EU is leading the way for sustainable web3 solutions. In a recent announcement. the European Union confirmed its ongoing partnership with ChromaWay to develop a blockchain-based sustainability initiative.
This decision followed ChromaWay’s presentation at the EU Pre-Commercial Procurement (PCP) final review meeting on July 12, where they showcased advancements in decentralized applications for Digital Product Passports (DPP) and intellectual property (IP) rights.
At the review meeting in Brussels, ChromaWay emphasized the progress of their foundational technology, relational blockchain, which enhances efficiency by organizing complex on-chain data more effectively. Relational blockchain technology combines the flexibility of relational databases with the decentralized security of blockchain.
This technology can be used for enterprise solutions and supports Chromia, a public layer-1 platform for decentralized applications, set to launch its mainnet on July 16.
By fostering collaboration among governments, regulators, institutions, and blockchain innovators, we can unlock the full potential of Web3 technology and drive widespread adoption.”
Or Perelman, the co-founder of Chromia
This is not the first time, the EU has shown strong interest in blockchain for sustainability. While they’ve partnered with Iota for Web3 ID, ChromaWay’s relational blockchain technology impressed the EU with its potential for both the public and private sectors.
This aligns with the EU’s goal of integrating innovative blockchain solutions for a more sustainable and efficient Europe. ChromaWay will be further evaluated in July and September to see how their technology fits into upcoming EU initiatives.
