Switzerland is one of the European countries that has shown considerable interest in digital assets since the beginning of the phenomenon. If in the so-called "Cripto Valley" between Zug and Zurich the Ethereum was born, considered the true counterpart of Bitcoin, other parts of the confederal territory have long moved their steps in order to equip themselves with virtual uniforms, starting from the Canton of Vaud, the one in which the city of Lausanne is included, where the Leman is in vogue.
Over the last few months, however, it has been the Canton of Ticino that has been activated for the launch of a stablecoin, or a virtual currency anchored to a fiat currency, in this case the Swiss franc, in order to avoid the typical fluctuations of cryptocurrencies not subjected to a similar anchorage. The name of the token is Ticino Coin and the cantonal authorities are now pressing on the Council of State, or the governing body of the cantons, in order to have the authorization to coin it.

The second Swiss Cryptovalley

In the last hours that preceded the closure of the legislature, the Council of State actually saw the delivery of a parliamentary question with which a group of local stakeholders asked for support in order to create a complementary local currency based on Blockchain technology. The basic idea is to focus on the digital economy to revitalize the Canton of Ticino, through the creation of innovative companies that could contribute to job creation in a moment that is not very happy. The reference is precisely what happened with the Ethereum, which allowed Zug to count on hundreds of startups linked to digital assets and to witness the birth of a digital ecosystem capable of acting as a reference point for local entrepreneurs and talents.

The unanimous support of the parties

The project, which is being discussed with great fervor, practically took its first steps in 2014, managing to make local politics converge from the start, practically complete. To give particular interest to the plan is the fact that the Canton Ticino represents a State in all respects and as such has its own central bank, the BancaStato del Cantone, to which, in the most popular hypothesis at the moment, the task should be entrusted to act not only as a depositary bank, but also to be the issuer of TicinoCoin itself, thus assuming the burden of processing the paperwork that would be linked to the issuance of tokens. It would be to all intents and purposes of the first time that a sovereign state would issue a digital currency through its banking institution.
Now all that remains is to observe the developments of the Ticino experiment, in support of which the "Ticino Coin" association was also founded, in which local producers and traders with a series of ethical requirements considered indispensable can participate. One of the major promoters of the project, Michele Fiscalini, proceeded to operate the computer that was given the task of creating the virtual currency on Wednesday 19 June at 11.11.