The European Union (EU) has announced its ongoing collaboration with ChromaWay to develop blockchain-based sustainability solutions. The decision came on July 12 following ChromaWay’s presentation at the EU Pre-Commercial Procurement (PCP) final review meeting, where advancements in decentralised applications for Digital Product Passports (DPP) and intellectual property (IP) rights were showcased.
Relational Blockchain Technology
During the review meeting in Brussels, ChromaWay highlighted its development of relational blockchain technology, which improves efficiency by enhancing the organisation and complexity of on-chain data. This technology combines the flexibility of relational databases with the decentralised security of blockchain.
Relational blockchain technology has potential applications in enterprise solutions and serves as the foundation for Chromia, a public layer-1 platform designed for Dapps, set to launch its mainnet on July 16.
Or Perelman, co-founder of Chromia, expressed enthusiasm for developing innovative solutions for institutional applications alongside the EU. He stated, “By fostering collaboration among governments, regulators, institutions, and blockchain innovators, we can unlock the full potential of Web3 technology and drive widespread adoption.”
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. The EU has been committed to advancing technologies that drive economic and environmental benefits across Europe.
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 chose for its Web3 ID for blockchain sandbox in June 2024.
