Crypto Valley’s Zug to Run Switzerland’s First Blockchain-Based Municipal Vote

The Swiss town of Zug will conduct a blockchain-driven trial municipal vote this summer months, nearby media outlet claimed June 8. The function, which is scheduled to consider location amongst June 25 and July 1, will reportedly be Switzerland’s first municipal vote employing blockchain.

In accordance to the report, the impending trial vote will put into action the city’s electronic ID (eID) procedure that was introduced in November 2017. The procedure will enable citizens to vote by way of their cellular devices.

Apart from voting on minimal municipal issues, citizens will also be requested if blockchain-primarily based eID procedure need to be employed for referendum votes in the upcoming. Considering the fact that the impending vote is a trial, its success will be non-binding for town authorities, studies.

Having proven “Crypto Valley”,  a world-wide hub for crypto and blockchain progress, Zug has become 1 of the facilities of “world’s foremost ecosystems for crypto, blockchain, and distributed ledger systems.” In 2016, Zug introduced an initiative accepting Bitcoin (BTC) as payment for particular municipality services.

Thanks to the existence of “Crypto Valley” and the country’s tax-free policy for crypto traders, Switzerland is reportedly the selection 1 most blockchain-welcoming region in Europe.

On June 6, the privately held Hypothekarbank Lenzburg financial institution, became the first financial institution in Switzerland to give small business accounts to blockchain and cryptocurrency businesses.

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