By Hassan Mehmood (Saudi Arabia)
Switzerland, which is considered the very platform from which the strings of centralized finance are strung and connected, is now thinking about administering Bitcoin into its federal constitution. Also, there is going to be a vote to decide whether or not this transition should take place. Who knows if it would be a successful transition or not, but it will definitely help the people to understand what Bitcoin is and the technology that supports such a dynamic digital asset because at the moment, people have no inspiration or understanding of what Bitcoin is.
A Swiss nonprofit think tank by the name of 2B4CH is helping the state in exploring digital currencies such as Bitcoin and the hidden powers of blockchain technology. There is an initiative underway by the farm which seeks to make Bitcoin a reserve asset for the country. The initiative at present is to collect 100,000 signatures to add Bitcoin into article 99, clause 3 for the Swiss federal constitution. It is by a huge proportion a very subtle project and definitely an endearing one because, in simpler terms, the mission here is to get decentralized finance set and acquainted into a place that is considered the very HQ of centralization.
Also read:Citizens will Decide via Voting Process
The end game of this is not yet calculated, and no one knows if it will turn out to be a success or not. If by any chance Bitcoin is added into the Swiss federal constitution, the constitution clause will read as; the Swiss national bank will be creating enough currency reserves originating from its revenues, and part of these reserves will be kept both in bitcoin and gold. At the moment, the very target of this whole campaign is to get Swiss citizens to vote on this initiative by gathering signatures. If by some miracle the signatures are gathered, then eventually the vote will happen, and this will support discussions and debates among the citizens of Switzerland and hopefully the rest of the globe as well. Whether or not the votes are collected, the topic of making Bitcoin a currency reserve for Switzerland will be discussed in public, and awareness will be brought to them, directly or indirectly.
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