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Swiss Post, the national postal service of the country and the Swisscom-owned telecommunications company have joined forces to develop a blockchain platform.
The two announced On Thursday, they are using Hyperledger Fabric to build their "simple, secure, and sustainable" private blockchain infrastructure, intended for use by their own and other business applications.
The infrastructure is designed to meet the high levels of security required by the banks, while all hosted data will remain within Switzerland, they added.
The announcement indicates that the system is more energy efficient than public blockchain offers, stating:
"In contrast to" public blockchains "(eg bitcoin and ethereum), this private blockchain infrastructure requires much less energy, since it can only be used by identified users who have a contractual relationship with application providers. This allows more efficient agreement procedures and significantly higher security and performance. "
The first pilot blockchain apps are scheduled for launch in the second quarter of 2019, with use cases focusing on companies and government agencies that wish to digitize their business processes in a "safe and verified" manner.
Swiss Post and Swisscom also said they were willing to accept other partners to join them in the project. Ultimately, they want to "enable the Swiss economy to quickly gain a leadership position when it comes to using this promising technology".
The two companies are already using blockchain technology for several use cases.
The PostFinance Post Financial Services Unit, for example, launched a pilot project in May that provides for the smart billing of energy via blockchain. It also stores temperature data on a blockchain to monitor pharmaceutical products in transit.
Swisscom is work with its subsidiary Daura AG, on a blockchain system that facilitates the issue, purchase and sale of shares.
Swiss post office box image via Shutterstock
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