Winning Big in Blockchain - Switzerland and Hong Kong


Blockchain's claim
to fame is Bitcoin. While it's going to be its most well-known application, the
interest in the technology continues to expand as countries like Switzerland
and Hong Kong are becoming onboard.
Beyond Bitcoin
Blockchain offers a mess of applications
across industries. The immutable and decentralized nature that makes it
virtually robust poses a great advantage in handling a big amount of knowledge
during nationwide elections. The Swiss country of Zug is currently performing
on using blockchain to log votes. The Zug municipality isn't just keen to
become a blockchain capital; it's also among the primary administrations to
special interest to inaugurate blockchain-based voting.
The premiere was a hit- Fortune quoted Zug
communications chief Dieter Müller told Swiss press agency. There have been not
as many participants, but those that took part found the whole process easy.
Technical analysis of how the trial went next as this is often the foremost
common issue with electronic voting. The grail for electronic voting will be a
system to permit auditing but will still preserve the anonymity of people. Some
believe that blockchain might be the proper answer.
Hong Kong's Securities and Futures
Commission (SFC) said that they should watch cryptocurrencies and Initial Coin Offerings (ICO)
closely in their annual report. The watchdog also noted that the new technology
brings in risks to decide to intervene if necessary. While the SFC has taken
steps to make more defined policies against ICOs and native cryptos - warning
people about the possible risks - Hong Kong has also continued nurturing
financial, cross-border initiatives supported blockchain. The region has been
steadily gaining a reputation as a world blockchain hub.
As an autonomous territory of China, Hong
Kong operates with a separate form of government that also extends to its local
economy. This suggests the town doesn't approach crypto in the same way that
China does. It's a comparatively friendlier position towards technology in
comparison to China.

Shivangi Mujumdar
CBW - External Analyst
INDIA