RBN from the Swedish company ChromaWay is dedicated to promoting a robust European Blockchain ecosystem that prioritizes security, scalability and ease of use.
STOCKHOLM, SWEDEN / ACCESSWIRE / April 21, 2023 / ChromaWay has been selected as one of three companies to advance to Phase 2B, the final phase of the European Commission’s Blockchain Pre-Commercial Procurement (PCP).
The underpinning ChromaWay technology Relational Blockchain Nebula offers several technical advantages essential for establishing secure blockchain services for the EU. These include low environmental impact, improved security through the Rell programming language, and the use of years of database optimization research that gives RBN the ability to handle complex queries with improved performance. The innovative Nebula architecture allows for expansive scalability, ensuring that companies across the EU can access affordable blockchain services without high transaction fees or slow processing speeds.
In the final phase of the program, Relational Blockchain Nebula will undergo technical field testing and lay the foundation for interoperability with the wider European Blockchain Services Infrastructure (EBSI), including self-sovereign digital identity (SSI) and verifiable credentials (VC).
At the end of Phase 2B, ChromaWay will launch the first two decentralized applications built on RBN: Digital Product Passport (DPP) and Intellectual Property Rights Marketplace (IPR). The DPP aims to reduce waste and promote sustainability in the textile industry, while the IPR Marketplace provides a transparent platform for registering and trading IP assets such as patents, trademarks and copyrights.
These decentralized applications are designed to streamline compliance, promote innovation and promote commerce within the EBSI ecosystem, while showcasing the potential of blockchain technology to create a more transparent and sustainable economy. The long-term vision of RBN is to enable a vibrant, interoperable ecosystem of blockchain-based services developed by EU companies for the benefit of EU citizens.
Henrik Hjelte, CEO of ChromaWay, said, “We are delighted to be part of this ground-breaking initiative which has the potential to revolutionize industries across the EU. Our technology not only addresses the challenges of security and scalability, but can also contribute to a more efficient and sustainable future for the EU .”
As the European Blockchain Services infrastructure continues to take shape, ChromaWay’s Relational Blockchain Nebula is poised to play a significant role in driving innovation and sustainability across the EU.
About ChromaWay
ChromaWay, established in 2014, is the creator of the relational blockchain Chromia – a new architecture that combines the power and flexibility of a relational database with the decentralized security of a blockchain. ChromaWay has developed applications for clients worldwide in multiple sectors including banking, supply chain, real estate and green finance.
Media contact
Company: ChromaWay
Person: Fati Hakim
Email: [email protected]
Website: https://chromeway.com/
SOURCE: ChromaWay
