Indian State of Andhra Pradesh Partners ChromaWay for Blockchain Land Registry

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term startup ChromaWay has partnered with the government of the Indian state of Andhra Pradesh to build a blockchain-powered solution for a secure and smart system of land registration.

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Henrik Hjelte, CEO of ChromaWay, is presenting the pilot project today at the Blockchain Business Conference in Visakhapatnam. KPMG India, knowledge partners of Fintech Valley Vizag - the flagship initiative of the government of Andhra Pradesh - was instrumental in organising the pilot, he says.

Mr J A Chowdary, Special Chief Secretary and IT advisor to the Chief Minister of Andhra Pradesh, said: “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. 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.

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. Chromaway’s expertise and previous implementation in countries such as Sweden has added immense value to our understanding of blockchain.”

Founded in 2014, ChromaWay is headquartered in Stockholm, and has offices in Tel Aviv, Lviv, and Washington DC. It first gained experience with blockchain land registries when it was chosen as the Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term for a long-term pilot organised by the Swedish land registry, Lantmäteriet.