Demonstrating the Potential of Blockchain: Challenge Fund
presented by Blockchain Connected
Demonstrating the Potential of Blockchain
Dispelling the myths & exploring the art of the possible
Industry 4.0 is changing the way we all work and live. Technology is enabling this revolution, and blockchain technology has great potential in this new chapter of human development. However, that potential is not yet fully understood.
Brought to you by Blockchain Connected and fully-funded by the Welsh Government, this Challenge will provide an opportunity to explore the art of the possible, raising the awareness of blockchain’s potential to solve key challenges for both private & public sector organisations. Demonstrating the Potential of Blockchain seeks to drive economic, societal and environmental benefits in Wales. We are connecting those who could benefit from this technology and those who can provide it, in order to fund innovative collaborations.
The blockchain challenge fund has closed to applicants and the proof-of-concept period has been completed. Read more about the challenges in our press release.
Who Can Participate
As this is a fully-funded Welsh Government programme, whilst open to participants across the UK and EU, one participant of each collaborative application has to be based in Wales.
For Challenge Owners (Organisations)
This is an opportunity for organisations, both public and private sector, as Challenge Owners to share their key problems with potential blockchain solution providers. In collaboration with your blockchain Innovator solution provider, you can apply to this Challenge fund.
For Innovators (Blockchain Solution Providers)
For this Challenge, we invite blockchain solution providers – Innovators – to identify and collaborate with a Challenge Owner to apply their skills and solutions in new ways to solve their key problems. These collaborative projects between Innovator and Challenge Owner can then apply to have their idea funded.
How to Participate
- Organisations with pressing issues to solve can share problems as Challenge Owners
- Blockchain Innovators can then connect their innovative solutions with Challenges
- Combined, the Challenge Owner and their chosen Innovator will apply with their idea to win funding to build a proof of concept
- Each collaboration must have at least one Wales-based partner to be eligible
- Opening Event 27th January 2022
- Challenge Submissions Close 10th February 2022
- Innovator Ideas Due 28th February 2022
- Application Deadline 21st March 2022
- Pitch Event 29th March 2022
- Proof of Concept Due Q2 2022
Demonstrating the Potential of Blockchain
funding per project
Solving Public & Private Sector Challenges
New technologies represent a fundamental change in the way we live, work and relate to one another. This Challenge aims to deliver small scale, fully funded R&D projects that will provide real-life case studies to evidence how blockchain technology can meet cross-sector challenges.
Participants will apply the versatility of blockchain technologies to key categories, in order to empower essential areas of concern with cutting edge solutions.
Blockchain can provide:
Transparency | Trust | Security | Efficiency | Traceability
Innovative projects outside of these categories will also be considered for funding, as long as they still have the potential to provide positive economic, environmental, and societal impact.
Although many supply chains are able to operate in almost real time, there are key areas where processes and records can be improved. Regulatory requirements and consumer demand are asking for better traceability and security. To combat this, industry leaders are already exploring and implementing blockchain technologies. Are you remaining competitive in the digital world?
A true circular economy in Wales will boost efficiency and profitability as well as help reach environmental sustainability. The ability to track and trace all components of an economy, such as plastic, creates a data challenge. In order to be fully circular, information must be kept throughout all stages with little or no information loss. Could blockchain provide an efficient, immutable solution for all parties to use?
In Wales, our aim is to reach Net Zero by 2050. All sectors need to reduce and eliminate emissions. Long-term well-being for Wales means recognising the limits of the environment and therefore prioritises sustainable solutions. Vitally, only what is measured can be managed. This makes data and records essential for everyone tackling Net Zero. Is blockchain technology the solution?
Digital Identity & Record
Digital adoption has been accelerated by the pandemic and this has huge implications for digital identity and key records in healthcare, education, land registry, and more. Security and trust are key for these areas. Can blockchain provide the answer?