Swiss Municipality to Utilize Blockchain Technology

Switzerland is about to utilize blockchain technology for a municipal vote in the city of Zug. Swissinfo.ch, a local media outlet, announced on June 8th that the vote would occur between June 25th and July 1st. The vote will utilize the digital ID, also known as eID, system that debuted in November of 2017 for Switzerland's citizens. The technology allows citizens to vote in the election using their mobile devices, eliminating the need to go to the polls to cast a vote. The poll also includes a question asking citizens if they want blockchain to expand from minor municipal issues to referendum votes in elections scheduled in the future. Swissinfo.ch reported that the vote is only a trial, and city authorities are not bound to the results since the concept is new and not fully embraced by many countries across the globe. Zug is one of the largest cities for blockchain, ledger, and crypto technology development. The “Crypto Valley” embraces blockchain technology. Two years ago, in 2016, Zug decided to allow Bitcoin or BTC payment as an option to pay for some municipal services for its citizens. Since Switzerland is where Crypto Valley is located, the country is listed as one of the most crypto friendly nations in the world. The country is ideal for investors in the cryptocurrency market because they don’t have to pay taxes on their investments, drastically increasing the potential for maximum profit. June 6th marked another first in the crypto world in Switzerland. A private bank, Hypothekarbank Lenzburg, established itself as the first bank to offer cryptocurrency and blockchain companies business accounts. It appears that the innovation and friendliness towards blockchain in Switzerland make it the place to watch for further developments in the crypto world. Who knows what will come next for crypto, especially if more countries decide to utilize the technology to innovate.