Video - The City of Zug, A Bitcoin Pioneer

The city of Zug will be the first public authority in the world to accept the cryptocurrency Bitcoin. This pilot project, set to begin on July 1, 2016, will allow people to use the virtual currency to pay for services at the residents’ registration office for sums of up to CHF200. However, Bitcoin has been subjected to major fluctuations and critics fear that the city stands to lose money through the project.


Written by Melvin Draupnir on June 9, 2016.