Mandala Chain, a blockchain initiative on the Polkadot network, has announced partnerships and applications, notably the IDCHAIN app.
A Polkadot network blockchain initiative called Mandala Chain has come clean about its early partnerships and intended applications. With the help of the group in charge of Indonesia’s top-level.id web domain, the IDCHAIN app is getting its start. Through this project, more than 10 million additional digital wallets may be available to users in Indonesia, which could drastically change the way people validate their identities online.
IDCHAIN is a Mandala Chain-based software application that aims to create a secure system for storing digital identities on the.id domain. This would let users digitally save their identification documents and engage with online services offered by both private companies and public institutions.
There could be far-reaching consequences. The second-level domains.go.id and.co.id are used by the Indonesian government and enterprises, respectively, and more than 100 million unique local people use these websites at present.
Through IDCHAIN, these domains can serve as web3 gateways that, upon interaction, ask users to generate a digital ID. Financial institutions, medical facilities, insurance companies, and schools are just a few of the many potential end users of this technology.
To back up the creation of new use cases for Mandala Chain, IDCHAIN creates an essential data infrastructure layer for the platform. They will be the platform for future decentralized apps (dApps) and Layer 2 networks, with a variety of pilot projects slated to emerge in the banking, healthcare, infrastructure, product authenticity, and gold tokenization sectors using the same technology stack.
Declaring to the media, “We are firm believers that the next wave of blockchain adoption comes from emerging markets through real-world utility,” I Gede Putu Rahman Desyanta, Founder of Mandala Chain, stated. According to him, “that vision is being turned into reality” through their extensive collaborations and use cases.
In preparation for their upcoming testnet launch and token generation event, Mandala Chain has secured the Polkadot Parachain slot
With the goal of bridging the gap between the world’s new and old blockchain markets, Mandala Chain is an ongoing blockchain initiative. They are being piloted in Indonesia, where they will be able to take advantage of strategic resources and partnerships to gain an edge that can be used to break into other markets.
A Polkadot Parachain was acquired by Mandala Chain in April 2024. Over $1.2 million was raised for the project by the general public at this auction. The planned deployment date for Mandala Chain’s testnet is June 2024. Moreover, at the Token Generation Event (TGE) in September 2024, Mandala Chain intends to distribute its very own cryptocurrency.