- Swiss voters narrowly accredited 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 fully voluntary and free to make use of, and is designed to work alongside, relatively than exchange, bodily paperwork similar to passports and ID playing cards.
In a put up on LinkedIn, Hashgraph Group expressed sturdy help for this initiative, stating:
Hashgraph Group firmly helps this transformative nationwide initiative. The Swiss strategy to the e-ID system is absolutely per the ideas of a safe, trusted and citizen-controlled digital id espoused by Hashgraph Group.
The workforce 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 mentioned they have been in favor of introducing a nationwide digital ID card, barely greater than 49.6% who have been in opposition to it. The outcomes stunned many pollsters, who had predicted a better victory for e-ID supporters.
Voter turnout was 49.55%, greater than anticipated, exhibiting how a lot of an impression this problem had all through the US.
The victory was a aid for Switzerland's political events, which had largely supported the plan. Just some years in the past, in 2021, voters rejected an earlier model of the e-ID proposal. One of many largest considerations on the time was that personal firms would have an excessive amount of management over delicate id information.
Now, lawmakers are addressing that criticism head-on, saying the brand new system will likely be run solely by the federal government, with no personal operator managing the core id infrastructure.
How Hedera’s IDTrust matches in
For context, IDTrust is a self-sovereign id (SSI) platform constructed on Hedera by Hashgraph Group. IDTrust goals to beat a few of the largest 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 allows private and non-private organizations to problem 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, provides customers management over the non-public data they share, and streamlines verification via trusted ledger know-how and AI instruments.
As Hashgraph Group co-founder and CEO Stephan Dies defined, e-ID helps Switzerland's core values of knowledge safety, privateness and safety.
In one other improvement, a submitting filed on Oct. 7 exhibits 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 personal HBAR Belief for accredited traders.
If accredited, these funds may very well be an necessary milestone in additional introducing HBAR into institutional investing.