Press Release: €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 is taking place today in Turin, organized by the city of Turin and innovation foundation Nesta Italia. The prize is the third of six European Innovation Council (EIC) Horizon Prizes and funded under Horizon 2020, the EU’s research and innovation programme. 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. More information is on the prize page and the EIC pilot website(For more information: Nathalie Vandystadt – Tel. +32 229 67083; Inga Höglund – Tel.: +32 229 50698; Victoria von Hammerstein – Tel.: +32 229 55040)

Source: European Commission

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