Crypto Valley In Switzerland To Test Blockchain Votingbr>
Zug, an affluent municipality and town in Switzerland known as Crypto Valley, will be conducting a blockchain-based municipal voting trial later this month.
The blockchain-based municipal voting trial will reportedly be Switzerland’s first municipal vote using the technology. The upcoming trial vote will utilize the city’s eID system, which was introduced in Zug in November 2017 by ethereum-based self-sovereign identity platform Uport. The eID system is currently in a pilot phase and counts around 200 users. It will allow citizens to vote using their smartphones.
Between June 25 and July 1, residents will be invited to take part in the trial. Participants will be asked to vote through the blockchain on a number of matters, including fireworks at the annual Lakeside Festival, the ease of use of digital IDs and which applications they would like to pursue – lending of books, payment of parking fees, lending of city bikes etc. As it is only a test, the results of the vote will be non-binding for city authorities.
“The survey is based on blockchain technology and is intended to serve, among other things, the review of security-relevant aspects (privacy protection, voting secrecy, immutability, testability and traceability),” the city government said. “It is a consultative vote, which gives the city council valuable information from the population. However, it is not legally binding like a proper referendum.”
Switzerland is known as a crypto-friendly nation due to both its establishment of the Crypto Valley and its status as a tax-free haven for crypto investors. According to a study released by blockchain conference BlockShow Europe 2018, Switzerland is ranked number one in a list of the top ten European countries for starting a blockchain company.
In January of this year, Switzerland launched a task force as part of its efforts to develop a regulatory framework on blockchain and initial coin offering (ICO). The task force was tasked to work with the State Secretariat for International Financial Matters and examine the legal framework on ICOs and blockchain companies.