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Swiss post and Swisscom to launch Blockchain infrastructure in Switzerland

Swiss post and Swisscom to launch Blockchain infrastructure in Switzerland

December 12, 2018 5:07 am,

The two state-owned entities Swiss Post, which is Switzerland’s national postal service and Swisscom, which is one of the country’s largest state-owned telecom service providers come together to form a simple, secure and sustainable platform for Blockchain application in Switzerland. It will create a Distributed Ledger Technology (DLT) platform.

This DLT template can be customized as per the need of individual companies and projects, including privacy requirements. The platform will be based on the hyper ledger Fabric2 software for better security and easily verifiable system. The system will allow all the parties to transact directly with each other without any middlemen like banks and accountants to record trades. The data will remain strictly within the borders of Switzerland.

In comparison with Bitcoin and Ethereum, this platform will require much less energy since it can be only used by identified users who have a contractual relationship with the providers of an application. This facilitates more efficient agreement procedure and higher security and performance.

The joint venture between the two will make the first private Blockchain platform in the country. The application will be launched in Q2 2019.

Swiss Post has been working on Blockchain technology for a very long period of time. One of the latest technology was to record the temperature measurement data during the transport of pharmaceutical products.