Swedish Blockchain Start-Up ChromaWay Partners with Snowbridge to Promote Blockchain Applications

Swedish Blockchain Start-Up ChromaWay Partners with Snowbridge to Promote Blockchain Applications

ChromaWay, the pioneering Swedish blockchain start-up, has announced an exciting collaboration with Taiwan’s esteemed Snowbridge and BlockChain Security to revolutionize the digital identity experience and promote smart contract implementations through the launch of YesID Digital Identity Service and the DG-Secure Smart Contract Notary System using blockchain 2.0.

In recent years, blockchains have been celebrated as one of the key technologies that will change human civilization in the next decade, thanks to their ability to enhance operational efficiency, increase information security, and reduce transaction costs. As such, Sweden, the UK, and Estonia have already implemented blockchain technology in government services. Following suit, Taiwan’s National Development Council declared last year that it will be implementing blockchain technology to realize smart governance. With its extensive experience in blockchain projects for the Swedish and European governments, ChromaWay is well-equipped to expand its scope and venture into Taiwan’s thriving blockchain market, alongside its world-class software R&D talents. In collaboration with Snowbridge and BlockChain Security, ChromaWay is set to introduce blockchain applications that will transform the digital identity experience.

Drawing inspiration from the Swedish BankID business model and supported by ChromaWay’s exclusive Blockchain 2.0 technology, Snowbridge is set to launch the exclusive YesID Digital Identification Service in Taiwan. The platform allows users to establish a digital encrypted identity, which is verified by the blockchain network when users log into digital services. This process effectively blocks phishing attempts and safeguards customer data security, thus offering greater peace of mind to users when accessing digital services.

Digital contracts have been around for some time, but they have not been fully accepted due to a lack of tamper-proof technology. The introduction of blockchain technology has solved these problems and ushered in an era of digital contracts. ChromaWay has licensed its exclusive blockchain technology to BlockChain Security to support the launch of the DG-Secure Smart Contract Notary System in Taiwan. This innovative system combines the dual security mechanisms of traditional handwritten signatures and digital signatures, enabling users to sign contracts securely online.

By integrating the immutability and decentralized management features of blockchains, digital fingerprints generated during the contract signing process are uploaded to blockchains for storage, ensuring that neither the contract nor the signing process can be tampered with. This provides users and businesses with a secure platform to store valuable digital documents, such as digital contracts, insurance policies, or e-certificates.