Swiss Town Accepts Bitcoin as Payment for Municipal Services
In the idyllic, sleepy town of Zug in Switzerland, a city council meeting today saw the authority decide to accept bitcoin as a valid payment for municipality services as a part of a pilot program. Already a burgeoning Fintech destination, the town of Zug in Switzerland (some call it Crypto Valley, with over 15 industry-relevant companies) is further endearing itself as the go-to destination for startups and companies in the bitcoin and blockchain industry by having its public set a welcoming example by adopting the cryptocurrency. In a report by local publication StadZug today, town mayor....
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The Swiss town of Zug has decided to continue accepting bitcoin payments for municipality services following a pilot that launched in July 2016. First announced in May, the picturesque lakeside town of Zug, also known as “Crypto Valley” for its embracive approach to Fintech, revealed a pilot program wherein it allowed bitcoin payments from its public for city services. A payment of up to 200 Swiss francs ($195 USD) in bitcoin was to be allowed. The pilot launched on July 1 and was scheduled to last until the end of 2016. At its conclusion, the City Council was to decide if Bitcoin or other....
It was early May when the Swiss town of Zug convened a city council meeting. By the end of it, bitcoin was accepted as a valid mode of payment for municipality services, part of a pilot program. Fintech-friendly Zug, a picturesque and serene town on the banks of lake Zug made headlines in May after gaining the distinction of the first municipality or locality in the world to accept bitcoin. The cryptocurrency was accepted by the city council as a part of a pilot program, enabling adopters and users to pay for municipal services with the cryptocurrency. The considerable media coverage that....
A town in Switzerland has begun to accept Bitcoin payments for certain city services. The northern town of Zug decided to allow Bitcoin payments earlier this month for public services as a part of a trial run. The municipality services will be capped at 200 francs worth of Bitcoin, and include services like public utilities. The trial run will extend through the end of 2016, and is intended to assess the long-term economic viability of accepting cryptocurrency for public services. Zug part of “crypto valley”. The canton of Zug, where the town of Zug is located, is home to what is known as....
After a few months of experimenting with bitcoin payments for municipal services, the City Council of ‘Crypto Valley’ Zug in Switzerland announced that the pilot program will become a permanent fixture with possible plans to expand. Bitcoin Payments a ‘Worthwhile Experiment’. Early May this year, Zug City Council decided to place bitcoin payment system on a pilot program to test the feasibility of bitcoin payments for municipal services. At current, the program has been used only by a dozen customers, allowing them to make train ticket payments with bitcoin up to 200 Swiss Francs’ worth.....
The town of Wetzikon will be using blockchain tech for targeted local business aid On Friday the Swiss town of Wetzikon -- formerly best-known for its idyllic pastures and churches -- launched a blockchain-based program to support small and medium-sized local businesses affected by the Coronavirus pandemic.Valued at 250,000 Swiss francs ($280,000), the initial aid disbursement will be funded with a municipal credit line earmarked for the Coronavirus and will be distributed to the roughly 25,000 inhabitants of Wetzikon in the form of an eCoupon worth 10 Swiss francs. Residents can access....