Home Bitcoin News Polygon ($MATIC) Blockchain Is Being Used by Switzerland’s Postal Service

Polygon ($MATIC) Blockchain Is Being Used by Switzerland’s Postal Service

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Crypto News


The national postal service for Switzerland is planning to launch the “Swiss Crypto Stamp”.

According to a press release issued by Swiss Post, which “issues around 50 different new stamps each year”, on November 25 it will “launch a very different type of stamp, representing a milestone in Swiss stamp history – the Swiss Crypto Stamp, the first of its kind in Switzerland,” which will allow Swiss Post to “bridge the gap between the physical world of stamps and the digital crypto-universe.”

Polygon MATIC Blockchain Is Being Used by Switzerlands Postal Service
Source: Swiss Post

Here is how Swiss Post describes its crypto stamp:

At first glance, the Swiss Crypto Stamp looks like any ordinary stamp. It is self-adhesive, shows the Matterhorn and the moon on a blue background, and has a face value of 8.90 francs. Owners can use it to frank postal items just like any other stamp. But the actual crypto stamp is digital. and it is a digital collector’s item. Every physical Swiss Crypto Stamp provides access to a digital stamp stored in a blockchain.

According to a report by Cointelegraph, a spokesperson for Swiss Post told them:

Each design forms a nonfungible token and is stored in the Polygon Blockchain.

The press release went on to say:

When purchasing a Swiss Crypto Stamp, customers don’t know which digital design is linked to it. Buyers only discover what the digital twin of their physical stamp looks like when they go online. This is accessed via a QR code printed next to the physical stamp. By scanning this code, customers can view their digital crypto stamp online.

What is remarkable is that the digital crypto stamps come in 13 different designs. Some are more common, while others are much rarer and more coveted. There are 65,000 copies of the most common digital design, but just 50 of the rarest. One thing is clear: the Swiss Crypto Stamp means collecting, exchanging and trading stamps has gone digital, too.

The Swiss Crypto Stamp is being launched on 25 November 2021 in an issue of 175,000. Switzerland’s first crypto stamp will be available from this date at selected Swiss Post branches.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Image by Julius_Silver from Pixabay




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