Indian State Partners with ChromaWay for Blockchain Land Registry

Blockchain, FinTech, News | October 10, 2017 By:

The Government of Andhra Pradesh has teamed with blockchain startup ChromaWay to build a blockchain solution for a secure and smart system of land registration.

Andhra Pradesh is one of the 29 states of India, situated on the southeastern coast of the country. The state is the seventh largest in India, with a population of around 50 million.

Founded in 2014, ChromaWay provides a platform for smart contracts and issuing and transferring assets through a blockchain. ChromaWay has been working with the Swedish Land Registry and other institutions and financial companies to provide smart contract solutions for the real estate field.

Back in June, ChromaWay released a distributed database product called Postchain. The software claims to combine the power and flexibility of SQL databases with blockchain database design. The company claimed that a blockchain solution with Postchain can take advantage of the large pool of SQL developers with production experience and expertise, eliminating specialized blockchain developers, which are in short supply in such a young field.

The test platform being built with ChromaWay is part of the Fintech Valley Vizag, the flagship initiative of the government of Andhra Pradesh. The blockchain trial will be built on ChromaWay’s Postchain platform. The two implemented use cases that will be showcased at the Blockchain Business Conference hosted at Fintech Valley Vizag are in the areas of Land Registration and Road Transport Authority.

“Blockchain is the technology of the future. It will not only change the way we perceive processes but it also has the potential to transform the economy,” said J A Chowdary, Special Chief Secretary and IT advisor to the Chief Minister of Andhra Pradesh. “Of course, we all are yet to fully discover this technology and hence the Government of Andhra Pradesh has engaged with startups from across the globe such as Chromaway to run proofs of concept within its own departments.”

Last month, the southeast Indian state collaborated with Swiss cybersecurity company WISeKey to secure citizen data with blockchain technology. The objective of the partnership is to simplify processes and to further enhance cybersecurity in the wake of recent cybercrime attacks worldwide.