Swisscom is a public telecommunications company and along with Swiss Post, which is a public platform of the country, is planning to build a blockchain for personal and public use.
The blockchain will be made by Hyperledger Fabric2. Swiss Post has already tested the technology by using it to keep a record of temperature observations while transporting medicinal drugs.
It is also working on an energy accounter and billing system to accurately charge consumers. It is doing it in collaboration with Energie Wasser Bern which is an independent, public-law company owned by the city of Bern.
It is confirmed that the new blockchain technology under development will be used by the public and also by the company privately.
Both the companies are reputable for their good job at handling sensitive information. The data on the developing blockchain will be used only in Switzerland and will have to meet the security demands of banks so as it does not impose any risks.
With introducing crypto technology in the country these companies are making Switzerland an emerging hub for business opportunities and is offering benefits to companies in all areas and departments. The planned pilot will be released from April to June of next year. The pair is fixated on collaborating with other companies and authorities as well
It was only a matter of time before Switzerland who is a renowned financial innovator showed its support for the emerging field of Crypto space. The acceptance of crypto technology by it may be the start of a new trend among the European Union countries.