ChromaWay is a little known blockchain company based in Sweden. They never had a fancy ICO, nor an outlandish marketing campaign. That’s because these “blockchain pioneers” have been developing their private blockchain since 2014 — nearly four years! What the public did not know was that they had been working on a secret gem called Postchain. On their current website, they explain:
We work with public and private sector actors to build and support applications on our platform, mainly around real estate and finance.
Since 2014, it appears that ChromaWay has been busy developing several products without raising money from a single ICO. They have SofiWay, a network for immediate settlement of payments which supports the development of E-krona, a digital currency project
launched by the Swedish Central Bank. Another product is the Universal Identity Hub, a project that aims to connect women and families living in danger. The Green Assets Wallet was also built to ensure that investments for green projects ended up where they were supposed to go by a trusted verification and validation infrastructure; this technology is currently being used by the German Federal Ministry for Economic Cooperation and Development (BMZ).
Postchain was announced this year, catching the attention of many eyes. It’s feature packed, and is claimed to be the first true consortium database that is: 1) SQL based; 2) Secure; 3) Flexible; 4) Easy to Use; 5) Tested; and lastly, 6) Enterprise Driven. A consortium database that is effective, safe, and enterprise-focused could have huge implications in many pretty much every industries and markets in existence today.
How Postchain Works (source from ChromaWay)
The implications of Postchain is game-changing. It’s absolutely huge.
“Many database systems have been around for years and are trusted in production by enterprises around the world. This means that with Postchain, a blockchain solution can be implemented by a SQL developer. There is no need for specialized blockchain developers or an experimental codebase. Postchain has been built from the ground up to support the consortium database architecture.”
The founders of ChromaWay have been developing blockchain applications for a very long time. The COO, Or Perelman, is interviewed in the first ever TechCrunch article about Bitcoin (mind you, this is 2011). The CTO, Alex Mizrahi, can be seen joking about colored Bitcoins on bitcointalk… and then actually developing it. In a way, Alex was the first person to ever fork bitcoin. These guys have been publishing research on blockchain technology since 2011 — this team is the real deal.
Huge players in the world of blockchain, including Charlie Lee (founder of Litecoin) and Vinny Lingham (founder of Civic) have recently joined ChromaWay’s advisory board following the announcement of Postchain, raising many questions.