The European Union has reaffirmed its collaboration with ChromaWay to develop blockchain-based sustainability solutions. This decision was announced on 12th July following ChromaWay’s presentation at the EU Pre-Commercial Procurement (PCP) final review meeting. The presentation showcased advancements in decentralized applications for Digital Product Passports (DPP) and Intellectual Property (IP) rights.
Relational Blockchain Technology
At the review meeting in Brussels, ChromaWay highlighted its relational blockchain technology. This innovative technology enhances efficiency by improving the organization and complexity of on-chain data, blending the flexibility of relational databases with the decentralized security of blockchain.
Relational blockchain technology is poised to power enterprise solutions and also underpins Chromia, a public layer-1 platform for decentralized applications. Chromia’s mainnet is set to launch on 16th July. Or Perelman, co-founder of Chromia, expressed enthusiasm for developing innovative solutions for institutional applications alongside the EU. “By fostering collaboration among governments, regulators, institutions, and blockchain innovators, we can unlock the full potential of Web3 technology and drive widespread adoption,” he told.
EU Blockchain Adoption
The EU’s positive assessment of ChromaWay’s contributions underscores the potential of relational blockchain technology to create significant impacts in both the public and private sectors. This initiative aligns with the EU’s broader strategy to integrate innovative blockchain solutions into various sectors, promoting sustainability and efficiency.
In July 2024, representatives from RBN Eco and ChromaWay will be interviewed by the European Blockchain Association to assess compatibility with upcoming EU initiatives. Additionally, the team will participate in a follow-up workshop in Brussels this September to outline the next steps for Q4 2024 and into 2025.
The EU has also partnered with other blockchain solutions such as Iota, which the European Commission selected for its Web3 ID for blockchain sandbox in June 2024. This partnership and the endorsement of ChromaWay’s relational blockchain technology reflect the EU’s commitment to fostering technological advancements that drive economic and environmental benefits across Europe.
