Swiss Post, Swisscom Developing New Blockchain Platform on Hyperledger
Swiss Post and Swisscom have teamed up to build an infrastructure for blockchain applications on Hyperledger Fabric.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ULCEQLUOM5BDFNIUNCTPXAZF6E.jpg)
Swiss Post, the country's national postal service, and state-owned telecoms provider Swisscom have united to develop a blockchain platform.
The two announced Thursday that they are using Hyperledger Fabric to build their “simple, secure and sustainable” private blockchain infrastructure, intended to be utilized by their own, as well as other companies’, applications.
The infrastructure is designed to meet the high security levels required by banks, while all data hosted will remain within Switzerland, they added.
The announcement indicates that the system is more energy efficient than public blockchain offerings, stating:
The first pilot blockchain apps are scheduled for launch in Q2 2019, with use cases said to be focusing on corporates and government agencies desiring to digitize business processes in a "secure and verified" manner.
Swiss Post and Swisscom also said they are open to accepting other partners to join them on the project. Ultimately, they desire "to enable the Swiss economy to quickly obtain a leading position when it comes to using this promising technology."
The two companies are already using blockchain technology for several use cases.
Swiss Post's financial services unit PostFinance, for instance, launched a pilot project in May that provides smart energy billing via blockchain. It also stores temperature data on a blockchain for monitoring pharmaceuticals in transit.
Swisscom is working with its subsidiary, Daura AG, on a blockchain system that facilitates the issuance, purchase and sale of shares.
Swiss postal mailbox image via Shutterstock
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.