{"id":2,"date":"2024-03-05T12:17:43","date_gmt":"2024-03-05T12:17:43","guid":{"rendered":"https:\/\/cryptovalleypioneers.ch\/?page_id=2"},"modified":"2024-03-06T07:40:26","modified_gmt":"2024-03-06T07:40:26","slug":"crypto-valley-pioneers","status":"publish","type":"page","link":"https:\/\/www.cryptovalleypioneers.ch\/en\/crypto-valley-pioneers\/","title":{"rendered":"The Crypto Tour"},"content":{"rendered":"[et_pb_section fb_built=»1″ _builder_version=»4.24.2″ background_size=»initial» background_repeat=»repeat» hover_enabled=»0″ collapsed=»on» global_colors_info=»{}» background_enable_image=»off» sticky_enabled=»0″][et_pb_row _builder_version=»4.16″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» collapsed=»off» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.16″ custom_padding=»|||» global_colors_info=»{}» custom_padding__hover=»|||»][et_pb_text admin_label=»Intro text» module_id=»about» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» global_colors_info=»{}»]

Welcome to Crypto Valley!<\/h1>\n

 <\/p>\n

Crypto history is written here since 2013. Crypto Valley is the largest blockchain and crypto ecosystem worldwide, based out Zug\/Switzerland. How did it all begin?\u00a0Learn more about the genesis of Crypto Valley, its pioneers and important crypto and blockchain projects, and also what these technologies are and why they shape the future.<\/p>\n

The story begins on October 31, 2008, when an unknown person with the pseudonym \u201cSatoshi Nakamoto\u201d publishes the Bitcoin white paper. The paper combines existing ideas from cryptography, monetary policy and distributed computing in a novel way and proposes a peer-to-peer electronic cash system. In contrast to euros, dollars and Swiss francs, digital algorithms create cryptocurrencies, not a central bank. All transactions are stored on a blockchain, which is essentially a digital ledger that everyone can see. On the Bitcoin blockchain, miners create a new block every ten minutes, which contains a certain number of transactions and is linked to the previous block. These blocks form an unbreakable chain \u2013 hence the name \u201cblockchain\u201d.<\/p>\n

Cryptocurrencies allow people to transact with each other cost-effectively, regardless of their location or financial situation. Blockchain technology promises many other applications, such as digital identities, security in supply chains or digital voting. And Zug plays a pivotal role in this, as we will soon find out.<\/p>\n

<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»123″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=mnQ70FiMC6s» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Aabachstrasse 5: Office for Economic Affairs and Labor» module_id=»AWA» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Aabachstrasse 5: Office for Economic Affairs and Labor<\/h3>\n

It all begins here at Aabachstrasse in 2013 with the serendipitous concurrence of several events.<\/p>\n

Johann Gevers, a Canadian technology entrepreneur, is looking for a secure jurisdiction for his Bitcoin company Monetas since 2013. Bitcoin is still relatively unknown at the time and is mostly associated with the darknet and money laundering. Governments want nothing to do with it. In the absence of clear case law, the first crypto entrepreneurs are operating in a gray zone.<\/p>\n

Zug has long been an excellent place to do business, thanks to low taxes and the open attitude of the authorities. Zug\u2019s cantonal and city governments are looking for ways to bring more technology companies to the canton. When Johann Gevers presents his vision to the authorities in 2013, he finds he preaches to the choir.<\/p>\n

At the same time, other crypto entrepreneurs have the same idea. Together with Zug\u2019s government, they lay the foundation for Crypto Valley and pave the way for the global success story of cryptoassets and blockchain technology. Without Crypto Valley, cryptoassets as we know them today would probably not exist. Isn’t it amazing what a few bright minds and a whole lot of courage can achieve?<\/p>\n

Now check out how Johann Gevers himself and Bernhard Neidhart, the head of the Office for Economic Affairs and Labor in the Canton of Zug, report how everything began.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Grafenauweg 12: Bitcoin Suisse» module_id=»bitcoin-suisse» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Grafenauweg 12: Bitcoin Suisse<\/h3>\n

Here we stand in front of the world headquarters of Bitcoin Suisse, one of the first and most important crypto companies in Crypto Valley. The company starts modestly in a tiny office in Baar before eventually moving to the chic Grafenauweg 12 in Zug. Niklas Nikolajsen, a programmer from Denmark, kickstarts the company 2013 together with the business students Fabian Hediger and Andrej Majcen. Today, Bitcoin Suisse has over 200 employees and is one of the largest crypto financial providers in Europe.<\/p>\n

