Several Major Swiss Companies Initiated the Creation of the Blockchain Association

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On June 12, an official press release was published, in which it was reported that a special group had been set up in Switzerland to implement Blockchain in the financial sector. The organization was named the Association of Capital Markets and Technologies (CMTA).

The creation was initiated by three major local companies: the online business Swissquote, the IT company Temenos, and the law firm Lenz & Staehelin. It is reported that the work of CMTA will be aimed at developing norms and tools for attracting investments with the help of new technologies. The project is aimed at various companies throughout the country.

The CMTA chairman Jacques Iffland said that:

“The blockchain technology has the potential to reduce the complexity of the capital markets system and lower the barrier of entry for start-ups. The current lack of legal certainty is slowing – and potentially compromising – its development in this field. By defining a set of industry-supported, open standards, the CMTA aims to facilitate access to funding for businesses, ultimately contributing to value creation throughout the economy.”

It is worth noting that the CMTA is a non-profit and non-governmental association. An important factor is that the co-founders of the project are engaged in completely different activities and have different purposes for the use of Blockchain.

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