{"id":7,"date":"2016-05-10T03:48:21","date_gmt":"2016-05-10T03:48:21","guid":{"rendered":"http:\/\/en.gwam.ch\/?page_id=2"},"modified":"2022-03-17T12:55:00","modified_gmt":"2022-03-17T11:55:00","slug":"bitcoin-and-blockchain","status":"publish","type":"page","link":"https:\/\/gwam.ch\/en\/","title":{"rendered":"INDEPENDENT FINANCIAL ADVISOR"},"content":{"rendered":"

INDEPENDENT FINANCIAL ADVISOR<\/h4>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/h4>\n

INVESTMENT OPPORTUNITIES<\/span><\/span><\/a><\/div><\/h4>\n

\"GWAM<\/a><\/p>\n

\"\"<\/a><\/p>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

GOODWILL ASSET MANAGEMENT DOES NOT HOLD BITCOIN AND DOES NOT MANAGE CUSTOMERS’ WALLET<\/div><\/div>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

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World\u2019s First Regulated Blockchain Real Estate Crowdsale Platform Launched in Switzerland<\/h1>\n<\/header>\n
\n
\"BITCOIN<\/figure>\n<\/div>\n
\n
blockimmookenized assets are here to stay. The current race is about who can get regulated products to the market first and then who can successfully gain user adoption. While several projects have purported to tokenize real estate assets, \u00a0is the first to do it within the bounds of existing regulations in two jurisdictions.<\/figcaption><\/figure>\n

The blockimmo platform launched recently with two test properties, but they intend to have actual real estate listed in the beginning of 2019.<\/p>\n

The way blockimmo works is a real estate seller lists the property on the platform, along with an issuance of tokens which will represent shares of the property. Investors are then able to invest however much they like and watch the crowdsale progress. Various terms and limits can be placed on the sale. Once the sale is complete, each person who invested receives representative tokens in their wallet, tokens which are associated with a real-world holding by an investment firm in Lichtenstein.<\/p>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

Not Available in the US<\/h2>\n

The question of enforceability arises when there can be literally dozens of owners of a single property and the tokens can be swapped between wallets at will. To deal with this, blockimmo is limiting its operations to places where it is sure it can be fully regulated: Switzerland and Lichtenstein. They intend to expand to other parts of Europe as properties are successfully listed and the platform grows.<\/p>\n

The properties that are sold on the platform, in a legal sense, are held by a Lichenstein firm, each with its own sub-fund. This is how the properties are secured in an IRL sense.<\/p>\n

Switzerland is a great place to start a project like blockimmo because of the organization of its existing land registry. Founder Bastiaan Don said of this:<\/p>\n

The properties we tokenise are already designated with the precise E-GRID number directly in the blockchain. This is already a known quantity in Switzerland and they are already entered as such in their own, centralised land register. Synchronising the systems would be a first step towards\u00a0a land register<\/a>\u00a0on the Blockchain.<\/p><\/blockquote>\n

The big news last week for blockimmo was that FINMA, the Swiss financial regulatory body, had approved both their business model and their security token offering. This means they\u2019re totally free to pursue their goals, and don\u2019t have to worry about later running into problems with regulators. Swiss laws still apply to properties that are listed and exist within Switzerland, and there are various restrictions on foreigners investing in Swiss real estate.<\/p>\n

FINMA\u00a0announced<\/a>\u00a0this week that blockchain companies would be able to successfully operate in Switzerland with only minimal changes to its regulations.<\/p>\n

The project has brought in a legal firm called MME to help it with legal issues that may arise, and also has the backing of family-run bank,\u00a0Bank Frick<\/a>, whose Director of Funds & Products, Raphael Haldner, said of the project:<\/p>\n

The implementation of projects like blockimmo demonstrates the expertise of Bank Frick in the field of digital business models and products, as well our innovative drive.<\/p><\/blockquote>\n

Two example properties are live at blockimmo.ch so the public can see how the platform is intended to work. Real listings are expected to be happening as early as next month.<\/p>\n<\/div>\n

This week, SIX Swiss Exchange, Switzerland\u2019s principal stock exchange based in Zurich, approved the listing of a crypto exchange-traded product (ETP) with the ticker \u201cHODL.\u201d<\/p>\n

