Blockchain developers in Switzerland are in high demand, with many on salaries amounting to as much as $180,000 a year.
It seems that having the necessary skills in the technology is where the money is at. So much so, that according to Thomas Bertani, the CEO of Swiss-based Eidoo, developers can demand as much as $10,000 to $15,000 a month in the country, amounting to $120,000 and $180,000 a year, reports the Business Insider.
The reasons are: 1) highly skilled blockchain-experienced devs are very hard to find; and 2) Switzerland is well known to be one of the most expensive countries on earth.
Not only that, but Switzerland is greatly considered as one of the most forward thinking countries for digital currency and blockchain development. The Swiss nation is also quickly becoming a hotspot for companies that are keen to perform initial coin offerings (ICOs), which are banned in China and warned against in the U.S. and the U.K.
Despite this, though, Switzerland considers ICOs as a new type of investment, with many embracing it to raise funds for their various ventures. According to the Crypto Valley Association, with its headquarters in Zug, which is known as the country's 'Crypto Valley,' it lists more than 100 members - individuals and organisations - that have set up their operations in the Swiss country.
However, according to Bertani, it's 'almost impossible' to find good distributed ledger developers due to the fact that ICO companies with enough cash to splash tend to attract the developers with higher paid salaries.
In February, it was reported that Switzerland was going one step further to make itself even more attractive to potential businesses. In order to achieve this Switzerland's Federal Council announced that it was reducing the fintech market entry barriers, designed to enhance the Swiss financial centre's competitiveness.
The country has, in the past, stated that with bitcoin it would be sending a message to the world: that it aims to be at the forefront of future technologies. With the fintech sector rapidly expanding Switzerland's Federal Council stated, in February, that some business models may require future regulatory adjustments, adding:
Due to the rapidly progressing digitisation in the financial sector, in particular in the blockchain area, it can be assumed that business models will develop which are not yet conceivable today. The Federal Council will follow these developments closely also in the future and will swiftly propose the necessary regulatory adjustments if required.
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