With over $5 billion in assets under management (as of 2023), Bitcoin Suisse plays an important role in promoting and distributing digital currencies worldwide. Niklas Nikolajsen is now one of the 300 wealthiest people in Switzerland.<\/p>\n

Since the beginning, Bitcoin Suisse has a hand in almost all the large crypto projects in Crypto Valley. Let’s hear directly from Fabian Hediger, co-founder of Bitcoin Suisse, how its success story began.<\/p>[\/et_pb_text][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=IiHTzCV58P8″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»126″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»129″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Grafenauweg 6: Restaurant Meating» module_id=»meating» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Grafenauweg 6: Restaurant Meating<\/h3>\n

Want to exchange your crypto for a steak? You can do this in this restaurant here. Of course, Meating is not the only restaurant in the world where this is possible, but in Zug it is one of the first. Many businesses in Zug now accept crypto.<\/p>\n

How exactly do you exchange cryptocurrencies, such as bitcoin, for a steak? You need a wallet app on your smartphone that can send and receive bitcoin. The restaurant then provides a QR code that contains the wallet address of the restaurant and the amount to be paid. The conversion of Swiss francs into crypto then happens at the current exchange rate. Because cryptocurrencies are volatile, the exchange rate can fluctuate significantly from minute to minute.<\/p>\n

Whether bitcoin is the best means of payment for a steak is questionable. Most investors speculate on long-term appreciation and hold their crypto for as long as possible. With its wild price fluctuations, it could well be that the bitcoins you shelled out for a steak a few months ago are now worth thousands of francs. This happens to a programmer from Sweden on May 22 in 2010, when he pays 10,000 bitcoins for two delivery pizzas \u2013 worth today $500 million (January 2024). This mishap is celebrated as Bitcoin Pizza Day.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Gubelstrasse 22: Law firm MME» module_id=»MME» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Gubelstrasse 22: Law firm MME<\/h3>\n

MME, a law firm co-founded by the attorney Luka M\u00fcller from Zug, resides here at Gubelstrasse 22. In 2014, Luka is sitting at his desk, hunched over boring files, when a teenager named Vitalik Buterin asks him for advice on his obscure crypto project Ethereum. At that time, Bitcoin is still the only cryptocurrency, but Vitalik wants to launch his own currency, ether, and raise capital for it. Luka M\u00fcller sets up a foundation for him in Zug to stay on the right side of the law and properly manage the funds. On February 1, 2014, the Ethereum Foundation, the world’s first blockchain foundation, is created. At Station 12 and 14 we learn more about Ethereum.<\/p>\n

Luka M\u00fcller’s insight to use a Swiss foundation for blockchain projects creates exactly the legal certainty that crypto entrepreneurs long for. Almost all blockchain projects use a foundation structure today, and MME is celebrated as a pioneer around the world. Many founders and developers now live and work elsewhere, but their foundations remain in Zug.<\/p>\n

How did Luka M\u00fcller experience all of this? Let’s listen to his own experience in the eye of the storm.<\/p>[\/et_pb_text][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=uwB67_ekCLc» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»133″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»134″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=uzkESjyUVvE» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Gubelstrasse 22: Zug city administration» module_id=»cityzug» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Gubelstrasse 22: Zug city administration<\/h3>\n

The city administration of Zug is also located at Gubelstrasse 22, and it plays an important role in the history of Crypto Valley, too. The mayor of Zug, Dolfi M\u00fcller, decides in 2016 to accept bitcoin as a means of payment for some administration fees. With this courageous act, Zug is the first city in the world to accept a cryptocurrency as an official means of payment. Remember, this decision comes at a time when bitcoin still has a dubious reputation in the media as the tender of choice for nefarious actors. Zug\u2019s endorsement attracts global media attention around the world that helps bitcoin partly shake off its bad reputation. The city generates a PR buzz worth an estimated 20 million Swiss francs and establishes Crypto Valley overnight as a hotspot for cryptoassets and blockchain technology.<\/p>\n

Since then, Zug is continuously expanding its blockchain offering. There is a digital ID stored on the blockchain and you can even pay your taxes in bitcoin or ether. This is unique worldwide. Let’s hear directly from the city government how it all unfolded.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Dammstrasse 16: CV VC, CV Labs» module_id=»CVVC» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Dammstrasse 16: CV VC, CV Labs<\/h3>\n

