Swisscom’s Digital Asset division is responsible for the pilot initiative, where it joins a validator consortium of industry leaders like Andreessen Horowitz (a16z), Polychain, Binance, and DCG, to name a few, who will operate the consensus backbone of the network by maintaining the Nym blockchain. In doing so, Swisscom is supporting the development of a new privacy-enhanced infrastructure where innovative business models around data-ownership can emerge.
How does it work?
Nym is a Switzerland-based start-up, spearheading decentralized infrastructure coming out of Europe. The Nym network comprises thousands of computers that mix and obfuscate data, allowing users to preserve their online privacy. Leveraging blockchain technology, Nym is able to create and scale a global and decentralized privacy infrastructure, where computers that participate in the network are incentivized and rewarded through its native token.
The Nym team will also enable additional privacy features in the coming months, helping cement Nym as an extremely powerful multi-purpose blockchain.
Swisscom embraces innovation around data privacy
Swisscom believes that decentralized open networks have the potential to transform conventional platform business models, reducing lock-in effects and fostering community-owned open platforms. For such openly accessible networks to be successful, solutions for greater data privacy guarantees are needed to gain user trust. Through this pilot initiative, Swisscom is underlining its mission to partner with the most ambitious projects to foster more decentralized and data-ownership centered business models.
Nym Technologies SA is a Switzerland-based privacy startup delivering end-to-end privacy for network and application layers. To distribute improved anonymity across an array of web-based activities, Nym offers a fully decentralized and open-source Nym mixnet that effectively prevents metadata surveillance by concealing metadata from data packets. Founded in 2018, Nym is backed by investment from a consortium of industry leaders, both in and outside the blockchain universe.