- Swiss voters narrowly authorized the introduction of a state-issued digital identification system, with 50.4% voting in favor and 49.6% voting in opposition to.
- Hashgraph positions the IDTrust platform as a privacy-first infrastructure and expresses help for the e-ID initiative.
e-ID (digital ID) is Switzerland’s leap in the direction of a safe digital future. This federally issued digital ID permits residents to soundly and reliably show their id on-line. It’s utterly voluntary and free to make use of, and is designed to work alongside, quite than change, bodily paperwork equivalent to passports and ID playing cards.
In a submit on LinkedIn, Hashgraph Group expressed robust help for this initiative, stating:
Hashgraph Group firmly helps this transformative nationwide initiative. The Swiss method to the e-ID system is absolutely according to the ideas of a safe, trusted and citizen-controlled digital id espoused by Hashgraph Group.
The staff then defined that the corporate’s IDTrust platform, which is on the forefront of Swiss Web3 innovation, demonstrates its dedication to creating self-sovereign id options constructed on Hedera Hashgraph’s trusted DLT.
In a high-profile referendum in September, 50.4% of Swiss voters stated they had been in favor of introducing a nationwide digital ID card, barely greater than 49.6% who had been in opposition to it. The outcomes shocked many pollsters, who had predicted a a lot simpler victory for e-ID supporters.
Voter turnout was 49.55%, larger than anticipated, displaying how a lot of an influence this concern had all through the USA.
The victory was a reduction for Switzerland’s political events, which had largely supported the plan. Only a few years in the past, in 2021, voters rejected an earlier model of the e-ID proposal. One of many greatest considerations on the time was that non-public corporations would have an excessive amount of management over delicate id information.
Now, lawmakers are addressing that criticism head-on, saying the brand new system shall be run totally by the federal government, with no non-public operator managing the core id infrastructure.
How Hedera’s IDTrust suits in
For context, IDTrust is a self-sovereign id (SSI) platform constructed on Hedera by Hashgraph Group. IDTrust goals to beat among the greatest limitations of conventional id methods, together with fragmentation, vendor lock-in, information overexposure, and inefficiency.
Swiss e-IDs are constructed round verifiable credentials, safe and cryptographically verifiable digital proofs of id, age, and residence standing. But it surely’s not nearly ID playing cards.
The identical belief infrastructure permits private and non-private organizations to concern a variety of public digital paperwork, from driver’s licenses and diplomas to certificates of residence and membership playing cards.
This permits credentials to maneuver freely between platforms, offers customers management over the non-public data they share, and streamlines verification by means of trusted ledger expertise and AI instruments.
As Hashgraph Group co-founder and CEO Stephan Dies defined, e-ID helps Switzerland’s core values of information safety, privateness and safety.
In one other improvement, a submitting filed on Oct. 7 reveals that Canary has up to date the S-1 registrations for each exchange-traded funds and formally revealed their ticker symbols (LTCC for the Litecoin ETF and HBR for the Hedera ETF). The HBAR ETF is predicated on an preliminary submitting in November 2024, shortly after the debut of the non-public HBAR Belief for accredited traders.
If authorized, these funds might be an necessary milestone in additional introducing HBAR into institutional investing.