Like the Coinbase Index and Bitwise Hold 10, Amum ETP represents the value of five cryptocurrencies that include Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH).<\/p>\n

Investors in the Amun ETP will hold a basket of cryptocurrencies that meet the requirements and criteria set forth by the investment firm.<\/p>\n

\u201cUnlike actual assets such as stocks or gold, an index doesn\u2019t have its own price, but displays a value representing the prices of underlying group of assets according to its own specific calculation methodology. For example, S&P 500 is calculated by taking the sum of the adjusted market capitalization of all S&P 500 stocks and then dividing it with an index divisor, which is a proprietary figure developed by Standard & Poor\u2019s,\u201d the company explained.<\/p>\n

Table of Contents
\nCould Swiss ETP Increase Bitcoin ETF Chance of Approval?
\nSo What Needs to be Done to Increase ETF Approval Chance?
\nShare this:
\nLike this:
\nCould Swiss ETP Increase Bitcoin ETF Chance of Approval?
\nThe short answer is no. The Amun ETP is conceptually similar to an exchange-traded fund (ETF) in the sense that it allows both institutional investors and accredited retail traders to invest in digital assets without the necessity of custodians and dealing with additional regulatory hurdles.<\/p>\n

Traded on SIX Swiss Exchange, the HODL ETP will operate like how a normal publicly-listed stock would, allowing investors to sell and buy shares in the HODL ETP to indirectly invest in the cryptocurrency market.<\/p>\n

\u201cThe Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments,\u201d Hany Rashwan, co-founder and chief executive of Amun, said.<\/p>\n

bitcoin etf<\/p>\n

While the approval of a crypto ETP by the main stock exchange of Switzerland is a positive milestone for the industry, an ETP already exists in the US market in the form of Grayscale Investment\u2019s Bitcoin Investment Trust, and investors in the local market can purchase investment vehicles that represent the value of BTC.<\/p>\n

In July, the US Securities and Exchange Commission (SEC) rejected the Bitcoin ETF proposal by the Winklevoss twins, who filed an application for an ETF that based the price of BTC on a regulated exchange called Gemini. At the time, the SEC clarified that the cryptocurrency exchange market is not mature enough to handle an ETF.<\/p>\n

In August, eight ETFs were filed by ProShares and two other companies, basing the price of BTC on the futures market as a response to the SEC\u2019s denial of the Winklevoss ETF. The eight ETFs were also rejected by the SEC, which firmly stated that the futures market is not of significant size to provide the base value of BTC.<\/p>\n

\u201cProShares & the other ETFs tried to solve this problem by pricing bitcoin through the well-respected, regulated CBOE & CME futures markets. In theory, this gave derivative-backed ETFs a better chance of approval than commodity-backed ETFs, which use unregulated spot markets. The SEC wasn\u2019t impressed, finding that the bitcoin futures markets aren\u2019t \u2018of significant size\u2019 as required by the Winklevoss denial,\u201d Kobre & Kim government enforcement defense attorney Jake Chervinsky said.<\/p>\n

So What Needs to be Done to Increase ETF Approval Chance? BITCOIN AND BLOCKCHAIN IN SWITZERLAND
\nTo increase the probability of a BTC ETF approval, companies that apply with the SEC must offer a compelling solution to the SEC\u2019s issue that the cryptocurrency exchange market and the futures market are not sufficient to determine the real price of BTC.<\/p>\n

Some BITCOIN AND BLOCKCHAIN IN SWITZERLAND speculate that the launch of Bakkt\u2019s futures market could persuade the SEC to enable a futures market-based ETF, but the potential impact of Bakkt on the crypto BITCOIN AND BLOCKCHAIN IN SWITZERLAND sector still remains unknown.<\/p>\n

Residents of the Swiss city,\u00a0Zug<\/a>, will use the city\u2019s eID system to vote using their smartphones this month as part of a blockchain based voting test, according to the\u00a0Swiss Broadcasting Corporation<\/a>. From June 25 to July 1, residents will download an app to register to vote.<\/p>\n

The city, home to what\u2019s known as the \u201cCrypto Valley<\/a>\u201d because of its numerous blockchain startups, established its eID system last November and already has close to 200 users. Zug already accepts cryptocurrencies to pay for some city services.<\/p>\n

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BITCOIN AND BLOCKCHAIN IN SWITZERLAND Voters To Address Several Issues BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n<\/div>\n<\/div>\n

