Swiss Post and Swisscom will develop infrastructure for blockchain applications

Swiss Post and telecommunications firm Swisscom have teamed up to create a secure and resilient infrastructure for blockchain applications in Switzerland. Both companies will use the network to manage their own services and create a platform for future applications.

This infrastructure will be different from other private blockchain applications, as the data will be stored entirely in Switzerland, in accordance with the banks' high requirements for security and privacy.

Unlike public blockchains (such as Bitcoin and Ethereum), this private infrastructure requires much less energy costs, since it can only be used by identified users who have a contractual relationship with the application providers. This will make approval processes more efficient and will significantly improve security and productivity. For many companies, this is a decisive argument for launching their own blockchain applications.

Using the Blockchain for Utility (B4U) service, PostFinance and Energie Wasser Bern have launched a pilot project that allows owners of houses with a photovoltaic system to automatically bill their residents for the electricity they use via the blockchain.

Both companies will use a common infrastructure based on Hyperledger Fabric software for their own applications, as well as will provide it to other companies for their development.

The first pilot applications are scheduled to enter the market in the second quarter of 2019. The offer is designed for companies and government agencies that want to process important business processes safely and securely.

According to postalandparceltechnologyinternational.com