Blockchains for Social Good
The EU awards €5 million to decentralised solutions based on blockchain technologies which tackle social innovation challenges
- November 23, 2018 21:30, 836 impressions
- Aseniya Dimitrova
The digital revolution has led to the creation of highly centralised platforms, such as social networks, search engines or clouds. Among others however, they are related to risks of exposure of users’ private and personal data to commercial or political misuse.
Blockchain technologies are therefore seen by the European Commission as able to support decentralised methods for sharing, storing and securing transactions and other data securely across a distributed network such as the internet, thus enabling citizens to retain control over their personal data without intermediary.
Examples of social innovations in which decentralised solutions have shown clear benefits over conventional centralised platform solutions include:
- Ensuring fair trade conditions by traceability of production processes over the whole supply chain;
- Increasing transparency in public spending;
- Improving democratic decision-making and citizen participation;
- Stimulating collaborative economy – by harnessing decentralised social networks or platforms managing property or education records;
- improving prospects of social inclusion by developing tools such as social currencies, etc.
In order to be granted an award of 1 million euro, the solutions should have clear positive impact on society, environment and/or economics; should lead to improvements in transparency, accountability, privacy. Solutions must be usable by all and inclusive, applicable on a large scale and have European added value. A total of 5 projects will be funded.
This challenge is open to individuals, social entrepreneurs, civil society organisations, research centres from technological and social disciplines, creative industries, students, hackers, start-ups and SMEs.
Applications are due by June 2019.
Source: European Commission