In November 2017, blockchain startup Smart Valor raised its goal 1,500,000 Swiss Francs ($1.5m USD) with ease. Their ambition? To revolutionize one of the world’s oldest and most well-established banking systems: Swiss Banking.
Smart Contracts – Smarter Banking
Now, Swiss banking is already considered to be one of the world’s most secure. The reason behind this is that, as a market, it predominantly caters to wealthy people and those who value the privacy of their assets. However, it is not necessarily the security that Smart Valor are so focused on. Rather, they are looking to break down the barriers to Swiss banking caused by the reputation that is attached to it. They are looking to make Swiss banking accessible to everyone – not just the super rich.
The Swiss Experience, but Worldwide
The project from Smart Valor is being overseen by Olga Feldmeier. Amongst other things, she oversaw the move of Xapo to Switzerland, and is a member the Crypto Valley Initiative. According to their website, they are looking to build a “disintermediated network of investors, asset issuers and fund”. They will be using distributed networks and smart contracts with a view tokenizing real estate and other assets. Through the use of blockchain tech, they will also be opening up the banking system to the world, while still adhering to Swiss financial law. Of course, customers would also benefit from the revolutionary data security afforded by blockchain technology.
To sum up then, Smart Valor are offering a Swiss banking experience in terms of quality and security, with the added benefit of a smart contract, blockchain-based, decentralized environment. This would be no mean feat, and an extremely interesting prospect. 2018 is going to be a big year for Smart Valor.