Zug/Lucerne - Crypto Valley in the canton of Zug is being developed as an international center for blockchain research. The cantonal government of Zug is to contribute a total of 39.35 million Swiss francs to the Blockchain Zug – Joint Research Initiative of the University of Lucerne and Lucerne University of Applied Sciences and Arts.

The government council of Zug wants to make the canton of Zug the world's leading center for blockchain research. It plans to support the Blockchain Zug – Joint Research Initiative of the University of Lucerne and Lucerne University of Applied Sciences and Arts (HSLU) with start-up funding totaling 39.35 million Swiss francs, announced a statement.

The payments, spread over a period of five years, will be financed entirely from the revenues of supplementary tax. It is a move the government council has designed to compensate for the location’s losses resulting from the OECD minimum tax.

The government council has proposed to the cantonal council the establishment of a nine-chair Zug Institute at the University of Lucerne, as well as a reinforcement of Lucerne University of Applied Sciences and Arts’ existing research activities. There are also plans to create a cooperation and communication platform, or a so-called hub.

The Blockchain Zug – Joint Research Initiative has the goal of anticipating developments in blockchain technology and their impact on business and society. According to a statement from the university, the HSLU is contributing its expertise in technology, computer science and finance, while the University of Lucerne offers a humanities angle, with law, politics and sociology.

We believe blockchain technology has the potential to transform many areas of our lives, and we want to make sure we are at the forefront of that change.
Zug soll Zentrum für Blockchain-Forschung werden
Heinz Tännler - Finance Director and Government Councillor of the Canton of Zug

“Blockchain technology has the potential to change many areas of our lives, and we want to be at the forefront of that change," commented Finance Director Heinz Tännler. "In this way we are further strengthening Zug as a business location, especially because with this educational project we are investing in areas that are already established in the canton of Zug." ce/mm

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