Telecom Operator SwissCom launches Blockchain Company SwissCom Blockchain

SwissCom, Switzerland’s leading telecom operator announced its launch of a new Blockchain company. The company under the name SwissCom Blockchain will be dedicated to the development of Blockchain applications.  SwissCom Blockchain will be a Fintech startup owned 70% by Swisscom and 30% by its founding partners. 

Mr. Daniel Haudenschild, the CEO of Swisscom Blockchain will lead the company into the implementation of Blockchain application, and the support of initial coin offerings. He has previously worked for Ernst&Young where he led the team responsible for the acceptance of Bitcoin as a means of payment at EY. 

In an interview on SwissCom website, Haudenschild explains, “Blockchain technology will revolutionize business and administration as we know it. Supply chains, payment flows, and contractual relationships which are often complex and expensive could be simplified and Blockchain technology with its distributed databases could take over this role.” 

When asked why Swisscom decided to invest in a Blockchain company, Haudenschild replied, “First it is an enabling technology and a key topic for Switzerland as a location. We can help companies tap into the potential of this technology and introduce the highest possible professional standards to the industry.” 

As for the major segments where there is high potential for Blockchain implementation. Haudenschild sees the financial, pharmaceutical transport and logistics sectors as key sectors. Already SwissCom is engaged in a digital C-share as a member of the digital Switzerland network as well as attempting to create a Blockchain solution for the commercial register.