Hashgraph Supports Switzerland’s New Optional e-ID System Through Hedera-Powered IDTrust

• Swiss voters narrowly accredited the introduction of a state-issued digital identification system, with 50.4% voting sure and 49.6% no.
• Hashgraph has voiced assist for the e-ID initiative, with its IDTrust platform positioned as a privacy-first infrastructure.

The e-ID, or digital identification, is Switzerland’s leap towards a safe digital future. Issued by the federal authorities, this digital ID will let residents show their identification on-line in a protected and trusted approach. It’s solely voluntary, free to make use of, and designed to work alongside bodily paperwork like passports and ID playing cards, not substitute them.

In a LinkedIn submit, the Hashgraph Group voiced its robust assist for the initiative, noting that

The Hashgraph Group stands firmly behind this transformative nationwide initiative. Switzerland’s strategy to e-ID methods aligns completely properly with the safe, trusted, and citizen-controlled digital identification rules that we champion at The Hashgraph Group.

The staff then defined that, being on the forefront of Swiss Web3 innovation, their IDTrust platform showcases their dedication to creating self-sovereign identification options constructed on the trusted DLT of Hedera Hashgraph.

In a intently watched referendum in September, 50.4% of Swiss voters mentioned “sure” to introducing a nationwide digital ID card, simply edging out the 49.6% who opposed it. The end result shocked many pollsters, who had predicted a way more snug win for the pro-e-ID camp.

Voter turnout hit 49.55%, larger than anticipated, displaying how strongly the problem resonated throughout the nation.

For Switzerland’s political events, which had largely backed the plan, the victory comes as a aid. Only a few years in the past, in 2021, voters rejected an earlier model of the e-ID proposal. One of many largest issues again then was that personal firms would have an excessive amount of management over delicate identification information.

This time, lawmakers addressed that criticism head-on: the brand new system can be totally government-run, with no non-public operators managing the core identification infrastructure.

How Hedera’s IDTrust Matches In

For context, the IDTrust is a self-sovereign identification (SSI) platform constructed by The Hashgraph Group on Hedera. IDTrust goals to beat among the largest limitations of conventional identification methods, together with fragmentation, vendor lock-in, information overexposure, and inefficiency.

Switzerland’s e-ID can be constructed round verifiable credentials, safe, cryptographically verifiable digital proofs of issues like your identification, age, or residency standing. But it surely received’t cease at ID playing cards.

The identical belief infrastructure will enable public authorities and personal organizations to concern a variety of official digital paperwork, from driving licenses and diplomas to proof of residence and even membership playing cards.

It permits credentials to maneuver freely between platforms, offers customers management over what private info they share, and streamlines verification by means of trusted ledger expertise and AI instruments.

As Stefan Deiss, Co-Founder and CEO of The Hashgraph Group, defined, the e-ID upholds Switzerland’s core values of knowledge safety, privateness, and safety.

In a separate growth, filings submitted on Oct. 7 present that Canary has up to date its S-1 registrations for each exchange-traded funds, formally revealing their ticker symbols: LTCC for the Litecoin ETF and HBR for the Hedera ETF. The HBAR ETF builds on an preliminary submitting made in November 2024, which got here quickly after the debut of a non-public HBAR belief for accredited buyers.

If accredited, these funds might mark an vital milestone in bringing HBAR additional into institutional investments.