Switzerland: University of Lucerne gets an institute for blockchain research
The Swiss canton of Zug is building a new center for "blockchain research" together with two Lucerne universities - at a cost of almost 40 million francs.
The new Blockchain Institute is to be based at the University of Lucerne.
(Image: Universität Luzern)
The small Swiss canton of Zug is investing almost 40 million Swiss francs (currently just under 41 million euros) in the establishment of a new center for blockchain research. The partners are the University of Lucerne, where the new institute is to be based, and the Lucerne University of Applied Sciences and Arts.
The region had already gained international recognition a few years ago when the Ethereum Foundation was established in Zug in 2014. In 2016, the city of Zug was the first authority in the world to accept Bitcoin payments.
Institute for blockchain research
Zug now wants to reposition itself as an internationally important center of the fintech industry by strengthening the region with innovative research in the field of blockchain technology. The canton is currently working with the University of Lucerne to establish the "Zug Institute for Blockchain Research", in which the Lucerne University of Applied Sciences and Arts (HSLU) is also involved.
The research is intended to take a broad approach and not be limited exclusively to technological issues. "We believe that blockchain technology has the potential to change many areas of our lives and we want to ensure that we are at the forefront of this development," argues Heinz Tännler, member of the Zug cantonal government and Director of Finance.
The Zug Institute's research will soon shed light on the impact of blockchain technology on society, the economy and politics. The aim is to promote blockchain research from a broader perspective, including aspects of the humanities.
First chairs advertised
The Lucerne University of Applied Sciences and Arts would like to contribute its expertise in the fields of computer science, finance and technology to the collaboration and strengthen its long-standing activities in blockchain research. The University of Lucerne will contribute the humanities perspective - for example aspects from sociology and philosophy, law, politics and macroeconomics.
The first job advertisements for nine new chairs in five different faculties have now also been published. Applicants are initially being sought for seven professorships, for example "Political Science and Blockchain" or "Energy Law and Blockchain". The job advertisements for the Chairs of Health and Blockchain and Psychology and Blockchain are to follow.
A cooperation and communication platform for the new Zug Blockchain Institute, a so-called hub, will also be created. Since blockchain and cryptocurrency activities began in Zug- earning the city and canton the name "Crypto Valley" - this financial ecosystem has grown steadily and now covers areas in many parts of Switzerland (such as the cantons of Zurich, Ticino, Geneva and Lucerne).
In January 2023, the Zug-based investment firm CV-VC AG published a study according to which the top 50 blockchain and crypto companies in "Crypto Valley" alone had a total value of USD 185 billion at the time. Nine so-called "unicorns" were located in the region, i.e. start-ups with a market valuation (before an IPO - or before an exit) of over one billion US dollars. The report counts a total of around 1100 Crypto Valley companies with a total of almost 6000 employees.
(dahe)