Dubai Launches Startup Challenge to Become the World's First Blockchain-Powered City
The Smart Dubai office has just announced the closing of its Blockchain challenge, set to turn the city into a fully blockchain-powered pioneer. Here's the 3 game-changing startups that took home the awards.
The Blockchain technology is almost a new type of internet, which allows the distribution of digital information without copying it. Although originally created for digital currency and bitcoins, the tech world took notice of its potential other uses, dubbing it the future of data exchange.
Embracing this new technology is the Smart Dubai office, which this year launched the Blockchain challenge together with startup accelerator 1776 Dubai. The Hackathon invited startups and initiatives worldwide to share their gamechanging ideas using this technology to advance smarter cities. The challenge - running its second edition - invited 21 competitors to the semi-finals today, announcing the three winners taking Dubai one step closer to being a Blockchain powered city.
The winners were tackling global problems related to education, renewable energies, and FinTech, such as Sun Exchange, a South African platform to manage solar energy projects; Everledger, which uses technologies to protect and reduce the risk of fraud on banks, insurers and open market places and Educhain, an educational platform that allows users to issue and authenticate official credentials.
First Place goes to Sun Exchange, a solar energy finance mgmt platform, winning $20,000. Congratulations! #BlockchainChallenge pic.twitter.com/cRhIxqgVrt
— 1776 Dubai (@1776Dubai) May 30, 2017
Photo Credits: StaticFlicker license under Creative Comments.
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