What is cryptocurrency without adoption?
For more than a decade now cryptocurrency has been growing, developing, expanding. A breathtaking amount of progress has been made since the initial publication of the Bitcoin whitepaper. Would Satoshi have seen all this coming?
But while so much has happened, realists are questioning whether cryptocurrency and blockchain really lives up to the hype. Why? Realistically, real world use of blockchain and crypto is minimal at best.
There are so many fancy platforms, applications and payment methods available, but they don’t mean anything if they aren’t being used. At the end of the day, a blockchain solution is only better than traditional competitors once the consumer makes the switch.
Refreshingly, since the ICO boom of 2017 the market has cooled off and a number of well grounded projects have been left standing strong. One of them is Chromia, a media partner of The Daily Chain.
Chromia is a blockchain platform created with the aim to increase the adoption of blockchain and decentralized applications.
At present, perhaps the quickest and most efficient path to adoption is partnerships. Partnerships are powerful for blockchain – they create real use cases and provide businesses the opportunity to discover the potential of blockchain. Over time, one would expect partnerships to introduce the benefits of blockchain and eventually spur the integration of blockchain platforms into legacy operations.
It’s not just us that recognise the need for partnerships in this game – Chromia are ahead of the pack on this too.
Any successful business needs to bring in revenue so they can continue to scale. Over the last year Chromia has been generating the majority of revenue from enterprise sales, with more than $850k earnt this year through a series of partnerships, one of which was IADB and many are yet to be announced.
There are many public chains fighting for relevancy, but Chromia are unique in that they are building multiple large partnerships where their technology is being used in the real world.
Partnerships of Chromia
NGC is one of the largest institutional players in crypto, having backed more than 40 blockchain projects with more than $400 million in crypto assets. NGC are strong believers in the long term future of Chromia and the partnership allows Chromia to leverage the extensive network and expertise of NGC.
NGC was a key participant in Chromia’s private token sale. Coupled with the strategic partnership announcement, this implies NGC holds strong beliefs about the long term potential of Chromia.
Chromia anticipates the support of NGC to be immensely valuable. There are plans to work with NGC to become the first mainstream dapp platform by building strong relationships across Asia with businesses, developers and academia. NGC has also committed some of its own computer hardware to become a Chromia provider via StakeX.
Tech Mahindra is a large technology company in India. Tech Mahindra has exclusivity of Chromia’s land-registration tech usage in India. They have expressed interest in Chromia’s operations and have partnered to act as a sales channel for Chromia products. Chromia views Tech Mahindra as a valuable partner – they are a highly successful Indian company with a deep knowledge of the Indian tech market, perfect for leading the charge with blockchain and Chromia in India.
The games unit of Chromia – Chromia Studios – is collaborating with Workinman Interactive, a US-based market leader that specializes in cross-platform games using high performance engines and high resolution custom art.
Chromia Studios will work with Workinman Interactive to launch the first series of games, the first of which will be a fast paced mining game. Workinman Interactive are well connected, having worked with Disney, Atari, Marvel, NBC Universal, Nickelodeon, Nintendo and more, so it will be interesting to see what comes from this partnership.
Green Assets Wallet
Green Assets Wallet (GAW) is a leading platform aiming to accelerate the market for green investments. GAW is under the leadership of Stockholm Green Digital Finance (SGDF), with the 4ire Labs team responsible for the development and integration of Chromia blockchain. The GAW project is funded by SEB bank, Government Authorities in Sweden and Germany, Öhman, the Stockholm Sustainable Finance Center, GIZ, CICERO (Center for International Climate Research and the leading global provider of Second Opinions on green bonds).
GAW was initially built on Postchain, the original relational blockchain created by the Chromia team. GAW will now be releasing on Chromia because the GAW developers appreciate the convenience of Chromia compared to other solutions thanks to vastly improved user experience, reporting systems and search functionalities.
The Swedish Land Registry Lantmäteriet, Chromaway, Kairos Future, Telia Company, SBAB Bank, Landshypotek bank and Evry are investigating using Smart Contracts and Blockchain for the process of selling a house.
Stockholm Green Digital Finance
Chromaway is building a platform for validating green investment claims and reporting on the impact of green projects in collaboration with Stockholm Green Digital Finance.
What does this mean?
All in all, Chromia clearly has the drive to build strong partnerships and powerful technology to back it up. It appears that companies see the benefits of not just blockchain technology, but specifically utilizing Chromia’s solution.
We have our eyes on Chromia to see if they can continue to build their partnership roster and kick-start the long awaited blockchain adoption.
The Daily Chain
*Disclaimer – Chromia are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.