2B4CH, a Swiss non-profit research organization that helps the country explore cryptocurrencies like Bitcoin (BTC) and blockchain technology, is launching an initiative that could make Bitcoin a reserve for the country.
On Friday, the association announced plans to launch a grassroots federal initiative, collecting 100,000 signatures, to introduce bitcoin into article 99, paragraph 3, of Switzerland’s federal constitution.
In particular, the initiative proposes adding bitcoin to the list of assets of the Swiss central bank, which would change the constitutional provision to: “The Swiss National Bank should create sufficient foreign exchange reserves from its income; some of these reserves will be held in gold and bitcoins. ”
Whether the vote was successful doesn’t really matter, as the initiative aims to collect signatures to submit the proposal to Swiss citizens for a vote, 2B4CH founder and president Yves Benheim told Cointelegraph.
“If the signatures are successfully collected, voting should be conducted legally, as well as discussion and debate, and finally, to better inform and educate everyone in Switzerland and, hopefully, the world, and also to be an example,” Benaim said. He noted: “We hope that the vote will be successful, but even if it is not, it will already be successful if the topic is brought up for public comment.”
If the vote is successful, the Swiss National Bank or Swiss National Bank must learn to add bitcoins to their reserves, which will do so in the “best and safest way”, making Switzerland one of the world’s leading economies and industries that benefit the economy. – explained Benaim. Many levels adding:
“This addition to the Constitution will affect the people of Switzerland in the same way that Silicon Valley and the London Stock Exchange serve the people of their country.”
Benaim said 2B4CH is still in the early stages of the project and is currently testing potential interest in the initiative. The next step involves submitting the project to the consortium and formally collecting signatures. “Once this phase is successfully completed, it will take months or even years for a vote to actually take place,” Benaim said.
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2B4CH is an independent non-profit association founded in Geneva in 2017 that studies the social and economic transformations that Bitcoin and blockchain technologies bring, and the impact of decentralized cryptocurrencies. The think tank currently has fewer than 20 members 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: in 2016, the canton of Zug controlled bitcoin payments for public services. Last month, the Swiss Financial Markets Authority approved the country’s first cryptocurrency following the approval of SIX Swiss exchange launches. digital real estate market.