EU Officials Reveal €5 Million ‘Blockchains for Social Good’ Contest

The European Commission is seeking submissions for a new blockchain development contest – and it’s offering a €5 million top prize.

The European Union’s executive arm revealed the details of the blockchain contest this week, dubbed “Blockchains for Social Good”, which it first quietly revealed back in August. The competition seeks entries from those who can propose solutions for public issues, leveraging the technology to provide a mix of greater transparency and decentralization.

Winning entries must have a clear social impact, be decentralized while allowing for transparency, and still be both useful and scalable, according to the contest webpage. The commission is specifically hoping for a novel distributed ledger technology (DLT) application which can demonstrate viable use cases, according to the page.

Officials said: […]

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