Blockchain technology has become more than just an underlying platform for cryptocurrencies and has grown to be one of the most transformative technologies of this generation. While the tech is a decade old, the true growth and expansion of the technology have only really happened over the last few years.
Business, banks, companies and corporations across the world are exploiting the tech that has great potential. Governments across the globe are also implementing blockchain to benefit the public sectors with applications like voting, taxation, energy trading etc. India is one among those nations stressing on blockchain innovation.
Even before the Reserve Bank of India uplifted its shadowban on cryptocurrencies, India had completely shifted its focus on blockchain technology and how it can benefit the nation. Apart from the authorities aiming to deploy blockchain at a national level, the nation has been collaborating with several international players like Power Ledger and IBM.
The latest to strengthen its foothold in the India market is Chromia, a subsidiary of Chromaway, a blockchain company with an exceptional track record in the industry working to push the adoption of decentralized applications (dapps) by addressing the limitations of the existing blockchain networks by solving scalability issues for dapps.
As per the company’s announcement on twitter, its native token CHR, which is used as the standard currency within the platform to maintain consensus, has been listed on two major Indian exchanges with a combined user base of 500k+active users.
CHR went live on Binance backed WazirX and OKEx backed CoinDCX on July 2. This is a great boost for Chromia as the listing will further help with gaining more exposure within the Indian community.
Roots in the Indian crypto industry
The blockchain platform behind popular games like Mines of Dalarnia, and Krystopia 2 is no stranger to the Indian blockchain industry. Its parent company ChromaWay has previously partnered with the government of Andhra Pradesh to develop a blockchain-based system for land registration. The solution aims to eliminate fraud and errors, and greatly reduce the administrative burden of land registration and title transfer.
Furthermore, the blockchain company has also partnered with Tech Mahindra, one of the largest tech giants in India, to act as a sales channel for all Chromia products. The tech company also holds the exclusive rights to Chromia’s land-registration tech usage in India.
The partnership with Tech Mahindra has been a great support for Chromia to better understand the Indian tech market and help promote the use of blockchain tech in India.
As of now, Chromia plans on further expanding their developer pool in India, creating more opportunities in the Indian market and further strengthening its roots.