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EU: 5 million euros for Blockchains for Social Good

European Commission will grant 5 million euros to the winners of  Blockchains for Social Good competition. Each of five winners will receive one million euros. The prize aims to develop solutions to social innovation challenges using distribute ledger technology.
The challenge is to develop scalable, efficient and high-impact decentralised solutions to social innovation challenges leveraging Distributed Ledger Technology (DLTs), such as the one used in blockchains. The challenge is targeted at a wide range of actors: individuals, social entrepreneurs, civil society organisations, research centres from technological and social disciplines, creative industries, students, hackers, start-ups and SMEs. 

Timetable:
2018 first quarter – contest opens
2019 second quarter – deadline to submit applications
2020 first quarter – prize awarded

Examples of social innovations in which decentralised solutions based on DLTs have shown clear benefits over conventional centralised platform solutions include, but are not limited to:
- demonstrating the origin of raw materials or products and supporting fair trade and the fair monetisation of labour
- allowing for a greater visibility of public spending and a greater transparency of administrative and production processes
- participation in democratic decision-making by enabling accountability, rewarding of participation and/or anonymity
- enabling the development of decentralized social networks or clouds, or of decentralized platforms for the collaborative economy
- managing property, land registry or other public records
- contributing to financial inclusion