Founding a business in Switzerland is a hassle.
A blockchain-enabled founding process enables easy and fast incorporation.
What’s the problem you’re trying to solve?
Out of 138 countries, the World Economic Forum ranked Switzerland 54th and 56th, respectively, when it comes to the number of regulations and days to start a business. This is largely due to the numerous involved banks, lawyers and the commercial register, and the exchange of paper documents amongst these parties.
What are your goals and milestones?
The first milestone will be realizing a commercial registry Minimum Viable Product (MVP) on a blockchain, which ensures quick paperless business incorporation by September 2017. By April 2018 the incorporation of companies in Switzerland will be a digital process and by April 2019, the life cycle of companies will be digitally represented, securing Switzerland’s pole position as one of the most competitive countries.
What’s your approach?
The digitization of the incorporation process using blockchain technology could significantly increase registration speed and efficiency by ensuring the highest security between the sender and receiver of the documents.
What’s the impact you’re aiming for?
The accelerated company founding process would assure Switzerland’s economic competitiveness. On top of that, the use of a blockchain-based process in the formation of companies would guarantee higher legal certainty.