Bitcoin Suisse is pleased to announce a collaboration agreement with SwissLedger, an initiative by the City of Lugano to establish an institutional blockchain for businesses and users in the city.
Bitcoin Suisse becomes a “trusted” validator, providing infrastructure as well as organizational, operational, and technical expertise “to enable the network to scale and evolve securely.”
Launched at the Beyond Blockchain event in Villa Ciani, Lugano on the 13th of March, SwissLedger is designed to “make finance and business in the city faster, more efficient and secure.”
It targets use cases such as “document notarization, asset tokenization, data protection, as well as feeless financial transactions using the LVGA digital currency.”
As noted in the update, an interconnected initiative called Swiss Digital Key supports “cryptographically secured digital signatures, and the automation of financial and business processes using smart contracts.”
As a proof-of-authority (PoA) validator, Bitcoin Suisse will “validate and register transactions proposed by users and maintain an updated copy of the entire ledger.”
In addition, the Zug-based firm will work with SwissLedger and other partners within “a governance framework to shape the technical evolution of the chain. It joins other prestigious partners of the initiative including Avaloq.”
Andrej Majcen, CEO of Bitcoin Suisse, said:
“SwissLedger serves as a concrete example of what’s possible when businesses, users and authorities come together to embrace blockchain and envisage a more secure and efficient future. The accession of Bitcoin Suisse to the group of trusted validators highlights the power and robustness of our architecture as well as the deep native expertise of our team.”
SwissLedger is reportedly available to 500 partner businesses and “over 40,000 end-users throughout the region.”
The blockchain opted for a PoA consensus mechanism in order “to ensure scalability, fast transaction speeds and robust cyber resilience.”
As mentioned in the announcement, the ledger will be “periodically mirrored to the Bitcoin and/or Ethereum networks for added trust and immutability.”