EIC Awards €5 Million to Blockchain Solutions for Social Innovations

 

The European Innovation Council (EIC) awarded more than $5.5 million USD to 6 blockchain projects through its “Blockchains for Social Good” program.

As the EIC reports, the is set to support the blockchain technology development in the spheres like traceability, fair trading, financial services & circular economy. It’s reported that the winners were chosen based on the provided blockchain solutions for social issues.

The list of winners include Amsterdam-based content authenticity company WordProof, Finland-based GMeRitS, based in the United Kingdom startup PPP, Italian online marketplace PROSUME, Oxfam’s UnBlocked Cash Project OXBBU, and France-based e-commerce CKH2020.

The EIC also emphasized that among the Award conditions was to present solutions created in Open Source. As it is mentioned, this can give lots of innovators an option to take advantage of the advanced blockchain solutions created by the participated startups.

Commissioner for the Internal Market, Thierry Breton has mentioned that the participants from over 43 countries across the globe have shown the ability of blockchain technology & its provided “trusted and transparent solutions” for local as well as international problems. Breton added that Europe should support the technological innovation for industrial and sustainability issues.

 

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