Zug, Silicon Valley of Cryptocurrency, to Test Election on the Blockchain
- The results of the vote are not binding, but the impact of the test could be significant.
Zug, the small city in Switzerland that has gained the reputation of being the Silicon Valley of cryptocurrency, is to test using Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology to organise elections this summer, according to swissinfo.ch.
Between the 25th of June and the 1st of July, voters will be able to vote using blockchain technology on a number of relatively trivial issues, namely their opinion on fireworks at an annual festival and whether digital ID should be implemented at local libraries. They will also be asked their opinion of the blockchain voting system.
The voting process will be facilitated by the eID system which is in use in the city. This system was implemented in November 2017 and is unique because it runs on a blockchain. Once registered, residents can access city services (such as the tax, employment, road traffic and child protection departments) through their electronic devices because the city is also registered on the same blockchain. It is through this system that residents will be able to vote using their mobile phones.
This is only a test, and so the results will not be binding. It should also be noted that the eID system only has about 200 users at the moment. However the test is significant because Switzerland is one of the world's wealthiest countries and Zug specifically punches above its weight in terms of influence in the cryptocurrency world because of the Crypto Valley Association, an organisation that promotes blockchain technology by facilitating research, organising industry events and providing networking opportunities to startups. It was created in March 2017 by a coalition of companies including Thomson Reuters, UBS, and PricewaterhouseCoopers.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has been accepted as payment in the city since 2016, and Ethereum has its headquarters there. In January of 2018 Bitmain, a Chinese company that was at the time responsible for over 40 percent of the world's Bitcoin mining, set up a subsidiary in Zug.
If the city council eventually decides to have its actual elections via blockchain, this could set a far-reaching precedent. In addition to this, a wider transition to blockchain technology in Switzerland would not be too daunting because thousands of Swiss citizens are already using electronically registered IDs.
Zug, the small city in Switzerland that has gained the reputation of being the Silicon Valley of cryptocurrency, is to test using Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology to organise elections this summer, according to swissinfo.ch.
Between the 25th of June and the 1st of July, voters will be able to vote using blockchain technology on a number of relatively trivial issues, namely their opinion on fireworks at an annual festival and whether digital ID should be implemented at local libraries. They will also be asked their opinion of the blockchain voting system.
The voting process will be facilitated by the eID system which is in use in the city. This system was implemented in November 2017 and is unique because it runs on a blockchain. Once registered, residents can access city services (such as the tax, employment, road traffic and child protection departments) through their electronic devices because the city is also registered on the same blockchain. It is through this system that residents will be able to vote using their mobile phones.
This is only a test, and so the results will not be binding. It should also be noted that the eID system only has about 200 users at the moment. However the test is significant because Switzerland is one of the world's wealthiest countries and Zug specifically punches above its weight in terms of influence in the cryptocurrency world because of the Crypto Valley Association, an organisation that promotes blockchain technology by facilitating research, organising industry events and providing networking opportunities to startups. It was created in March 2017 by a coalition of companies including Thomson Reuters, UBS, and PricewaterhouseCoopers.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has been accepted as payment in the city since 2016, and Ethereum has its headquarters there. In January of 2018 Bitmain, a Chinese company that was at the time responsible for over 40 percent of the world's Bitcoin mining, set up a subsidiary in Zug.
If the city council eventually decides to have its actual elections via blockchain, this could set a far-reaching precedent. In addition to this, a wider transition to blockchain technology in Switzerland would not be too daunting because thousands of Swiss citizens are already using electronically registered IDs.