CV CV and CV Labs, an investment fund and incubator focusing on blockchain technology, are located here at Dammstrasse 16. From here, the Cardano Foundation raises $62 million in its Initial Coin Offering (ICO) between 2015 and 2017. The Tezos Foundation tops this with $232 million on July 1, 2017 \u2013 the largest ICO of all time.<\/p>\n

What exactly is an ICO? An initial coin offering (ICO) is a method of raising seed capital for a new blockchain project by selling crypto tokens and then using the funds to develop the technology. It is essentially a crowdfunding, where people donate money to a project in exchange for digital tokens, the value of which they expect to rise as the project becomes successful. Crypto Valley plays an important role in this, because the Ethereum ICO still attracts entrepreneurs from all over the world to Zug. Today, ICOs have become rarer, but this new type of fundraising shapes Crypto Valley, as it has created tremendous wealth in the region.<\/p>\n

Mathias Ruch, the co-founder of CV VC and CV Labs, explains how he experienced the ICO boom and where he sees things heading.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»135″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=xDCJ6DMFEYM» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»136″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Dammstrasse 16: SHED Club» module_id=»SHED» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Dammstrasse 16: SHED Club<\/h3>\n

Since March 2021, there is a new and exclusive meeting spot in town. The members‘ club SHED combines culinary delights with networking and is the first membership club of its kind in Zug. It sports a five-star restaurant and a cigar bar, but these are for members only, of course.<\/p>\n

Until a few years ago, this part of the city is largely used for heavy and light industry and is therefore not particularly attractive. The crypto entrepreneurs who started the SHED Club have helped this part of town spring back to life. One of the co-founders of the SHED, Ralf Glabischnig, is an important player when it comes to promoting Crypto Valley to the outside world. He now lives and works in Zug and Dubai and exports the Crypto Valley model to Asia. He explains himself how he does this.<\/p>[\/et_pb_text][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=G7UIy4Aiw4Y» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Gotthardstrasse 26: Inacta» module_id=»inacta» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Gotthardstrasse 26: Inacta<\/h3>\n

We stand in front of the Lakeside Business Center that another important company in the Crypto Valley calls home, the Inacta AG. Inacta has been around long before Crypto Valley, but it is important in this story. While most early blockchain projects serve the early adopters in the crypto space, Inacta builds the bridge to other industrial sectors. It is one of the first software service providers that develops crypto payment solutions for Swiss companies such as insurance companies or banks. We already met its co-founder Ralf Glabischnig in the SHED Club.<\/p>\n

Fun fact: One of the first Bitcoin ATMs in Zug stands here until someone steals it on October 20, 2017. A year later, hunters find the heavily vandalized ATM in a forest above Zug. Both the bitcoins and the cash are still inside.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»137″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»138″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Gartenstrasse 4: Web3 Foundation» module_id=»web3″ _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Gartenstrasse 4: Web3 Foundation<\/h3>\n

The Web3 Foundation, one of the larger blockchain projects working out of Zug, takes up residence here since 2017.<\/p>\n

What exactly is Web3? When we surf today’s internet, the so-called Web2, we generate data that behemoth companies like Google or Facebook collect to feed us advertising. They enwrap us in our own filter bubble, in which we only see information online that corresponds to our profile and our surfing habits. Web3 wants to put an end to this. It promises to return control of personal data to users and make web use safer with blockchain technology. Web3 also simplifies trading and custody of cryptoassets.<\/p>\n

But there is a challenge: Which of the over 1,000 different blockchains with different functions and properties should Web3 use? Quite simply: all of them. Projects such as Polkadot connect different blockchains and enable synergies between them. This also makes decentralized applications (DApps) possible across different blockchains. As such, the financial sector, digital identity or supply chains can become more efficient without having to commit to a specific blockchain. By the way, the term \u201cWeb3\u201d was coined by Gavin Wood, a co-founder of Ethereum.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Gartenstrasse 6: ConsenSys» module_id=»consensys» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Gartenstrasse 6: ConsenSys<\/h3>\n

Unfortunately, blockchains and cryptoassets are still too complicated for most people to use in everyday applications. Companies like ConsenSys want to change this. Its headquarters are in New York, and since 2016 the company also has a foundation in Zug, in this building right here. The founder of ConsenSys is Joe Lubin, another co-founder of Ethereum.<\/p>\n

ConsenSys is one of the first companies to advocate for the wide application of Ethereum in many different industries. To achieve mainstream adoption, the company develops wallets such as Metamask and other tools that facilitate the development of decentralized apps (DApps) and smart contracts. ConsenSys has partnerships with major banks and software companies like Microsoft to test their technology in the real world.<\/p>\n

