History

Our company history

ChromaWay is based on the pioneering work done by Alex Mizrahi on colored-coins since 2012 when he made the first implementation. We have kept on working and never given in to short-sighted temptations to fund it by issuing coins or tricking investors. Now we have a great platform, great customers and a great team. We now see a growing interest from the market for concepts we have been thinking about for years, and we think the market will explode. This is just the beginning.

Henrik Hjelte has left his work as a senior consultant in Finance & IT and starts a company in the hot web 2.0 sector. As second developer he finds Alex Mizrahi from a job ad on comp.lang.lisp

Or Perelman is interviewed in the first ever TechCrunch article about Bitcoin. The article mentions a startup Safebit that Or has co-founded that do a user-friendly wallet.

Alex write “In June I've tried to make something interesting with Bitcoin, particularly with a bitcoin futures exchange I've got to coding and got three users testing it, but I didn't know what to do with it further so I've left it.”

Alex writes on bitcointalk, "Colored bitcoins is the shit. Is anyone working on an implementation?"

Signature Phelix writes about marked bitcoins on bitcointalk, this is the oldest reference we have to the origin of the colored-coins idea.

Alex meets Iddo Bentov and they discuss Peercoin and proof-of-activity.

The first standardization attempt. Alex outlines different ways to implement colored-bitcoins, and starts to call them “colored-coins”. Because they can be implemented on other blockchains too, such as Litecoin. Jeff Garzik thinks they should be called “Smartcoins” instead. And Peter Todd suggests “tinted coins” or “tainted coins”

The worlds first colored-coins implementation. On the ctbc branch of bitcoin there is this commit

Alex releases ArmoryX, a colored-coins wallet with peer-to-peer trade support.

In may the first colored-coins web-wallet webcoinx is out.

Coindesk writes an article about the Colored-coins project headed by Alex. While being positive about the potential for colored-coins, “Colored-coins paints a sophisticated future for bitcoin”, the article also mentions problems of running the project as an open-souce project.

“Part of the problem with implementing colored coins, says Mizrahi, is getting developers to work on it. (Ron) Gross agrees. “Unlike Bitcoin, a clear path to monetize the colored coin infrastructure hasn't emerged yet. So, there is relatively little incentive for people for work on colored coin projects,” he says. “As a result,Ripple.com, a direct competitor, has gained significant market share. Ripple.com solves very similar problems to colored coins.”

In the open-source project people talk and register webpages, but not many people help out with the actual coding or funding. Running a low-budget open-source project is frustrating. Sponsorship of the project is not enough to cover wages. Alex writes to Henrik “BTW would you be interested in a digital currency startup?” Henrik joins the project and starts to improve webcoinx. Alex and Henrik starts to look at commercialization options together.

Alex decides to fund the next-generation colored-ooins client himself, with the intention that it should be be a multi-protocol wallet. The realization behind it is that one-size does not fit all.

In may a (by then) closed-source commercial color-coins implementation is released called CoinPrism, effectively ending standardization attempts.

In march ChromaWallet and the protocol EPOBC is used for the issuing shares in a blog.

ChromaWay is founded.

End of stealth mode, the most ambitious bitcoin 2.0 project in the world is released together with LHV Bank, a payment solution for euros.

ChromaWay joins lucky 20 of 800 applicants to join Plug & Plug Fintech Accelerator in Silicon Valley.

Ludvig Öberg joined the team as Head of Business Development

In april, FunderBeam launched their investment platform, built on ChromaWays blockchain technology.

Bryan Vu, previously a Manager at Google in AdSense and Gmail joined the team.

In may, ChromaWay was accepted into OCBCs and NESTs TheOpenVault program in Singapore.

In june, The Swedish Land Registry Lantmäteriet, Telia Company, Kairos Future and Chromaway revealed a project to develop the future of property transactions using smart contracts to manage the transaction and work flow.

Sources:

The colored-coins google group.

The Bitcointalk forum.