Monthly Archives

June 2018

CVA and PwC Strategy& Collaborate to Produce 2nd Global ICO Report

By | CVA in the News

Zug, Switzerland, June 28, 2018– The Crypto Valley Association has teamed up again with Strategy&, the strategy and consulting division of CVA member PwC, to launch the June 2018 edition of their quarterly reports on the global Initial Coin Offering (ICO) market. The report, the second in its series, provides a comprehensive overview of ICO activity globally, while exploring key changes in the space since 2017. It also presents insight into regulatory developments in key blockchain hubs such as Switzerland, the United States, and Singapore and examines emerging trends in smaller jurisdictions globally. 

According to Daniel Diemers, Fintech Leader Switzerland, Head of Blockchain EMEA at PwC Strategy& the report “…highlights the continued growth and popularity of ICOs globally in 2018, with over 537 ICOs conducted in the first five months of this year, raising a combined total of $13.7 billion USD – more than all ICOs which took place before 2018 combined. Going forward this quarterly report on global ICO activity will continue to track the changes and developments in the industry as it undergoes continuous expansion and substantive change.”

The reports conclusions shed a positive light on the local ecosystem in Switzerland. “This report shows that Switzerland is still a leading hub for ICO and blockchain activity,” said Oliver Bussmann, President of the Crypto Valley Association. “To my mind, Switzerland is the standard bearer in terms of establishing a regulatory environment for the digital economy. The Crypto Valley in Switzerland, offers a unique environment that embraces blockchain technologies and the potential of ICOs while always embodying Swiss values, such as privacy protection and confidentiality. I’m delighted to see that Switzerland continues to be very attractive to visionary entrepreneurs within the crypto space.”

While Switzerland, the United States, and Singapore continue to be leading centres for ICO activity, the United Kingdom and Hong Kong have emerged in 2018 as increasingly significant actors within the nascent global market. Smaller jurisdictions including Liechtenstein, Gibraltar and Malta are also following in the footsteps of Switzerland to position themselves as ICO-friendly hubs. In addition, the report highlights regulatory developments surrounding ICOs globally, noting three distinctive approaches which can be used to characterise the majority of emerging frameworks:  ‘securities-driven’, ‘balanced’, and ‘binary’, most clearly observed in North America, Europe, and Asia, respectively.

“After all the hype of 2017, this year has seen the ICO sector becoming more mature and established, with an improved focus on best business and legal practice, investor relations and fundraising. Hybrid models of combined Venture Capital and ICO financing are increasingly bringing together the best of what both have to offer, so that the soundness of a business is validated while it realises its market potential by receiving crowd support,” concluded Diemers.

The full PwC Strategy& and Crypto Valley Association report can be viewed here.

BDO Switzerland Joins the CVA as its 4th Strategic Partner

By | Public Announcements

The Crypto Valley Association is pleased to announce a new strategic partnership with BDO Switzerland, one of the country’s leading providers of auditing, accounting, tax and advisory services.

Oliver Bussmann, President of the Crypto Valley Association, said “We are delighted to welcome BDO as a Strategic Partner. The development of blockchain technology is adding new dimensions to auditing, accounting, tax and advisory, and developments in these areas will be of crucial importance to the increasing role of the technology in society going forward. As one of Switzerland’s leading professional services firms, BDO has the perspective and expertise to provide best-in-class insight and support to our members.”

The CVA, through its partnership with BDO Switzerland, will benefit in its work as an independent, nonprofit association as it continues to build one of the world’s leading blockchain and cryptographic ecosystems.

The partnership will provide BDO with access to the CVA’s network and will help them understand and solve the problems that the innovators within the blockchain sector are facing today. BDO has a track record of working with both start-ups and established organisations, accompanying them through all phases of development.

“In the long term, blockchain will strongly influence and change the processes used by BDO and our customers. By partnering with CVA, we can ensure that we are at the forefront of this technology. Together we want to promote innovation and support entrepreneurs in questions concerning their business cases. Blockchain is connecting the world in a way we’ve never seen before and, as such, we are delighted to be part of a community shaping this new decentralized world. BDO is committed and pragmatic, which is why, as a CVA partner, we will actively tackle the challenges ahead,” said Werner Schiesser, CEO of BDO Switzerland.

“This announcement marks a significant milestone for our organization. Over the past year the CVA has enjoyed explosive growth, far surpassing our expectations. Bringing Strategic Partners on-board helps us build solid foundations and grow the eco-system. Having BDO on board is a badge of honour for the CVA and will provide our members with increased services and support as we embark on this exciting journey together,” concluded Bussmann.

Weekly Twitter Summary (2018-06-17 – 2018-06-23)

By | Public Announcements

Weekly Twitter Summary (2018-06-10 – 2018-06-16)

By | Public Announcements

#239 Grigore Rosu: The K Framework – A Framework to Formally Define All Programming Languages

By | Syndicated Content

We are joined by Grigore Rosu, Prof. of computer science at UIUC [University of Illinois at Urbana-Champaign] for a deep dive into the K framework. The K framework is mathematic logic and language that enables language developers to formally define all programming languages; such as C, Solidity and JavaScript. This technology has massive implications for smart contract programming language development, and formal verification efforts in the blockchain space.

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