€5m in prizes for social innovators using Blockchains to develop decentralised solutions

€5 million in prizes will be awarded to innovators that use Blockchain technology for social good

The European Commission has launched a new Horizon 2020 Prize which will award innovators for using Blockchain technology to develop decentralised solutions bringing about positive social change.

This European Innovation Council Horizon Price rewards the development scalable, efficient and effective decentralised solutions to sustainability challenges which exploit the Distributed Ledger Technology used in Blockchains. 

The objective is to stimulate the development of out-of-the-box multidisciplinary solutions to social challenges in areas such as support of fair trade, increasing transparency in production processes, decentralising data governance and enhancing privacy, improving accountability and contributing to financial inclusion.

Carol Moedas, Commissioner for Research, Science and Innovation said, “EIC Horizon Prizes, funded under the EU’s research and innovation programme Horizon 2020, will reward the best outside-the-box ideas that can solve a major problem facing society.

The blockchain technology is already transforming the world of finance, and I look forward to seeing revolutionary decentralised solutions to innovation challenges in many domains”.

Individuals, social entrepreneurs, civil society organisations, research centres from technological and social disciplines, creative industries, students, hackers, start-ups and SMEs are invited to apply.

Applications must be submitted before the 25 June 2019 and detailed rules of the contest will be available in February 2018.