Bali, Indonesia, June 5, 2024, Chain wire

Mandala Chain: Actual-World Utility and Adoption, Beginning in Indonesia

Mandala Chain, a parachain that seamlessly integrates authorities and enterprise purposes with the general public and retail sectors, has introduced particulars of its first partnerships and use instances. The primary use case, IDCHAIN, is working with the group that manages Indonesia's top-level .id internet area. The initiative goals to onboard over 10 million new wallets and have a major affect on digital identification in Indonesia.

IDCHAIN: Pioneering Digital Id Answer

Constructed on Mandala Chain, IDCHAIN ​​is designed to create a safe digital identification infrastructure on the .id area, permitting customers to retailer identification paperwork and work together with authorities and company portals.

The implications are profound: Indonesia's second-level domains .go.id (authorities) and .co.id (enterprise and banking) at the moment have over 100 million lively distinctive customers. IDCHAIN ​​will rework these second-level domains into Web3-enabled portals, encouraging customers to create their digital identities as they work together. Purposes embrace banking, healthcare, insurance coverage, and academia, revolutionizing a number of financial sectors in Southeast Asia.

IDCHAIN ​​will type a essential information infrastructure layer for Mandala Chain and can help quite a few new use instances. We’ve got already secured a number of pilot initiatives leveraging different DApps and L2's expertise stack to launch on Mandala Chain, together with:

Banking: Mandala Chain is working with over 90 banks to place information and transactions on-chain, and can initially add 40,000 new wallets.

well being care: We've partnered with over 20 hospitals to safe medical information and insurance coverage on-chain, and plan to initially add 900,000 new wallets.

Gold Tokenization: Working with a significant Indonesian gold mining firm with $500 million in gold reserves to discover tokenization choices, gaining roughly 300,000 new customers.

infrastructure: Signed an MOU with Indonesia's largest information infrastructure supplier to discover a number of blockchain purposes.

Product Reliability: Work with BKRAF to create authentication certificates for artist IP and merchandise. TAM over 80M.

Mandala Chain, a sleeping big of Southeast Asia, has chosen to deal with Indonesia as its first market to roll out its preliminary use case. Indonesia is the fourth most populous nation on this planet and is projected to have the fourth largest GDP by 2040, behind China, India, and the USA. The nation's development potential is almost unparalleled.

The Indonesian authorities has prioritized blockchain as core infrastructure inside the framework of its Digital Imaginative and prescient 2045. With a median age of below 30, Indonesia's younger, tech-savvy inhabitants is more likely to undertake blockchain expertise. Mandala Chain is nicely positioned to be on the forefront of this explosion in blockchain adoption.

About Mandala Chain

Mandala Chain raised over $1.2 million from the general public on the time of the public sale and secured a Polkadot parachain for April 2024. The testnet will go stay in June, with the token era occasion deliberate for September 2024. That is strategically timed to coincide with Mandala Chain turning into co-title sponsor of Coinfest, one of many largest blockchain conferences in Southeast Asia.

contactCo-FounderMatthew PaulMandala Chaininquiry

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