The European Union (EU) has announced its ongoing collaboration with ChromaWay to develop blockchain-based sustainability solutions. This initiative focuses on creating Digital Product Passports (DPP) and managing Intellectual Property (IP) rights using advanced blockchain technology.
Advancements in Relational Blockchain Technology
ChromaWay’s recent presentation at the EU Pre-Commercial Procurement (PCP) final review meeting in Brussels showcased significant progress in decentralized applications. The company introduced its relational blockchain technology, which combines the flexibility of relational databases with the security of blockchain. This technology aims to enhance the efficiency and complexity management of onchain data.
Relational blockchain can power enterprise solutions and supports Chromia, a public layer-1 platform designed for decentralized applications. Chromia is set to launch its mainnet on July 16.
Or Perelman, Chromia’s co-founder, expressed enthusiasm for the partnership with 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”.
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EU’s Commitment to Blockchain Adoption
The EU’s endorsement of ChromaWay’s contributions highlights the potential of relational blockchain technology to impact both public and private sectors significantly. This collaboration aligns with the EU’s broader strategy to integrate innovative blockchain solutions, promoting sustainability and efficiency across various industries.
The EU has demonstrated its commitment to technological advancements that drive economic and environmental benefits throughout Europe. In line with this, representatives from RBN Eco and ChromaWay are scheduled for an interview with the European Blockchain Association in July 2024 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.
Broader Blockchain Collaborations
The EU’s blockchain adoption strategy includes partnerships with other blockchain solutions like Iota, which the European Commission selected for its Web3 ID for blockchain sandbox in June 2024. These collaborations aim to foster innovation and sustainable development through advanced blockchain technologies.
