Switzerland’s progressive blockchain center in Zug is going to conduct the first blockchain-based test vote later this month, reports Coinspeaker.
In 2016, Zug was the first city in the world to accept Bitcoin (BTC) as payment for certain municipality services, and also established ‘Crypto Valley’, a not-for-profit association supporting the development of blockchain and cryptography-related technologies and businesses.
One reason for Switzerland’s success as a center for blockchain and fintech, according to Swiss law firm MME, is the country’s openness to new business concepts and innovation. Marin Eckert MME partner said, “Swiss regulators are among the few that really have a deep understanding of the technology and how it works.”
Bitfinex, the fifth-largest cryptocurrency exchange by 24-hour trading volume, planned to leave its current base in Hong Kong and relocate its resources to Switzerland in March of this year.
The trial blockchain-powered vote will utilize Zug’s eID system voting on minor issues and the future of the ID system itself. Some of the municipal services that the public will be asked to vote on include annual fireworks displays, digital ID library lending, digital entry ID parking fees and electronic tax returns.
Owners must be in possession of a digital ID in order to place their yes/no votes which will be held on 25 June. The eID system was established in November 2017, but at this stage only includes 200 users who registered in a pilot for payment of municipal services last year. Registered voters can get their voices heard by downloading the uPort app to smartphones and then submitting their vote electronically.
Zug is not alone in Switzerland in term of its blockchain- and cryptocurrency-friendly projects, and utility payment facilities, as it has a rival in the southern Swiss-Italian border town of Chiasso, which announced earlier this year that it planned to take Bitcoin to settle up to CHF 250 (Swiss francs equivalent to USD 265) of tax bills starting from January 2018.
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