A church in Zurich, Switzerland, is bringing the age-old act of tithing into the 21st century with the acceptance of cryptocurrency transactions.
The International Christian Fellowship church is hopping on the trend in the hopes that cryptocurrencies such as Bitcoin will soon become integrated into everyday life.
Nicolas Legler, a spokesperson for the ICF Church, told Swiss media Wednesday that “Digital currencies and the blockchain technology will change our daily lives more and more in the next years.”
“Cryptocurrencies will be implemented, be it Bitcoin or other currencies controlled by the State,” he added. “We are convinced that this technology will soon belong to our daily lives.”
As noted by Newsweek, ICF Zurich is one of the largest churches in the country and promotes itself as cutting-edge and modern to keep up with its young members.
The church’s website states that it is “a contemporary Christian church that is creative, innovative and sometimes a little bit crazy.
“In a contemporary way we shout out the greatest news ever told: That God loves us and desires to have a personal, real relationship with us!” the website continues. “We do so with exciting music, relevant preachings and the latest technology.”
In this case, the latest technology is Bitcoin, the face of the new cryptocurrency craze sweeping the globe.
According to CNN Money, Bitcoin was created in 2009 by an unknown individual going under the pseudonym Satoshi Nakamoto.
“Transactions are made with no middle men – meaning, no banks!” CNN Money writes, adding that the currency “can be used to buy merchandise anonymously.”
The anonymity and lack of regulations surrounding the use of bitcoin make it a potentially dangerous form of currency to use when engaging in monetary transactions, Newsweek reported.
However, national governments such as Switzerland have begun experimenting with it in hopes turning the trend into a reality.
The Swiss city of Zug piloted a project in 2016 that allowed its residents to use bitcoin to pay for services provided by the government.
And Bitmain Technologies, a Chinese bitcoin mining company, is expanding the company and placing a location in Switzerland.
However, the currency has faced tumultuous times recently as its value has dropped roughly 47% from record highs experienced in December 2017.
On Wednesday, bitcoin’s value dropped below $10,000, a far cry from its record-high value of $19,343 reached in December, wiping away nearly $30 billion of value, USA Today reported.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.