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The benefit of bleaching powder is that it is a solid. This makes it easier to apply as a disinfectant in medical areas, next to its use as a bleach. When bleaching powder dissolves, it reacts with water to underchloric acid (HOCl) and hypochlorite ions (OCl - ). Bleaching Powder. Bleaching powder is calcium oxychloride. The chemical formula of bleaching powder is CaOCl 2.It is also called chloride of lime. Bleaching powder, white or nearly white powder that is usually a mixture of calcium chloride hypochlorite, CaCl(OCl); calcium hypochlorite, Ca(OCl) 2; and calcium chloride, CaCl 2.