Swiss think tank starts voting to add Bitcoin to federal constitution

Successful or not, the vote will provide crypto education to people who are not yet Bitcoin savvy, the 2B4CH founder said.

2B4CH, a Swiss nonprofit think tank that helps the state explore cryptocurrencies like Bitcoin (BTC) and blockchain technology, is launching an initiative that could make Bitcoin one of the country’s reserve assets.

On Friday, the association announced plans to start a popular federal initiative by collecting 100,000 signatures for the introduction of Bitcoin in article 99, clause 3 of the Swiss federal constitution.

The initiative specifically proposes adding Bitcoin to the list of assets held by the Swiss central bank, which would change the constitutional clause to: “The Swiss National Bank will create sufficient foreign exchange reserves from its income; part of these reserves will be held in gold and Bitcoin. “

Whether the vote is successful is not really relevant, as the initiative focuses on gathering signatures for this proposal to be presented to Swiss citizens to vote, 2B4CH founder and president Yves Bennaim told Cointelegraph.

“If the firms are to come together successfully, the vote will have to take place legally, as well as the conversations and debates, better informing and educating everyone in Switzerland and hopefully around the world, as we set the example,” said Bennaim. . “We hope the vote will be successful, but even if it is not, it will already be a success if the issue is brought up to public debate,” he noted.

If the vote is successful, the Swiss National Bank, or SNB, will need to learn how to add Bitcoin to its reserves, keeping it in the “best and safest way,” which would make Switzerland one of the world’s leading nations in the industry. and benefit its economy on many levels, Bennaim said, adding:

“Such an addition to the constitution would affect the people in Switzerland in a similar way, to: Silicon Valley and the London Stock Exchange that have benefited the people of their respective countries.”

According to Bennaim, 2B4CH is still in the preliminary stage of the project, and is now testing potential interest in the initiative. The next steps include presenting the project to the confederation and officially collecting signatures. “When this phase has been successfully completed, it will be months or even years before the vote takes place,” Bennaim said.

Founded in Geneva in 2017, 2B4CH is an independent non-profit association that studies the social and financial transformations brought by Bitcoin and blockchain technology, as well as the impact of decentralized cryptocurrencies. The expert group has fewer than 20 members so far and does not accept donations to protect its independence and the privacy of its members.

Switzerland has become one of the most crypto-friendly countries in the world, and the canton of Zug put Bitcoin payments for public services to the test in 2016. Last month, the Swiss Financial Market Supervisory Authority approved the country’s first crypto fund after authorizing the SIX. Swiss Exchange to launch a digital asset market.


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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