The competition supports the integral ‘Industry Creation’ pillar of the Dubai Blockchain Strategy 2020, which is being driven by Smart Dubai
The winners of the second edition of the Smart Dubai Blockchain Challenge, one of the leading global blockchain startup challenges, were announced at the inaugural Future Blockchain Summit today. AID:Tech an innovative blockchain startup from Ireland took the top spot, winning US$20,000 in prize money. Smart Crowd from the UAE came in second, winning US$15,000; while Codex from USA placed third, taking home US$10,000. In addition, the top three winners will get a chance to meet government leaders, world investors, network with VIPs and connect with potential customers.
“In line with Dubai’s ambition of being a world leader in blockchain and establishing the world’s first city government that runs 100% on the blockchain by 2020, the global Smart Dubai Blockchain Challenge is a pivotal empowerment activity that harnesses the entrepreneurship skills of the private sector. We congratulate the three winners of this year’s challenge that has seen 17 finalists from 14 countries – a statistic that reflects the truly global allure that this competition has generated in the two years it has been running,” said Her Excellency Dr Aisha Bint Butti Bin Bishr, Director General, Smart Dubai.
With a commitment to drive widespread adoption of blockchain solutions, Dubai is unlocking unique opportunities for innovative startups to partner with and shape the future of the Emirate from across sectors including retail and ecommerce, creative economy, healthcare, transportation, education, food, hospitality and tourism, energy, fintech and banking as well as safety and security.
“We are absolutely thrilled to bag first place at the Smart Dubai Blockchain Challenge. This competition has given us a platform to set up in Dubai and invest in growing our team here,” said Joseph Thomson, CEO & Co-Founder of the Dublin headquartered Aid:Tech. “I would urge startups in the blockchain space to create applications that have real-world use cases and solve problems. Blockchain has grown so big today, that we need to be able to demonstrate validity of this technology.”
AID:Tech is the first company in the world to successfully deliver aid to Syrian refugees completely transparently using Blockchain technology. The company issues Digital Identities quickly and efficiently focusing on the delivery of digital entitlements such as aid, welfare & remittance, using blockchain technology. The platform generates rich data sets which governments, NGO’s, and charities can harness to improve how funds, products, and assets are distributed and tracked.
The second edition of the Smart Dubai Blockchain Challenge, which started in February 2018, has seen participation from blockchain startups from 85 cities across the world. Through this initiative, Smart Dubai, the entity entrusted with driving the Dubai Blockchain Strategy 2020, were on the hunt for game-changing applications of blockchain technology in any industry. The Dubai Blockchain Strategy is built on three key pillars: government efficiency, industry creation and global leadership. The Smart Dubai Blockchain Challenge supports the second pillar of ‘Industry Creation’ of the Dubai Blockchain Strategy 2020.
