Crypto corner

Recently, we took a bold step into the digital art realm by tokenizing the unique piece "Dreamstime" by Sarah Benslimane for our employees. This pioneering move marks a significant stride in the evolution of wealth management, underscoring our commitment to innovation. In this article, we delve into the visionary collaboration between Bank Syz and the talented artist Sarah Benslimane.

Among the hot topics discussed at the Bitcoin 2022 Summit in Miami was the Lightning Network, a blockchain overlay that allows off-blockchain transactions and which is expected to enable bitcoin to become a common form of payment.

Crypto traders have had to hold on to their seats lately, as they watched their investments dwindle. While NFT holders could have expected a similar fate in the first weeks of the year, their niche has actually continued to grow against odds and expectations. In our latest Focus, we look at how a world of punks and monkeys made its way into the mainstream to become more resilient than one would have thought.

According to an index provided by Cambridge University’s Centre for Alternatives Finance, Bitcoin mining requires twice the electricity consumed in Switzerland in 2020, or 129 TWh (source : Enerdata). Ethereum, for example, uses about 31 TWh per year.

An energy crisis and civil unrest threaten the viability of crypto mining in Kazakhstan, the world’s second-largest center for bitcoin mining after the United States.