By the way, have you noticed how many blockchain innovations have emerged from the Ethereum environment? ConsenSys, the Web3 Foundation, Cardano \u2013 they were all founded by Ethereum co-founders, right here in Crypto Valley.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»139″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»140″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Rigistrasse 2: NFT gallery unpaired» module_id=»unpaired» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Rigistrasse 2: NFT gallery unpaired<\/h3>\n

This is the art gallery unpaired, specialized in digital art and NFTs. \u201cNFT\u201d stands for \u201cnon-fungible token,\u201d a special kind of token on the Ethereum blockchain that stores ownership rights and protects digital works by copyright. Each NFT is a separate, clearly identifiable digital asset. In contracts, every bitcoin is the same and has the same value.<\/p>\n

What does this have to do with art? Well, there is exactly one version of a painting like the Mona Lisa that belongs to one owner. However, there are infinite copies of digital works, such as photos, videos or songs, because they can be copied and distributed over the Internet, legally or less legally. NFTs can help here, because they make digital goods unique and help to protect their creators.<\/p>\n

NFTs can be anything that exists digitally \u2013 photos, videos, animations, data sets, artificial intelligences or virtual properties in the metaverse. An NFT can belong to just one person or to many thousands at the same time who share ownership rights. NFTs can also regulate commissions and resale rights. Such legal structures are very complicated without NFTs. Of course, there are also breakneck records with this blockchain technology: The most expensive NFT to date, \u201cThe Merge,\u201d was sold in 2023 for the equivalent of $91 million.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Seepromenade: Ethereum-Tree» module_id=»ethereum-tree» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Seepromenade: Ethereum-Tree<\/h3>\n

A milestone in crypto history takes place here in 2014. For the first time, the Ethereum Foundation can pay out salaries, and this transaction takes place underneath this tree right here.<\/p>\n

The history of Ethereum begins in 2013. The 20-year-old Russian-Canadian coder Vitalik Buterin devises a new blockchain and cryptocurrency, Ethereum and ether. He lands in Zug with his team. The attorney Luka M\u00fcller sets up the Ethereum Foundation to collect start-up capital with a crowdsale in 2014. Surpassing all expectations, they raise about 31,000 bitcoins, $18 million at the time. This war chest helps pay for the development of the technology. Today, Ethereum has a market cap of around $330 billion (as of February 2024), more than all major Swiss banks combined. After Bitcoin, Ethereum is the most important blockchain.<\/p>\n

What makes Ethereum special? While Bitcoin is basically a digital ledger, so-called smart contracts can be programmed on Ethereum. These are digital contracts that execute at lightning speed and allow the recreation of entire banks, notaries and complex legal processes. Many smart contracts are still theoretical, but they promise to revolutionize our lives, especially if robots or artificial intelligences enter into contracts one day in the future.<\/p>\n

Mihai Alisie, the co-founder of Ethereum, and Herbert Sterchi, the local Swiss director of the foundation, explain more.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»141″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=Tpfg28qS7QQ» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»143″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=gIl0g_oCZ-M» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Bahnhofstrasse 1: Zuger Kantonalbank, Postplatz branch» module_id=»zugerkb» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Bahnhofstrasse 1: Zuger Kantonalbank, Postplatz branch<\/h3>\n

While the major Swiss banks are relatively open toward the crypto scene in the early days, they later withdraw completely. Cryptocurrencies still have too shady an image for banks, and the many scandals and spectacular crashes help little, either. Crypto and blockchain projects still find it difficult to open a bank account in Switzerland and have to do business with banks in Liechtenstein. But fortunately, this is slowly changing.<\/p>\n

Since August 2019, the two Swiss banks SEBA \u2013 since renamed Amina \u2013 and Sygnum exclusively offer crypto services. The big Swiss banks are also following suit. Zuger Kantonalbank, for example, stores cryptocurrencies for its customers in a regular bank account as if they were Swiss francs, euros or dollars. Other Swiss banks are rolling out similar services. It seems the crypto world and the established financial sector finally move a little closer together.<\/p>\n

Let’s hear directly from Hanspeter Rhyner, the CEO of Zuger Kantonalbank, what he thinks about Bitcoin & Co.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Zeughausgasse 7A: Ethereum Foundation» module_id=»ethereum-foundation» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Zeughausgasse 7A: Ethereum Foundation<\/h3>\n

Did you know that one of the most important crypto and blockchain projects in the world is based here? This is the mailing address of the Ethereum Foundation, perhaps the most crucial project in crypto history. An apartment in this building is also briefly a crash pad for the Ethereum team, including Vitalik Buterin and Ming Chan, who have long since moved on.<\/p>\n

