Switzerland’s City Zug to Run Blockchain Based Elections

Switzerland’s City Zug to Run Blockchain Based Elections

Blockchain is finally solving the critical nature of elections. The Swiss City of Zug will use Blockchain technology in their municipal elections this summer. It will take place between June 25th and July 1st, and if Blockchain does end up being successful in a highly developed nation like Switzerland, it could enter the mainstream election process.

The first election through Blockchain was on March 7th, 2018 in Sierra Leone. It was, in fact, a Swiss foundation, called Agora that offered the digital voting solutions using blockchain. Blockchain was used to ensure that transparency was maintained so that the whole election process was trustworthy and not rigged.  It was a pretty straightforward use of public ledgers to record each vote.

In the system used in Zug, Switzerland it was a blockchain based eID system, and citizens will then also vote on if this voting method should be used for future more prominent elections.

Zug has proven to be one of the major hubs in Blockchain technology. It also has a ‘Crypto Valley’ named after ‘Silicon Valley’ in the United States. In Zug, Bitcoin is already used for certain municipal payments.

Switzerland always creates a path in pushing countries to more innovative financial solutions. Hence being tax-free on cryptocurrencies, they have shown what benefits can be drawn. Banking systems such as the Hypothekarbank Lenzburg bank offers business accounts easily to blockchain and cryptocurrency related companies.

Switzerland’s Zug is competing with Malta in defining to become the next ‘Silicon Valley’ for Blockchain and Cryptocurrency. With elections already underway, Switzerland might, but Malta is competing fiercely. Binance has also announced its operations to move to the Mediterranean island.

Both countries are beautiful, with amazing innovation. The only thing left now for Malta is to conduct an election using Blockchain to match up to Switzerland’s mainstream push of the technology into politics.

Image Source: “Flickr”

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