Blockchains and Swiss Law

The team of Burkhard Stiller and Rolf H. Weber - both are associated with the Blockchain Center UZH (BCC UZH) - decided to provide an NZZ Guest Comment on blockchains and the Swiss law: "Blockchain: für eine technologieneutrale Gesetzgebung" (in German).

As it appeared on July 5, 2019 in the Neue Zürcher Zeitung NZZ, the core message is: Technological openness on new developments pays off for Switzerland; technological dependencies of Swiss law is considered a drawback. Thus, technologically neutral law in the context of modern blockchain developments is the key, since tokens -  generated and maintained by blockchain and distributed ledger approaches - are proposed to be attached to the Swiss law on securities (Wertpapierrecht), as a report to the Swiss Federal Government (Bundesrat) suggests. Since tokens represent an economic value, the application of Swiss property law (Sachenrecht) does not seem to be indicated. This is mainly due to the fact that the token as such does not inherently carry value, as an object (e.g., property) would do, it just represents value (e.g., a crypto-coin).

Muriel Figueredo Franco