finbold.com
ChromaWay, the platform behind relational blockchain, announced its partnership with the European Union (EU) will continue, as per the latest updates shared with Finbold on July 15.
Focusing on blockchain-based sustainability solutions, the renewed partnership comes after a presentation at the EU PCP final review meeting, held in collaboration with the European Blockchain Services Infrastructure (EBSI) project.
ChromaWay’s innovations in relational blockchain
At the meeting in Brussels, the participants praised ChromaWay’s achievements, particularly those made possible by its institutional brand, RBN Eco.
The evaluators commended the development of decentralized applications (dApps) aimed at Digital Product Passports and Intellectual Property Rights.
These innovations are powered by relational blockchain technology, designed to enhance efficiency by improving the organization and complexity of on-chain data.
The same technology supports Chromia, a public Layer-1 platform, which is set to launch its mainnet on July 16th.
The potential of relational blockchain
ChromaWay’s success shows the potential of relational blockchain to deliver significant applications across both private and public sectors.
Following the successful showcase, the project is now moving towards commercialization, with talks with clients in the battery and textile industries already taking place, driven by the upcoming Ecodesign legislation set for 2027.
The legislation is expected to push companies towards integrating Web3 technologies and modernizing client interactions to promote participation in the circular economy.
The road ahead
In July 2024, the European Blockchain Association will interview representatives from RBN Eco and ChromaWay to ensure alignment with new initiatives.
Additionally, the ChromaWay team will attend a follow-up workshop in Brussels in September to plan the next steps for the fourth quarter of 2024 and into 2025.