€5 million prize for innovations that use blockchain technology for social good
The European Commission will award 5 prizes of €1 million each to social innovations as part of the Horizon Prize on "Blockchains for Social Good". The prizes will be awarded to innovators that use blockchain technology to bring about positive social change, including for support of fair trade, allowing transparency in production processes, decentralising data governance and enhancing privacy, enabling accountability and contributing to financial inclusion. This prize encourages the development of scalable, efficient and effective solutions using Distributed Ledger Technology (DLT), the ground-breaking digital technology supporting decentralised methods of consensus reaching or transactions.
The official launch took place in Turin, Italy on 14 December 2017. The prize is the third of six European Innovation Council (EIC) Horizon Prizes and funded under Horizon 2020. Detailed rules of contest will be available in February 2018, and the deadline for applications is 25 June 2019, in order to allow applicants to demonstrate the viability of their ideas in practice.TOP