“Tax havens” Zug town will be available bitcoin payment of public services
The town is in the northern city of Zug, Switzerland, which is located in the northeastern coast of Lake Zurich, Zug – railway line in Milan, a population of about 30 thousand, standing in the city overlooking the the Alps Millennium snow.
Switzerland has a total of 26 states, Zug is a minimal state, only 115 thousand residents, and is the capital town of zug.
In May 3, 2016, the town of Zug parliament decided to accept bitcoin payment of its dues and public utilities, as part of a crypto currency test.
Zug town welcome bitcoin
The town because of the rapid growth of financial technology (fintech) is known, even referred to as “the encryption of Silicon Valley, there are 15 financial technology company headquarters located here. Obviously, the Town Council hopes to continue the town of Zug as a financial center of science and technology trends.
By the local mayor DolfiM ller said in the report:
“We hope that through participation in bitcoin, to express that we are willing to accept this new technology. We will invite Fintech came to town and the town council communicate zug. Our goal is to meet their development in our booming economic environment to optimize the demand.”
As a pilot project, the first will allow up to 200 francs in payment, payment amount may introduce more in the future.
It is reported that this trial will be carried out in 2016, and the costs and benefits of decision analysis. This analysis will ultimately determine whether the town council will continue to allow payment of municipal services bitcoin.
In a town of 30000 people to conduct such a trial, this sounds a bit strange, but it may be an ideal test platform. Zug taken to its economic laissez-faire attitude is the doctrine, and it has the financial clout to want more than you can imagine, because there are 3% of the world’s oil trade is carried out through the area.