Switzerland is first in the crypto adoption ranking in Europe in 2023, with a rate of 21%, well above the European averages.
Summary
Crypto adoption: Switzerland achieves 21% rate and is first in Europe in 2023
Switzerland achieved the highest rate of cryptocurrency adoption in Europe in 2023, positioning itself first in the rankings.
This is a 21% crypto adoption rate in the Neutral State, compared to 19% and 17% in the Netherlands and Norway, placed second and third respectively.
That ranking was revealed by BitcoinCasinos.com, which pointed out that Switzerland comes in with as much as 2 times more crypto adoption than the UK, Germany or France.
And indeed, the UK and Germany have reached a 12% cryptocurrency adoption rate by 2023, while France and Italy follow with 11% respectively.
This figure underscores how Switzerland holds a favorable regulatory framework for the crypto sector, attracting so many blockchain enthusiasts and cutting-edge infrastructure. Not coincidentally, the canton of Zug is home to the very crypto-valley that welcomes startups, entrepreneurs and crypto-communities.
Crypto Adoption: Switzerland and the reset of rules in the crypto-valley
In the first part of 2023, more precisely in March, Switzerland’s crypto-valley wanted to implement a major reset of its rules, partly in response to the many unfortunate events that had characterized the sector.
One only has to think of the consequences stemming from the collapse of the FTX crypto-exchange, which began in November 2022, and the strong and long crypto winter that seems to have lifted precisely as of this year.
In this regard, it was Dirk Klee, head of Bitcoin Suisse, who had listed the unfortunate events in the crypto sector, and emphasized that all of them had been only the result of bad decisions and not technological problems.
Hence, the crypto valley revised its position precisely in terms of the institution, vis-Ã -vis the more than a thousand cryptocurrency and blockchain startups that exist on the ground.
Thanks to these overhauls, the crypto-valley is being awarded to be that place where the climate is conducive to these types of investments, partly due to the favorable tax rates, hospitable political environment and favorable legal infrastructure.
Not only that, the dedicated cryptocurrency region even accepts tax payments in Bitcoin (BTC) and Ethereum (ETH).
An interest also in ChatGPT and Artificial Intelligence
Apparently, Switzerland is emerging not only for crypto adoption, but also for explosive interest in ChatGPT and Artificial Intelligence (AI).
In fact, a study published last April revealed that there were 3700% increases on Google searches related to OpenAI’s project.
For instance, the canton of Ticino ranks 18th in terms of interest on ChatGPT, with a score of 53. Those who dominate this Swiss ranking, on the other hand, are the three cantons of Geneva, Zurich, and Basel, which ranked on the podium with 100, 93, and 91 points, respectively.
To get an idea, these figures far exceeded the searches on Swiss soil regarding the World Cup and iPhone 14.
Swiss Post and the launch of Crypto Stamps 3.0
Earlier this May, the Swiss Post launched Crypto Stamp 3.0, using AI.
Indeed, it is a third version of the collection of stamps in their physical and digital formats, involving NFTs.
Not only that, the designs for these stamps were created by visitors to the Swiss Digital Days in 2022, using an AI system trained to produce images, creating templates for this new series.
Crypto Adoption in 2024: Slow Progress at Norway’s New Online Casinos
In Norway, the integration of cryptocurrency has been a slow but steady process across various sectors. However, this trend has not uniformly impacted all industries.
Particularly, new online casinos in Norway have witnessed a distinct hesitancy in adopting cryptocurrencies. Norwegian players, who are traditionally more familiar with fiat currencies, continue to show a strong preference for these conventional forms of money in their online gambling activities.
This reluctance in embracing digital currencies at new online casinos underscores the complexities and challenges of introducing innovative financial technologies into well-established sectors.
Despite the broader acceptance of cryptocurrencies in other areas, the online casino realm in Norway remains a stronghold of traditional monetary practices, highlighting the varied pace of crypto adoption across different industries.
