Swiss Post and Swisscom are developing the Blockchain platform based on Hyperledger

According to a municipality Press release published by Swisscom is Swiss PostOn 6 December 2018, the two state-owned entities came together to form a "simple, safe and sustainable" platform for blockchain applications in Switzerland.

Project based on private Blockchain

While Swiss Post is the Swiss national postal service, Swisscom is one of the country's largest providers of state telecommunications services. The two team up to simplify their service offer and promote the blockchain ecosystem in the country.

The joint venture is the first "private blockchain" platform in the country to be managed by two entities. The platform differs from other private blockchains because the data will remain strictly within the borders of Switzerland. Furthermore, the press release found that the security of the platform would be equal to that of the banks in terms of sophistication.

In particular, the private blockchain infrastructure would consume less energy than some of the popular public blockchains (Bitcoin, Ethereum) because a certain number of users will manage it with a vested interest for the applications used.

The use of the private blockchain will also strengthen the efficiency, security and scalability of the platform.

The announcement also indicated that the common infrastructure would be based on the open source project Hyperledger fabricand there are plans to make the platform available to other companies for their applications.

First pilot applications to be launched in the second quarter of 2019

The first pilot applications of the project will be launched in the second quarter of 2019, focusing on their usefulness for the other companies and the government authorities that are increasingly pushing for the digitalization of business processes in a safe and transparent way.

The two Swiss bodies responsible for the joint initiative have already entered the emerging technology world. For example, Swiss Post uses DLT technology to store temperature measurement data during the transportation of pharmaceutical products. Similarly, Swisscom is committed to developing the digital share based on blockchain technology with its subsidiary Daura AG.

Recent developments in the blockchain sector have put Switzerland at the forefront of technology adoption.

On 3 December 2018, the Swiss FINMA introduced a new set of guidelines to encourage the development of the local blockchain industry. The guidelines have greatly simplified the registration process of an encryption-based business in the country.

BTCManager reported On 15 November 2018, SIX Swiss Exchange is planning to replace its existing operating structure with a blockchain-based platform to bring more transparency and efficiency into the securities trading world.