- Swiss voters narrowly approved the introduction of a state-issued electronic identity system, with 50.4% voting yes and 49.6% no.
- Hashgraph has voiced support for the e-ID initiative, with its IDTrust platform positioned as a privacy-first infrastructure.
The e-ID, or electronic identity, is Switzerland’s leap toward a secure digital future. Issued by the federal government, this digital ID will let citizens prove their identity online in a safe and trusted way. It’s entirely voluntary, free to use, and designed to work alongside physical documents like passports and ID cards, not replace them.
In a LinkedIn post, the Hashgraph Group voiced its strong support for the initiative, noting that
The Hashgraph Group stands firmly behind this transformative national initiative. Switzerland’s approach to e-ID systems aligns perfectly well with the secure, trusted, and citizen-controlled digital identity principles that we champion at The Hashgraph Group.
The team then explained that, being at the forefront of Swiss Web3 innovation, their IDTrust platform showcases their dedication to creating self-sovereign identity solutions built on the trusted DLT of Hedera Hashgraph.
In a closely watched referendum in September, 50.4% of Swiss voters said “yes” to introducing a national electronic ID card, just edging out the 49.6% who opposed it. The result surprised many pollsters, who had predicted a much more comfortable win for the pro-e-ID camp.
Voter turnout hit 49.55%, higher than expected, showing how strongly the issue resonated across the country.
For Switzerland’s political parties, which had largely backed the plan, the victory comes as a relief. Just a few years ago, in 2021, voters rejected an earlier version of the e-ID proposal. One of the biggest concerns back then was that private companies would have too much control over sensitive identity data.
This time, lawmakers addressed that criticism head-on: the new system will be fully government-run, with no private operators managing the core identity infrastructure.
How Hedera’s IDTrust Fits In
For context, the IDTrust is a self-sovereign identity (SSI) platform built by The Hashgraph Group on Hedera. IDTrust aims to overcome some of the biggest limitations of traditional identity systems, including fragmentation, vendor lock-in, data overexposure, and inefficiency.
Switzerland’s e-ID will be built around verifiable credentials, secure, cryptographically verifiable digital proofs of things like your identity, age, or residency status. But it won’t stop at ID cards.
The same trust infrastructure will allow public authorities and private organizations to issue a wide range of official electronic documents, from driving licenses and diplomas to proof of residence and even membership cards.
It allows credentials to move freely between platforms, gives users control over what personal information they share, and streamlines verification through trusted ledger technology and AI tools.
As Stefan Deiss, Co-Founder and CEO of The Hashgraph Group, explained, the e-ID upholds Switzerland’s core values of data protection, privacy, and security.
In a separate development, filings submitted on Oct. 7 show that Canary has updated its S-1 registrations for both exchange-traded funds, officially revealing their ticker symbols: LTCC for the Litecoin ETF and HBR for the Hedera ETF. The HBAR ETF builds on an initial filing made in November 2024, which came soon after the debut of a private HBAR trust for accredited investors.
If approved, these funds could mark an important milestone in bringing HBAR further into institutional investments.