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In a new announcement on Thursday, Switzerland seems to be working on their progression in the blockchain space. The national postal service, Swiss Post, has decided to collaborate with Swisscom, which is the state-supported telecommunications provider. Their work will involve the development of a private blockchain, which will include the use of Hyperledger fabric.
The decision to use Hyperledger Fabric is based on its ability to create the file "Simple, safe and sustainable" platform that the duo is looking for. It will be used by the two entities, together with several other companies, after its completion. With the infrastructure, the blockchain will meet the security levels required by the bank, although all stored information will remain within the borders of Switzerland.
On the basis of the announcement, it seems that this system would work much more efficiently, from an energy point of view, compared to public offers on the blockchain. Holds
"In contrast to" public blockchains "(eg Bitcoin and Ethereum), this private blockchain infrastructure requires much less energy, as it can only be used by identified users who have a contractual relationship with the suppliers of an application. more efficient agreement procedures and significantly higher security and performance. "
Swisscom noted that "as opposed to" public blockchain ", this private blockchain infrastructure requires much less energy, as it can only be used by identified users who have a contractual relationship with application providers, which allows for agreement procedures. more efficient and safety and significantly higher performance. "
The first app on the blockchain should be ready for launch by mid-2019, although many of the use cases will be focused on corporate and government agencies. These agencies, in particular, will transform their business practices into digital assets, which will guarantee them in a secure way.
Both sides expressed their interest in bringing other investors and partners to complete this project. Their final goal is:
"To enable the Swiss economy to quickly gain a leadership position when it comes to using this promising technology."
In their own right, Swiss Post and Swisscom have both implemented their own cases of blockchain use.
At the Swiss Post, in May they launched a project through their PostFinance financial services unit, which offers intelligent energy billing. The blockchain also records temperature data to ensure that drugs and other drugs are properly stored during transit between locations. Swisscom used Daura AG, their subsidiary, to contribute to the purchase, sale and issue of shares. The Block, who reported on this decision, raised an important point
"Ultimately, Switzerland's national blockchain seems geared towards public authorities and companies interested in adopting the DLT, but only if it can not get them into trouble with local financial watchdogs. recently started to license the Swiss cryptocurrency activities intended to manage up to $ 100 million in customer funds ".
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