Blockchain & ICOs

Blockchain developers are at a premium in Switzerland, commanding salaries up to $180,000, as the country establishes itself as a centre for companies carrying out initial coin offerings (ICOs).

Switzerland establishes itself as a centre for companies carrying out initial coin offerings (ICOs). Blockchain developers are at a premium in the country, controlling salaries almost $180,000.

Thomas Bertani, the CEO of Switzerland-based Eidoo, told Business Insider that developers with expertise in blockchain technology, which underpins ICOs, can command salaries of around $10,000 to $15,000 a month in Switzerland, equivalent to $120,000 to $180,000 a year.

The reason of high prices is that it’s hard to find highly experienced blockchain specialists. Besides, Switzerland is recognized as one of the most expensive countries on earth.

Oliver Bussmann, the president of the Crypto Valley Association in Zug, Switzerland, told Business Insider over email that the salary estimates sounded about right.

Switzerland has seen a surge in blockchain companies setting up shop there thanks to the permissive approach of its regulator to initial coin offerings (ICOs).

ICOs are the place to issue digital tokens in exchange for real money, which helps funding their business. Companies can self-issue these tokens and most use the blockchain underpinning digital currency ethereum to register who has bought tokens.

This new form of fundraising has got over $3 billion financial measures, mostly inspired by bitcoin. The regulators worldwide are suspicious, because it is still unregulated. For example, China and UK have warned investors to careful of investing.

Switzerland, meanwhile, has sought to become a hub for this new type of investment, which some see as the future of fundraising.

Most companies who have pursued ICOs this year tend to be linked to either cryptocurrency or the blockchain technology that underpins it and this has pushed up the salary of developers in the country. As a result, Bertani said it has become “almost impossible” to find good blockchain developers there as companies flush with ICO cash pay higher and higher salaries to attract talent.

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