Voters will be asked if they believe digital identifications should be used for paying parking fees and to borrow library books. They will also be asked if the digital IDs should be used for future referendums.<\/p>\n

The results of the votes will not be binding since the polling is only a test. The city is trying to determine if blockchain technology can be used on a wider scale.<\/p>\n

The city\u00a0launched the eIDs last fall<\/a>\u00a0to give digital access for council services on a test basis. The test gave users full control over their data.<\/p>\n

The voting pilot will be Switzerland\u2019s first electronic polling test. The government wants two-thirds of the country\u2019s cantons to offer electronic voting by the end of next year.<\/p>\n

Also read:\u00a0Zug citizens begin digital ID registration on an Ethereum blockchain<\/a><\/em><\/p>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

Digital ID Systems Expand<\/span><\/h2>\n

The Zug electronic ID system is not the only such system in Switzerland.<\/p>\n

Another eID system in Canton Schaffhausen, launched with the assistance of Procivis, is not on a blockchain. This system, which will launch following a test that started in December, provides smartphone access to tax, road traffic, child protection and other departments. The access will also be granted to businesses.<\/p>\n

Additionally, a national digital ID system called SwissSignwas launched last year by a private consortium consisting of banks, insurance companies, a stock exchange operator, Swiss Post, and Swiss Federal Railways.<\/p>\n

Swiss<\/a>\u00a0blockchain<\/a>\u00a0identity<\/a>\u00a0network Concordium has hired former\u00a0Danish<\/a>\u00a0prime minister and\u00a0NATO<\/a>\u00a0secretary general Anders Fogh Rasmussen as a strategic advisor, the company confirmed in a\u00a0press release<\/a>\u00a0on March 20.<\/p>\n

The Concordium Foundation, the controlling entity behind the Concordium Network that launched a proof of concept in January, aims to tackle blockchain deployment in certain fields with Rasmussen\u2019s expertise.<\/p>\n

The former politician currently heads Rasmussen Global, a consultancy firm active in diverse fields including democracy, transatlantic relations and security policy.<\/p>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

\u201cGiven the enormous scope and far-reaching potential of the Concordium Network, it is essential for the Concordium Foundation to harness the knowledge of those with invaluable in-depth strategic expertise,\u201d Concordium\u2019s chairman, Lars Seier Christensen, commented in the press release. He added:<\/p>\n

\u201cAnders will play a pivotal role in our global expansion plans to move into areas that require a blockchain solution for secure and private communications, as well as liaising with governmental departments that will benefit from its implementation.\u201d<\/p><\/blockquote>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

While Rasmussen collaboration will focus on\u00a0voting<\/a>\u00a0identity in particular, Concordium is aiming to position itself as a more general blockchain operator, facilitating record-keeping for transactions.<\/p>\n

Discussing his appointment, Rasmussen likewise appeared buoyant on the technology\u2019s potential. BITCOIN AND BLOCKCHAIN IN SWITZERLAND<\/p>\n

BITCOIN AND BLOCKCHAIN IN SWITZERLAND \u201cWe are only beginning to see the benefits that blockchain technology will bring to our societies, including in our democratic processes,\u201d he added in the press release.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

