EU Partners with ChromaWay for Blockchain Sustainability Solutions

YEREVAN (CoinChapter.com) — The European Union continues its collaboration with ChromaWay to develop blockchain-based sustainability solutions. Announced on July 12, this partnership follows ChromaWay’s presentation at the EU Pre-Commercial Procurement (PCP) final review meeting.

ChromaWay’s Blockchain Tech Showcased in Brussels

ChromaWay’s relational blockchain technology was a key focus during the Brussels meeting. This technology improves the organization and complexity of on-chain data. By combining the flexibility of relational databases with blockchain security, it offers a practical solution for various applications.

This technology could power enterprise solutions and supports Chromia, a public layer-1 platform for decentralized applications. Chromia’s mainnet launch is scheduled for July 16.

EU Praises ChromaWay’s Blockchain Potential

The EU’s positive assessment highlights the potential of relational blockchain technology in public and private sectors. This support aligns with the EU’s strategy to integrate blockchain solutions for sustainability and efficiency.

Or Perelman, co-founder of Chromia, commented on working with the EU. He said,

“By fostering collaboration among governments, regulators, institutions, and blockchain innovators, we can unlock the full potential of Web3 technology and drive widespread adoption.”

European Union Plans Blockchain Interviews and Workshops for Future Initiatives

Representatives from ChromaWay and RBN Eco will interview with the European Blockchain Association in July 2024. This interview aims to assess their fit with upcoming EU initiatives. A follow-up workshop in Brussels is planned for September to outline the next steps for Q4 2024 and into 2025.

The EU has also partnered with other blockchain solutions, such as Iota, chosen by the European Commission for its Web3 ID for blockchain sandbox in June 2024. These partnerships show the EU’s commitment to using blockchain technology for economic and environmental benefits.

ChromaWay Advances Digital Product Passports and IP Rights

At the PCP final review meeting, ChromaWay showcased advancements in applications for Digital Product Passports (DPP) and intellectual property (IP) rights. These applications are crucial for enhancing transparency and security in digital transactions.

The relational blockchain technology developed by ChromaWay plays an important role in these advancements. Its ability to organize complex data efficiently makes it valuable for developing DPP and IP rights solutions.

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