Switzerland is well-known for its highly developed fields of science and technology. This is a country that is constantly present in the top 20 for the output of scientific research. They have sent technology into space with the miniature motors that power the Mars exploration rovers. CERN is also located there, making Switzerland one of the biggest research and development centers in the world.
CERN is the abbreviation derived from the French name of the European Organization for Nuclear Research. The organization operates the biggest laboratory for particle physics in the world.
It is clear that this country is one of the key places where innovations are born after years of hard work and thanks to brilliant minds. The concentration of foreign researchers is also very high there. But for what else is Switzerland known?
Banking. Banking in the country is held with high regard especially because of the bank secrecy it became famous for. It is also one of the countries with the most stable currency, the Swiss franc (CHF). More than 5% of the total workforce of Switzerland is concentrated in the banking sector.
The quickly developing technological sector and the financial proficiency of the country has given way for the creation of sophisticated trading tools as well. Trading and financial technology are two worlds that Swiss nationals have perfectly combined in investment platforms and systems like the state-of-the-art HBSwiss software.
How Is Swiss Banking so Renowned?
The country became well-off and can provide stability for capital because of its history of neutrality. This has created a reliable environment where banks operate and develop in the conditions of security, safety, and stability.
These factors have helped the Swiss franc become one of the major currencies along with the US dollar and the euro. It is one of the safe havens you can rely on, because it is not as dependent on foreign economies and global market conditions. This is also due to the fact that Switzerland has one of the largest gold reserves in the world.
The Major Currencies
The so-called Majors are the most traded currencies under the currency pair derivative on the forex market. These include the Euro, the US dollar, the British pound, the Japanese yen, the Australian dollar, the Canadian dollar, and the Swiss franc.
Swiss Technology & Finance
It is only natural to ask ourselves the question if Switzerland is so good at technology and innovations, are they making revolutions in financial technology? The answer is yes. They are quickly and efficiently digitalizing financial sectors for the provision of more effective services at lower costs.
Did You Know?
Apart from starting to rely on blockchain technology, the Swiss banking system has given cryptocurrencies a chance. Private banks have established initiatives to maintain and offer bitcoin assets. Additionally, the Chiasso municipality is going to accept tax payment in bitcoin as of January 2018.
It becomes quite clear that the investment world will not be passed by Swiss innovations. As I mentioned above, the country’s professionals have taken up to create innovative and sophisticated systems for online investments like the HBSwiss software in order to provide ordinary people with access to the huge trading industry.
By all means, Switzerland is a leader in both financial development and technological innovations. And it intends on keeping that position. Almost anything that bears a Swiss trace is sure to be of top-quality.