INDEPENDENT FINANCIAL ADVISOR BITCOIN AND BLOCKCHAIN IN SWITZERLAND INVESTMENT OPPORTUNITIES BITCOIN AND BLOCKCHAIN IN SWITZERLAND BITCOIN AND BLOCKCHAIN IN SWITZERLAND World\u2019s First Regulated Blockchain Real Estate Crowdsale Platform Launched in Switzerland blockimmookenized assets are here to stay. The current race is about who can get regulated products to the market first and then who can successfully gain user adoption. While several projects have purported to tokenize real estate assets, \u00a0is the first to do it within the bounds of existing regulations in two jurisdictions. The blockimmo platform launched recently with two test properties, but they intend to have actual real estate listed in the beginning of 2019. The way blockimmo works is a real estate seller lists the property on the platform, along with an issuance of tokens which will represent shares of the property. Investors are then able to invest however much they like and watch the crowdsale progress. Various terms and limits can be placed on the sale. Once the sale is complete, each person who invested receives representative tokens in their wallet, tokens which are associated with a real-world holding by an investment firm in Lichtenstein. BITCOIN AND BLOCKCHAIN IN SWITZERLAND Not Available in the US The question of enforceability arises when there can be literally dozens of owners of a single property and the tokens can be swapped between wallets at will. To deal with this, blockimmo is limiting its operations to places where it is sure it can be fully regulated: Switzerland and Lichtenstein. They intend to expand to other parts of Europe as properties are successfully listed and the platform grows. The properties that are sold on the platform, in a legal sense, are held by a Lichenstein firm, each with its own sub-fund. This is how the properties are secured in an IRL sense. Switzerland is a great place to start a project like blockimmo because of the organization of its existing land registry. Founder Bastiaan Don said of this: The properties we tokenise are already designated with the precise E-GRID number directly in the blockchain. This is already a known quantity in Switzerland and they are already entered as such in their own, centralised land register. Synchronising the systems would be a first step towards\u00a0a land register\u00a0on the Blockchain. The big news last week for blockimmo was that FINMA, the Swiss financial regulatory body, had approved both their business model and their security token offering. This means they\u2019re totally free to pursue their goals, and don\u2019t have to worry about later running into problems with regulators. Swiss laws still apply to properties that are listed and exist within Switzerland, and there are various restrictions on foreigners investing in Swiss real estate. FINMA\u00a0announced\u00a0this week that blockchain companies would be able to successfully operate in Switzerland with only minimal changes to its regulations. The project has brought in a legal firm called MME to help it with legal issues that may arise, and also has the backing of family-run bank,\u00a0Bank Frick, whose Director of Funds & Products, Raphael Haldner, said of the project: The implementation of projects like blockimmo demonstrates the expertise of Bank Frick in the field of digital business models and products, as well our innovative drive. Two example properties are live at blockimmo.ch so the public can see how the platform is intended to work. Real listings are expected to be happening as early as next month. This week, SIX Swiss Exchange, Switzerland\u2019s principal stock exchange based in Zurich, approved the listing of a crypto exchange-traded product (ETP) with the ticker \u201cHODL.\u201d Like the Coinbase Index and Bitwise Hold 10, Amum ETP represents the value of five cryptocurrencies that include Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH). Investors in the Amun ETP will hold a basket of cryptocurrencies that meet the requirements and criteria set forth by the investment firm. \u201cUnlike actual assets such as stocks or gold, an index doesn\u2019t have its own price, but displays a value representing the prices of underlying group of assets according to its own specific calculation methodology. For example, S&P 500 is calculated by taking the sum of the adjusted market capitalization of all S&P 500 stocks and then dividing it with an index divisor, which is a proprietary figure developed by Standard & Poor\u2019s,\u201d the company explained. Table of Contents Could Swiss ETP Increase Bitcoin ETF Chance of Approval? So What Needs to be Done to Increase ETF Approval Chance? Share this: Like this: Could Swiss ETP Increase Bitcoin ETF Chance of Approval? The short answer is no. The Amun ETP is conceptually similar to an exchange-traded fund (ETF) in the sense that it allows both institutional investors and accredited retail traders to invest in digital assets without the necessity of custodians and dealing with additional regulatory hurdles. Traded on SIX Swiss Exchange, the HODL ETP will operate like how a normal publicly-listed stock would, allowing investors to sell and buy shares in the HODL ETP to indirectly invest in the cryptocurrency market. \u201cThe Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments,\u201d Hany Rashwan, co-founder and chief executive of Amun, said. bitcoin etf While the approval of a crypto ETP by the main stock exchange of Switzerland is a positive milestone for the industry, an ETP already exists in the US market in the form of Grayscale Investment\u2019s Bitcoin Investment Trust, and investors in the local market can purchase investment vehicles that represent the value of BTC. In July, the US Securities and Exchange Commission (SEC) rejected the Bitcoin ETF proposal by the Winklevoss twins, who filed an application for an ETF that based the price of BTC on a regulated exchange called Gemini. At the time, the SEC clarified that the cryptocurrency exchange market is not […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-frontpage.php","meta":{"footnotes":""},"class_list":["post-7","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/pages\/7","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/comments?post=7"}],"version-history":[{"count":0,"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/pages\/7\/revisions"}],"wp:attachment":[{"href":"https:\/\/gwam.ch\/en\/wp-json\/wp\/v2\/media?parent=7"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}