Crypto Valley Startup Takes on Swiss Banking System With Blockchain
Swiss banking is getting a personal Blockchain competitor in the form of Smart Valor from Xapo’s Olga Feldmeier.
A managing partner of Xapo is looking to use Blockchain to reinvent the age-old Swiss banking industry.
In a press release about her Smart Valor project released on Thursday, Olga Feldmeier, who oversaw Xapo’s licensing and move to Switzerland, sees an opportunity for smart contracts to disrupt.
“[The] Swiss legal framework—in which security and client confidentiality have long been key cornerstones—is predestined to become a home base for crypto finance disruptors,” she said.
Smart Valor aims to build a “disintermediated network of investors, asset issuers and funds as well as facilitators” to provide a Blockchain-based alternative to traditional, exclusive banking models.
“Building on the Swiss legal framework, SMART VALOR aims to combine privacy and security of a leading offshore banking center with the accessibility and diversity of the blockchain-based open network,” the press release continues.
Feldmeier is part of the Crypto Valley initiative, a Zug-based group of resident Bitcoin and Blockchain businesses aiming to create the best conditions for the disruptive technology to flourish in the country.
“For a long time, a diverse investment space with assets kept in a stable and reputable jurisdiction, reasonably well-shielded from political or inflationary uncertainties—this used to be the exclusive privilege of the very rich and powerful. Today, the technology and regulatory transformation gives us the opportunity to change this,” Feldmeier added.