Ethereum

‘Crypto Valley’ offers digital identities to its citizens

Crypto Valley, Zug, Switzerland
(C) iStock.com/photogreach

The Swiss town of Zug, dubbed ‘Crypto Valley’, will offer all of its citizens a digital identity on the Ethereum blockchain.

The town, which has a population of around 30,000, has become famous around the world for its early and passionate adoption of cryptocurrencies. The town even trailed the use of bitcoin for payments for government services last year.

The town has proved attractive to blockchain and cryptocurrency enthusiasts and entrepreneurs who like the business environment and tech-savvy citizens.

In a press release on its official website, the town has stated its plans for a desntralised identity system, to be made available from September.

Digital identities

The Ethereum-based digital indentity system is being developed by Consensys (who are based in Zug), the Institute for Financial Services Zug and ti&m.

The Zug system will be based around an app that secures an individual’s information on a blockahin and then assigns it a crypto address. Citizens will register independently on the app and then have their details verified using the town’s own identity control procedures.

In a statement, the mayor of Zug, Dolfi Muller, said:

“We want a single electronic identity — a kind of digital passport — for all possible applications. In our city, we do not want this digital ID to be centralized but on the blockchain. We only verify and confirm the identity of a person.”

The statement is interesting because the Swiss government is currently trying to develop a centralised digital ID solution. The Zug press release calls this a failure due to its complicated nature and that such systems are “technically considered obsolete” in today’s tech landscape.

 

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1 Comment

1 Comment

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