2B4CH, a Swiss non-profit advisory organization that supports government research into cryptocurrencies such as Bitcoin (BTC) and blockchain technology, is launching an initiative to make Bitcoin a reserve asset in the country.
On October 8th, the association announced plans to start a federal dissemination initiative to collect 100,000 signatures to include Bitcoin in Article 99 Article 3 of the Swiss Federal Constitution.
The initiative specifically proposes adding Bitcoin to the list of assets of the Swiss Central Bank, which the constitutional clause would read as follows: “The Swiss National Bank will create sufficient currency reserves from its income; part of these reserves are held in gold and bitcoin. “
But whether the vote will be successful is still not really relevant as the initiative is focused on collecting signatures to put this proposal up for Swiss citizens to vote on, the founder and president of 2B4CH told Cointelegraph, Yves Bennaim told Cointelegraph.
“If the signatures are successfully collected, a legal vote must take place, as well as the conversations and debates, which ultimately lead to better information and education for everyone in Switzerland and hope around the world, as we have set an example.” said Bennaim. “We hope the vote will be successful, but even if it doesn’t, it will when the issue is open to public debate,” he noted.
If the vote is successful, the Swiss National Bank (SNB) will need to learn how to top up Bitcoin in its reserves in the “best and safest” way, which would make Switzerland one of the world’s leading countries in Industry and Bennaim said which benefited their economy on many levels, adding:
“Such an amendment to the constitution would affect the people of Switzerland just as much as Silicon Valley and the London Stock Exchange benefited the people in their respective countries.”
According to Bennaim, 2B4CH is still in the preliminary phase of the project and is currently testing the possibility of an interest in the initiative. In the next steps, the project will be presented to the alliance and official signatures will be collected. “If this phase is successfully completed, it will take months or even years for the actual voting to take place,” said Bennaim.
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Founded in Geneva in 2017, 2B4CH is an independent not-for-profit that researches the social and financial changes brought about by bitcoin and blockchain technology and the impact of decentralized cryptocurrencies. So far, the think tank has fewer than 20 members and does not accept donations in order to protect the independence and privacy of its members.
Switzerland has become one of the most crypto-friendly countries in the world, with the Canton of Zug piloting Bitcoin payments for public services in 2016. Last month, the market watchdog Swiss Finance approved the country’s first crypto fund after it had sold the SIX Swiss. had approved Exchange to launch a digital asset market.