Smart Dubai Launches Second Round of Global Blockchain Challenge
The Smart Dubai Office (SDO) is partnering with the global innovation network “Union” to organize the second round of the Global Blockchain Challenge. This challenge aims at sourcing strong and innovative blockchain startups from around the world to contribute to the implementation of the Dubai Blockchain Strategy 2020.
Her Excellency Dr Aisha Bint Butti Bin Bishr, SDO Director General, stated, “Our main objective at Smart Dubai is not technology itself, but rather its potential to improve peoples' lives. Our vision is to build a smart city centered around the happiness of its citizens. Blockchain technology facilitates transactions for people, saving them time and effort, and bringing us closer to making Dubai the smartest and happiest city in the world.”
The deadline for submissions has been set for April 1, 2018, and selected startups would be announced by April 5. The shortlisted teams will be invited to come to Dubai (for an all-expenses paid trip) on May 1 and begin training with Union. The final Blockchain Challenge Presentation and Awarding Ceremony is scheduled to take place on May 3, 2018.
Finalists of the challenge will travel to Dubai to participate in a training program followed by a pitch competition in front of an audience of investors, experts, private and public institutions. Three winners will be chosen to receive first, second, and third place money prizes of $20K, $15K and $10K, respectively, and the opportunity to implement their product or service in Dubai.
“Opportunities like the Blockchain Challenge open new doors for startups to succeed and for government to bring innovative solutions to its operations. Union has over 12,000 startups on the platform and thousands more in its expansive network,” said Evan Burfield, CEO at Union. “We’re thrilled to be partners for this important challenge and to facilitate the connections between Smart Dubai Office and the entrepreneur ecosystem to find the best ideas for their blockchain strategy.”
Last year, the first round of the Global Blockchain Challenge witnessed 21 shortlisted startups fly to Dubai from 18 cities from 15 countries. The submitted ideas spanned blockchain applications in a wide range of sectors from energy, real estate, asset management, payments, education, healthcare, and supply chain management to social behavior. Participating startups have since had the opportunity to pilot their cutting-edge blockchain solutions in Dubai. For example, Educhain, one of the winners of last year’s challenge, had great success by signing the largest blockchain education contract.
To take part in the second round of the Global Blockchain Challenge, startups need only to submit their applications before April 1st here.