The most known application of Blockchains is the controversial Bitcoin so far, but this new European prize will explore the unique potential of Blockchains for creating decentralised solutions to societal challenges which are more effective than traditional centralised approaches.
Goal 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, decentralizing data governance and enhancing privacy, improving accountability and contributing to financial inclusion.
The European Commission has launched the new Prize: 'Blockchains for Social Good'. 5 prizes of EUR 1 million each will be awarded to innovators that use Blockchain technology to develop decentralized solutions bringing about positive social change.
Applications must be submitted before the 25 June 2019. The proposals will be subject to public scrutiny and will eventually be evaluated by an independent jury. The detailed rules of contest will be available in February 2018.
Read more at the website of the European Commission.