Chromaway
FOUNDING YEAR: 2014
LOCATION: Sweden
Last Update: 19/01/2021
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About
ChromaWay was founded in 2014 and is an early pioneer of what is now dubbed as "blockchain 2.0" technology. With great blockchain experts 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. Among many other successes, ChromaWay presented Postchain, a consortium database. Follow ChromaWay for many upcoming products and partnerships with governments, institutions and companies around the world.
MEDICI Analysis
ChromaWay offers blockchain as a platform for financial institutions and is working on a smart contract platform that allows for digitizing and representing workflows in a secure, private and efficient way. The platform built for colored coins which are currently being used for many real world transactions on the Bitcoin network.
Focus
PRODUCTS & SERVICES
Chromawallet for trading of coloured coins
REVENUE MODEL
SAAS model, licensing, maintenance, support, features (In the future transaction fees).
MAIN CLIENTS
Landshypotek Bank
SBAB
Andhra Pradesh Government
Telia
Lantmateriet
LHV
Funderbeam
EXISTING PARTNERSHIPS
The company has partnered with Funderbeam
LHV Bank.
PRIMARY PROBLEM SOLVED
ChromaWay developed a unique smart contract product which automates and streamlines business process workflows. Today's problems in workflow products are that normal workflow products only digitize one process within one organization. We bring trust to workflows so organizations and institutions will be able to share the process between them without the need to trust each other making the process much more streamlined, much more secured and much more automated and transparent. For example take a look at the closure process in a mortgage transaction, a complex process between a couple of actors which is usually very complex and entitled to lots of fraud, by the use of our product we can eliminate fraud, streamline the process and increase transparency. So we don't only record the asset on the blockchain, we are recording the entire process.
company provided insights
Traction
COMPANY TYPE:
For Profit
REVENUE
$100k - $499
TRANSACTIONS COMMENT:
All our customers are paid customers.
ACTIVE USERS:
8 paying clients
ACTIVE USERS COMMENT:
Customers from Europe and Asia.
People
FOUNDERS
Henrik Hjelte
Alex Mizrahi
Ludvig Öberg
BOARD MEMBERS AND ADVISORS
Alex Mizrahi
Henrik Hjelte
Iddo Bentov
Or Perelman
NUMBER OF EMPLOYEES
11-50
INVESTORS:
KEY EMPLOYEES:
Henrik Hjelte(CEO); Alex Mizrahi(CTO); Or Perelman(COO)
Momentum
FUNDED
NO
NUMBER OF FUNDING ROUNDS
2
TOTAL FUNDING
$260 K
DATE OF LAST FUNDING
Oct 2018
IPO STATUS
Private
ESTIMETED REVENUE RANGE
Less than $1M
SEED & PRIOR FUNDING
$260 K
LISTED
NO
company provided insights
Web Traffic
MONTHLY VISITS
1,799
AVERAGE VISITS (6 MONTHS)
2,994.89
MONTHLY VISITS GROWTH
-50.15%
VISIT DURATION
60
VISIT DURATION GROWTH
48.11%
PAGE VIEWS VISIT
2.3
PAGE VIEWS VISIT GROWTH
42.13%
BOUNCE RATE
51.51%
BOUNCE RATE GROWTH
-24.85%
GLOBAL TRAFFIC RANK
4,210,507
MONTHLY RANK CHANGE
-94,918
MONTHLY RANK GROWTH
-2.2%
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Chromaway
About
ChromaWay offers blockchain as a platform for financial institutions and is working on a smart contract platform that allows for digitizing and representing workflows in a secure, private and efficient way. The platform built for colored coins which are currently being used for many real world transactions on the Bitcoin network.
Focus
PRODUCTS & SERVICES
ChromaWay developed a unique smart contracts to streamline business process workflows and private blockchain products to enable different kind of use-cases to be built on top, while the first use-case of ChromaWay's focus is real-estate and mortgage transactions, we also see demand for other use-cases as well in different sectors.
REVENUE MODEL
SAAS model, licensing, maintenance, support, features (In the future transaction fees).
TOP PROBLEM SOLVED
ChromaWay developed a unique smart contract product which automates and streamlines business process workflows. Today's problems in workflow products are that normal workflow products only digitize one process within one organization. We bring trust to workflows so organizations and institutions will be able to share the process between them without the need to trust each other making the process much more streamlined, much more secured and much more automated and transparent. For example take a look at the closure process in a mortgage transaction, a complex process between a couple of actors which is usually very complex and entitled to lots of fraud, by the use of our product we can eliminate fraud, streamline the process and increase transparency. So we don't only record the asset on the blockchain, we are recording the entire process.
PRODUCT DEVELOPMENT STAGE
MVP
PRODUCT DEVELOPMENT COMMENT
We will be launching our products in 2.5 months.
KEY DIFFERENTIATORS
*Privacy - the people which are involved in our contract are the only ones who can see the data in the contract and no one else. Interopabiity - we can make blockchains interop with each other. And more differentiation which will be public soon.
PRIMARY CUSTOMER TYPE
Enterprise - Banks or Financial Institutions
PRODUCT ATTRIBUTES
SaaS
Traction
ANNUAL REVENUE:
$100k - $499
TRANSACTIONS VALUE:
0.00
TRANSACTIONS COMMENT:
All our customers are paid customers.
ACTIVE USERS/ACCOUNTS:
8 paying clients Million
ACTIVE USERS COMMENT:
Customers from Europe and Asia.
LIVE USERS/TRANSACTIONS:
Yes, in trial/pilot
How will you grow the number of users/accounts/transactions?
Network effect, direct sales, channel partners.
CHANNEL STATUS
INITIAL CLIENTS
NUMBER OF CLIENTS OR PAYING CUSTOMERS
8
People
NUMBER OF EMPLOYEES
1-10
KEY EMPLOYEES:
employee: Henrik Hjelte(CEO);
employee: Henrik Hjelte(CEO);
employee: Henrik Hjelte(CEO);
BOARD MEMBERS AND ADVISORS:
Henrik Hjelte, Alex Mizrahi, Or Perelman, Iddo Bentov
INVESTORS:
Momentum
FUNDED
YES
FUNDING COMPLETED
NO
LISTED
NO