Tech Mahindra Partners with Blockchain Technology Pioneer ChromaWay

Tech Mahindra announced its partnership with ChromaWay, a Stockholm-based company, which has been pioneering blockchain solutions in the public and private sector since 2014, to deliver blockchain technology to the Indian market.

ChromaWay and Tech Mahindra will focus on developing core ChromaWay technologies into innovative applications for a range of use cases, primarily around land registration and real estate process orchestration. This work will build on ChromaWay’s experience in building blockchain solutions for government agencies in Sweden and Andhra Pradesh.

ChromaWay has worked with banks, companies, and organizations across five continents. ChromaWay’s newest product, Postchain, the world’s first consortium database, unites the best features of database and blockchain technology.

Databases are in the core of every institution, and while traditional databases are great at storing and retrieving information, they lack the security and trust benefits of blockchains. Blockchains provide security and trust, but sacrifice all of the flexible and powerful features offered by a modern database system. Postchain is the combination of both features, offering a new service compatible with existing databases.

ChromaWay and Tech Mahindra are partnering on an exclusive basis in India. Together, they aim to build on the existing strong relationship with the governments, and in due course expand to neighboring states. The ultimate goal through this partnership is to have the open-source technology platform powering a rich ecosystem of applications both in land registration and beyond, on a global scale.