500,000 people in Switzerland voted for a Bitcoin like financial system

posted 11 months ago
A campaign to radically shift Switzerland’s financial industry into something resembling Bitcoin's economic system lost spectacularly yesterday — it managed to win almost 500,000 votes, around 25% of those polled.

The controversial plan — known as the Sovereign Money Initiative — would have seen commercial banks barred from electronically creating money when they lend beyond their deposits.

"Cryptocurrency and the blockchain does look like where we're heading. It could have been used under the system we were proposing," said Emma Dawnay, board member of MoMo, the group which proposed the Sovereign Money Initiative.
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