Introducing Mandala Chain, The Polkadot L1 Targets 10M+ New Wallets in Indonesia

Bali, Indonesia, June fifth, 2024, Chainwire

Mandala Chain: Actual World Utility & Adoption, Beginning in Indonesia

Mandala Chain, a parachain that seamlessly integrates authorities and enterprise purposes with public and retail sectors, has launched particulars on their preliminary partnerships and use circumstances. The inaugural use case, IDCHAIN, is in collaboration with the entity overseeing Indonesia’s top-level .id net area. This initiative goals to introduce over 10 million new wallets, considerably impacting digital identification in Indonesia.

IDCHAIN: Pioneering Digital Id Answer

IDCHAIN, constructed on prime of Mandala Chain, is designed to create safe digital id infrastructure on the .id area, permitting customers to retailer id paperwork and work together with authorities and enterprise portals.

The implications of this are profound. Indonesia’s second-level domains .go.id (authorities) and .co.id (enterprise and banking) at present have over 100M lively distinctive customers. IDCHAIN turns these second-level domains into web3-enabled portals that immediate customers to create their digital ID when interacting. Purposes embrace banking, healthcare, insurance coverage, and tutorial establishments – revolutionizing a number of financial sectors throughout SE Asia.

IDCHAIN varieties a vital knowledge infrastructure layer for Mandala Chain that may help a bunch of latest use circumstances. A number of pilot tasks have already been secured that may leverage the expertise stack for different DApps and L2s to launch on Mandala Chain. These embrace:

Banking: Mandala Chain is collaborating with over 90 banks to position knowledge and transactions on-chain, initially including 40,000 new wallets.

Healthcare: Partnering with 20+ hospitals to safe medical knowledge and insurance coverage on-chain, projected so as to add 900,000 new wallets to start out.

Gold Tokenization: Working with a serious Indonesian gold corp with $500M in gold reserves to discover tokenization choices, onboarding roughly 300,000 new customers.

Infrastructure: MOU signed with the biggest Indonesian knowledge infrastructure suppliers to discover a number of blockchain purposes.

Product Authenticity: Collaborating with BKRAF to create authentication certificates for artist IP and merchandise, a TAM of over 80 million merchandise.

Awakening Southeast Asia’s Sleeping GiantMandala Chain has elected to give attention to Indonesia because the preliminary marketplace for rolling out their preliminary use circumstances. With the fourth largest inhabitants globally, Indonesia is projected to have the fourth largest GDP by 2040 behind solely China, India, and the USA. The potential for progress right here is almost unparalleled.

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

About Mandala Chain

Mandala Chain secured a Polkadot Parachain in April 2024 with over $1.2M bonded by the general public on the time of public sale. Testnet will likely be dwell in June, and a token technology occasion is deliberate for September 2024, strategically timed for when Mandala Chain will likely be a co-title sponsor at Coinfest, certainly one of SE Asia’s largest Blockchain conferences.

ContactCo-FounderMathew PaulMandala Chaindata@mandalachain.io

This text was initially printed on Chainwire