European Union recently rewarded six blockchain / distributed ledger technology (DLT) projects, showing its interest in teams that aim to solve sustainability challenges.
The European Innovation Council (EIC), has awarded EUR 5 million (USD 5.7 million) to six winners of its call to propose ideas for “scalable, deployable and high-impact blockchain solutions for societal challenges.” Though there were originally supposed to be five winners, two participants were tied, thus splitting the reward money.
EIC was introduced by the union’s executive branch, the European Commission, to support the commercialization of “high-risk, high-impact” technologies in the European Union.
Closing the call in September 2019, the organization received 176 applications from 43 countries. 10% of the proposals came from individuals, 10% from public institutions, and nearly 80% from startups and small and mid-size enterprises.
Per EIC’s announcement, these winners of the EIC Prize on Blockchains for Social Good are the solutions that “propose blockchain applications for fair trade and circular economy, increasing transparency in production processes and quality information, improving accountability and contributing to financial inclusion and renewable energy.”
The winners in their respective areas are as follows:
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