Mandala Chain, a Polkadot parachain that unifies public and private sectors through the integration of enterprise and government applications, has announced their initial collaborations and use cases. The first use case, IDCHAIN, is a partnership with the organization in charge of Indonesia’s top-level.id domain. Over 10 million new wallets are expected to be introduced by this massive operation, revolutionizing digital identification in Indonesia.
IDCHAIN: Pioneering Digital Identity Solution
The purpose of IDCHAIN, which is based on Mandala Chain, is to establish safe digital identity infrastructure on the.id domain so that users can store identification documents and communicate with enterprise and government portals.
This has far-reaching effects. There are currently approximately 100 million active unique users on Indonesia’s second-level domains .go.id (government) and.co.id (commercial and banking). These second-level domains are transformed by IDCHAIN into web3 enabled portals that require users to create their digital IDs in order to communicate.
Applications a retransforming several economic sectors in Southeast Asia, including banking, healthcare, insurance, and educational institutions.
For Mandala Chain, IDCHAIN creates a vital data infrastructure layer that will enable a variety of new use cases. Several pilot projects that will make use of the technology stack to enable the launch of further DApps and L2s on Mandala Chain have already been secured. Among them are:
Banking: In order to put data and transactions on the blockchain, Mandala Chain is working with more than 90 banks, adding 40,000 new wallets initially.
Healthcare: Collaborating with more than 20 institutions to secure insurance and medical data on-chain; this is expected to add 900,000 new wallets initially.
Gold Tokenization: Onboarding about 300,000 new users while collaborating with a significant Indonesian gold corporation that has $500 million in gold reserves to explore tokenization solutions.
Infrastructure: An MOU was formed to investigate various blockchain applications with the biggest data infrastructure providers in Indonesia.
Product Authenticity: Working together to produce authentication certificates for artist IP and products, with a target account market exceeding 80 million products.
Awakening Southeast Asia’s Sleeping Giant
Mandala Chain has decided to launch its initial use cases with an emphasis on Indonesia as the target market. Indonesia, which has the fourth-largest population in the world, is expected to have the fourth-largest GDP by 2040, only behind the United States, China, and India. Here is an opportunity for growth almost unmatched.
Blockchain has been given top priority by the Indonesian government as a fundamental component of its Digital Vision 2045 framework. Indonesia has a young, tech-savvy populace that is ready for blockchain adoption, with an average age of under thirty years old. With blockchain adoption exploding, Mandala Chain is positioned to lead the way.
