more. ”
As the CVA chose a new president last week, many revolted with two board members even resigning from their positions saying that the board consists of too many lawyers and consultants rather than individuals with entrepreneurial experience in blockchain itself. When asked about the situation of the board, Haudenschild said:
“Right now, we’re trying to create a more solid foundation that’s harder to abuse. The board is suitably diversified to do that. We don’t need deep thinking right now, it’s more housekeeping stuff.”
As for the vacant positions at the board, the board has “two wild-card options. “