ChromaWay, the platform behind relational blockchain, has announced that its collaboration with the European Union (EU) will continue, according to the latest updates shared with Finbold on July 15.
The renewed partnership focuses on blockchain-based sustainability solutions and 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
During the meeting in Brussels, participants praised ChromaWay’s achievements, especially those made possible by the institutional brand RBN Eco.
The evaluators praised the development of decentralized applications (dApps) focused on digital product passports and intellectual property rights.
These innovations are made possible by relational blockchain technology, designed to improve efficiency by improving the organization and complexity of on-chain data.
The same technology powers Chromia, a public Layer-1 platform, which will launch its mainnet on July 16.
The potential of relational blockchain
The success of ChromaWay demonstrates the potential of relational blockchain to deliver important applications in both the private and public sectors.
Following the successful showcase, the project is now moving towards commercialization, with discussions already taking place with customers in the battery and textile industries, driven by the upcoming 2027 Ecodesign legislation.
The legislation is expected to push companies to integrate Web3 technologies and modernize customer interactions to promote participation in the circular economy.
The road ahead
In July 2024, the European Blockchain Association will interview representatives of RBN Eco and ChromaWay to ensure alignment with new initiatives.
In addition, the ChromaWay team will attend a follow-up workshop in Brussels in September to plan next steps for the fourth quarter of 2024 and into 2025.