Johann N. Schneider-Ammann, the head of Switzerland’s Department of Economic Affairs, has said that blockchain technology will undoubtedly penetrate the entire economy of Switzerland and make a global impact that is as big as that of the internet.
Ammann noted that Switzerland has already evolved into a leader in blockchain technology and intends to continue supporting the cryptocurrency sector and companies within it. During his speech at the Crypto Valley Conference in Zug, Ammann added that the World Wide Web may have been invented in Geneva, Switzerland, but due to impractical policies and insufficient developments, the majority of internet work was done elsewhere.
“Switzerland is a global leader in terms of this new technology and its economic application. We would do well to continue at pace, instead of laying the right tracks after the moment has passed. History is littered with examples of what happens when the train speeds off in a different direction,” Ammann noted.