Zurich Falls Behind in Bitcoin Adoption and Fintech Development
Zurich doesn't have any intention of promoting the use of Bitcoin and other digital currencies in the world, says the City Council. All places aren’t made equal, the same holds good for governments too, especially when it comes to Bitcoin and other digital currencies. The differences become evident while comparing two Swiss cities, Zurich and Zug in terms of digital currency adoption. Zug is a model city for Bitcoin adoption, especially after the City Hall decided on allowing people to pay fees and bills in Bitcoin. But the same can’t be said about Zurich. The authorities in Zurich are....
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It's the financial capital of Switzerland, filled with huge banks and powerful companies. It is also considered the world's largest gold trading centre, and is home to over 1,300 multi-millionaires. And now, after a guest appearance by a bicoin ATM, Zurich has been introduced to cryptocurrencies. The ATM in question is a Lamassu unit that was widely considered to be Europe's first bitcoin ATM when it was installed at a market hall in the Slovakian Capital, Bratislava. After reading about the unit, two Zurich-based bitcoin enthusiasts, Dorian Credé and Christian Mäder, took the 10-hour trip....
The Swiss capital has taken the stance of refusing to allow bitcoin payments, going against the creativities throughout the country. According to local news outlet, Finanz Und Wirtschaft, there are no plans to implement the digital currency into the city at present. The city council of Zurich believe that bitcoin won’t prevail and have refused bitcoin payments of fees or taxes. This news, of course, goes against a similar idea that was unveiled in the Swiss city of Zug, which has proved popular within the city. In early May, Zug undertook a city council meeting and by the end of it the....
Source: Twitter user @russian_market. This past weekend, Switzerland received it's first Bitcoin machine, with a Lamassu unit making an appearance at the Markthalle in Zurich. And perhaps while the Lamassu isn't a bitcoin ATM in the traditional sense (in that it only converts fiat to bitcoin and not vice-versa), the potential for introducing newcomers to this emerging digital currency is high.