We have already learned a lot about Ethereum, so we will keep short here. Simply put: Without Ethereum, there would be no Crypto Valley. Isn’t it amazing how billion-dollar blockchains hide in such unassuming buildings?<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»144″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»145,146″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» animation_style=»slide» auto=»on» global_colors_info=»{}»][\/et_pb_gallery][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Kolinplatz 11 and 15: Hotel Ochsen, Amina Bank (SEBA), former city administration» module_id=»kolinplatz» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Kolinplatz 11 and 15: Hotel Ochsen, Amina Bank (SEBA), former city administration<\/h3>\n

Zug\u2019s Kolinplatz is a crypto hotspot that contains a concentrated load of Crypto Valley history.<\/p>\n

First, the Hotel Ochsen at Kolinplatz 11, where some of the first Bitcoin meetups in Zug take place in 2014. At that time, Bitcoin is still the only cryptocurrency in the world, there is no Ethereum or any of the other 20,000 cryptocurrencies that exist today (as of January 2024). Already back then, Bitcoin enthusiasts regularly talk shop here in the Ochsen.<\/p>\n

Second, SEBA Bank, now called Amina, is located at Kolinplatz 15. It is one of the first two Swiss crypto banks (together with Sygnum) to receive its banking license in August 2019. Cryptocurrencies have officially arrived in the Swiss financial world.<\/p>\n

Third, Amina Bank rents the former premises of the city administration of Zug, which is now located at Gubelstrasse 22 (Station 5). The city\u2019s famous first bitcoin transaction takes place in this building on July 1, 2016, when Zug accepts bitcoin as payment for some administrative fees. This bold move positions Crypto Valley as a global hotspot overnight and breathes credibility into the nascent crypto boom.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=»1_2,1_2″ admin_label=»Station row» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_text admin_label=»Artherstrasse 4: Theater Casino \u2013 Crypto Valley Conference and CV Summit» module_id=»theatercasino» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» global_colors_info=»{}»]

Artherstrasse 4: Theater Casino \u2013 Crypto Valley Conference and CV Summit<\/h3>\n

In the last stop of the Crypto Walk we stand in front of the Theater Casino, where the CV Summit takes place since 2017 and the Crypto Valley Conference since 2018. The Crypto Valley Association organizes the Crypto Valley Conference, the first blockchain conference in the world with the IEEE seal of approval. It no longer takes place here, but at the HSLU in Rotkreuz. The CV Summit, organized by CV Labs, remains loyal to the Theater Casino.<\/p>\n

These conferences are important because they make the Crypto Valley visible for the first time. Their focus is primarily on legal frameworks, regulatory challenges, technological innovations and use cases for blockchain technology and cryptoassets.<\/p>\n

Let’s hear from the organizers themselves about how they experience the first conferences. They also talk about the beginnings of the Crypto Valley Association, the Swiss Blockchain Federation, and the Blockchain Lab at the Lucerne University of Applied Sciences and Arts (HSLU), which take Crypto Valley far beyond Zug into the world.<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=»1_2″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_gallery gallery_ids=»142″ fullwidth=»on» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_gallery][et_pb_video src=»https:\/\/www.youtube.com\/watch?v=Dw9KSQAb2CE» _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_video][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=»Divider row» _builder_version=»4.24.2″ _module_preset=»default» collapsed=»on» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][et_pb_divider _builder_version=»4.24.2″ _module_preset=»default» global_colors_info=»{}»][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=»4.16″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» locked=»off» collapsed=»off» global_colors_info=»{}»][et_pb_column type=»4_4″ _builder_version=»4.16″ custom_padding=»|||» global_colors_info=»{}» custom_padding__hover=»|||»][et_pb_text admin_label=»Conclusion» _builder_version=»4.24.2″ background_size=»initial» background_position=»top_left» background_repeat=»repeat» global_colors_info=»{}»]

Conclusion<\/h3>\n

Now you know a whole lot about Crypto Valley, including many of the most important masterminds and protagonists in its history.<\/p>\n

The story of cryptoassets and blockchain technology is still being written, because in addition to Crypto Valley, there are now other locations such as Dubai or Singapore that are attractive for crypto entrepreneurs. Crypto Valley must continue to develop and reinvent itself, but that shouldn’t be a problem for Zug.<\/p>\n

Further information about Crypto Valley and the topic of cryptocurrencies and blockchain is available here:<\/p>\n

 <\/p>\n