With the decision announced on July 12, the EU aims to develop new generation solutions focused on sustainability and transparency by continuing its cooperation with ChromaWay, one of the leading companies in the field of blockchain. One of the main areas of cooperation between the EU and ChromaWay is “Digital Product Passports” (DPP) and “Intellectual Property Rights” (IPR).

At the EU Pre-Commercial Procurement (PCP) meeting held in Brussels on July 12, ChromaWay presented its work on the development of decentralized applications (dApp) using blockchain technology in these areas. This presentation included applications explaining how the security and transparency offered by blockchain technology can be tracked throughout the life cycle of products and how intellectual property rights can be protected.

For example, all stages of a product, from the production process to its delivery to the consumer, can be recorded on the blockchain, and information such as the product’s origin, quality and compliance with sustainability standards can be tracked transparently. Likewise, digital copying or unauthorized use of an artist’s work can be easily detected thanks to blockchain technology and intellectual property rights can be protected more effectively.

In its presentation, ChromaWay emphasized the “relational blockchain” technology, which takes blockchain technology one step further. This technology combines the flexible structure of traditional relational databases with the secure and centralized structure of blockchain. Thus, complex data management is simplified and the organization and access of on-chain data is facilitated.

In this way, it becomes easier to integrate blockchain technology into corporate applications. For example, different companies in a supply chain can exchange data securely and transparently thanks to relational blockchain technology, increasing the sustainability and efficiency of the supply chain.

ChromaWay also uses relational blockchain technology in the Chromia platform designed for the development of decentralized applications. The Chromia platform, which is preparing to launch its mainnet on July 16, can play an important role in the development of sustainability solutions by unlocking the potential of blockchain technology.

As ChromaWay co-founder Or Perelman points out, they are willing to develop innovative solutions for institutions together with the EU. This cooperation can make significant contributions to the EU’s sustainability goals in 2024 and beyond.

The EU’s continued collaboration with ChromaWay shows that it is not just focused on a single project, but is aware of the potential of blockchain technology to deliver innovative solutions in the public and private sectors. This collaboration, when considered together with the EU’s previous partnerships with other blockchain solutions such as Iota, can be seen as part of a broader EU strategy to ensure transparency and reliability in the digital world.

At the same time, these initiatives support the EU’s sustainability goals. The EU believes that blockchain technology can improve sustainability in areas such as tracking supply chains, reducing carbon emissions and lifecycle management of products. In this way, it may become easier to achieve both environmental protection and economic development goals.

In July 2024, RBN Eco and ChromaWay representatives will enter into an interview with the European Blockchain Association to assess compatibility with upcoming EU initiatives. Additionally, the team will attend a follow-up meeting in Brussels in September to outline plans for the 4th quarter of 2024 and 2025. These meetings will reveal concrete steps of the cooperation between the EU and ChromaWay and help determine the framework for future projects.

The strategic cooperation between the EU and ChromaWay is seen as an important step in ensuring that the digital future is both transparent and sustainable, although blockchain technology is still a developing field. The results of this collaboration could accelerate Europe’s digital transformation in the coming years, leading to significant changes in areas such as digital trade, environmental protection policies and the protection of intellectual property rights.