To make the german newspaper understandable better:
Dolfi Müller, the mayor of the city of Zug: "We want to express our openness to the new technologies and make own experiences soon. We will invite the FinTech-companies, what already are resident in the city of Zug to exchange ideas. Its our goal, to meet their needs for an optimal integration in our life and economy.”
In the “CryptoValley” of Zug reside already 15 (!) crypto-companies, of what ETH is only one.
This makes more than 1 crypto-company per 2000 citizens. This is reasoned not only by the lowtax-condition, but essentally by the reliability of the swiss law and the hardness of the swiss fiat curreny too. This is probably reasoned not by the crypto-interest of the citizens of Zug really.
The pilot project of the city of Zug is initially limited to chargeable services of the citizen-control up to a limit of 200 francs (~200$). That means, not taxes, but potentially all the taxcharged supplementary-services of the citizen-control (of what exist few). Its a pilot-project limited until end 2016 and thereafter will get decided, if it is getting continued, stopped, extended to other cryptocurrenciec and/or extended to other services of the city.
That potentally could be electricity, water etc. ..maybe even the parking-fines.
the question is: will Zug hold the BTC or change them to fiat.
I am sure, the Swiss will make about hard fiat swiss Frankly immediately, because they will certainly not take the responsability for the currency-fluctuations of the BTC against the fiat in the bilance of the city. Thats very public in Switzerland and losses would be very unpopular.
That's a great start... Switzerland is one of the top cashless societies. Bitcoin is definitely a perfect match. Hopefully there is free wifi at the counters where you make payments.
No, I cannot confirm at all. Switzerland is one of the low cashless societies..
The Swiss like to pay cash always.
Its always the normalcase to pay cash in the swiss supermarket.
