Mandala Chain Unveils Its First Use-Case IDCHAIN, Targets 10M New Digital Wallets In Indonesia
In Brief
Mandala Chain revealed details of its initial collaborations and use cases, highlighting its first application, IDCHAIN.
Blockchain project on the Polkadot network, Mandala Chain, revealed details of its initial collaborations and planned use cases. The first application, called IDCHAIN, is being developed in partnership with the organization that manages Indonesia’s top-level .id web domain. This initiative has the potential to bring more than 10 million new digital wallets to users in Indonesia, which could significantly impact the way people verify their identities online.
IDCHAIN is a software application built on Mandala Chain, aimed at establishing a secure system for managing digital identities on the .id domain, allowing users to store their identification documents electronically and interact with online services provided by government agencies and businesses.
The potential implications are profound. Over 100 million unique local users currently access websites with the second-level domains .go.id which are used by Indonesian government websites and .co.id which is used by Indonesian businesses and banks. IDCHAIN enables these domains to function as web3 portals that prompt users to create their digital ID when interacting. Applications of this technology span various sectors, such as banking, healthcare, insurance, and academic institutions.
In addition, IDCHAIN forms a crucial data infrastructure layer for Mandala Chain that will support the development of new Mandala Chain use cases. A number of pilot projects across banking, healthcare, gold tokenization, infrastructure, and product authenticity will leverage the technology stack for other decentralized applications (dApps) and Layer 2 networks to launch on the Mandala Chain.
“We are firm believers that the next wave of blockchain adoption comes from emerging markets through real-world utility,” said I Gede Putu Rahman Desyanta, Founder of Mandala Chain to MPost. “Our wide-ranging partnerships and use cases are turning that vision into reality,” he added.
Mandala Chain Secures Polkadot Parachain Slot, Gears Up For Testnet Launch And Token Generation Event
Mandala Chain is a blockchain project designed to connect and facilitate interaction between emerging and established global blockchain markets. Indonesia is the first country where the Mandala Chain is being implemented, where strategic resources and collaborations will give the project advantages that can be further leveraged to expand into broader markets.
Mandala Chain successfully secured a Polkadot Parachain in April 2024. During this auction, the public contributed over $1.2 million to support the project. Mandala Chain’s testnet is scheduled to launch in June 2024. Additionally, Mandala Chain plans to distribute its own cryptocurrency during the Token Generation Event (TGE) in September 2024.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
