Bitcoin at 10 – Money in a World of Tokens

On this very day ten years ago – January 3, 2009 –, the Bitcoin network went live. Bitcoin’s first block, the Genesis Block, includes a short message as a reminder that the world was, at the time, finding itself in the midst of the biggest financial crisis since the 1920s. The message refers to the […]

Switzerland’s Financial Market (De-)Regulation in the Age of FinTech

Financial market regulation has become a hot topic: With the advent of “FinTech”, startups building their novel business models flock to jurisdictions that offer them the best regulatory environment. Switzerland’s reputation as a crypto-friendly jurisdiction has awarded the country the title „Crypto Nation“[1]. On the other hand, while not being as welcoming to crypto businesses […]

Negative interest rates and the redistribution of…

The background Negative interest rates are currently a hot topic. Mainstream economists consider them necessary since overall public debt levels are at historic highs (as a result, monetary policy has continuously adopted the goals of fiscal policy), the stability of the financial system is fragile due to high-risk assets in the balance sheets of banks […]