A tech unit on the European Fee has awarded hundreds of thousands of {dollars} to a number of blockchain initiatives in an effort to assist the usa
A tech unit on the European Fee has awarded hundreds of thousands of {dollars} to a number of blockchain initiatives in an effort to assist the usage of blockchains in socially useful methods.
The European Innovation Council, or EIC, has awarded 5 million euro ($5.6 million) to 6 blockchain initiatives inside its “Blockchains for Social Good” program.
Asserting the information on Tuesday, the EIC famous that the prize intends to advertise blockchain growth in areas of traceability, honest commerce, monetary inclusion, and decentralized round economic system.
The awarded startups embrace Dutch content material authenticity agency WordProof, British startup PPP, finnish GMeRitS, Oxfam’s UnBlocked Money Mission OXBBU, French e-commerce platform CKH2020, and an Italy-based digital market undertaking, PROSUME.
All the winners have introduced their initiatives in open supply. The EIC famous:
“It’s price declaring that one of many necessities of the Prize was to submit options developed in Open Supply. It will allow extra innovators to learn from the superior technological options developed by the prize winners and the opposite members within the Prize.”
Areas of blockchain purposes turned out to be wider than the EIC anticipated
Based on the announcement, a complete of 176 members have utilized for the award program because it was opened in Could 2018. Functions got here from 43 international locations, with 19 of them arriving from outdoors the European Union, the EIC mentioned.
Closed on three Sept. 2019, this system initially sought to award 1 million euro to 5 initiatives in 5 totally different social innovation areas, the group famous. Nonetheless, the EIC ultimately determined to fund six initiatives, extending the scope of the Prize to 6 totally different areas and splitting equally the fifth prize, the group defined.
The winner focuses on blockchain use towards pretend information
WordProof, the primary undertaking on the EIC’ winner listing, tweeted that the undertaking acquired a $1 million euro prize. “The European Fee has simply rewarded WordProof with 1,000,000 euro by successful the ‘Blockchains for Social Good’ contest,” the Amsterdam-based startup wrote.
Dedicated to preventing plagiarism and pretend information with assist of blockchain, WordProof not too long ago acquired € 275,000 ($308,700) financing from Noord-Holland Innovation Fund for the event of applied sciences to raised shield knowledge on the Web.
The European Innovation Council was launched by the European Fee to assist “high-risk, high-impact concepts, turning science into new enterprise” and accelerating innovation. Launched in 2017, the EIC is presently on the pilot stage and is predicted to be totally applied in 2021. Not too long ago, EC’s head of the digital innovation and blockchain unit, Pēteris Zilgalvis, highlighted makes use of of blockchain tech in communication between member states and fostering crypto innovation.