The project is being supported by over 100 companies including IBM, Intel, and JP Morgan, among others. The addition of Swisscom will enable the Swiss economy to benefit from cooperation and prototypes. The telecom company’s addition to Hyperledger blockchain consortium is aimed at promoting the development of a cross-industry blockchain standard. The Swiss firm will join other companies including Airbus, BNP Paribas, BNY Mellon, Deutsche Börse, Intel, which are already onboard.
Swisscom has been working and researching on the blockchain technology applications since 2015. It estimates that the distributed ledger technology will play an important role in the digital economy and can be used for digital transactions, banking applications, e-voting, and contracts through the IoT. Currently, it is testing a smart contract platform and is working for off-board trading as part of a KTI project with Lucerne University of Applied Sciences and Arts.
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