Smart Dubai has concluded the third annual Global Blockchain Challenge, part of the Future Blockchain Summit 2019, and selected the top three winners from the USA, Indonesia, and Canada.
The 2019 edition of the Challenge received 700 applications from 79 countries around the world since its launch last January. The judging committee shortlisted 20 entries to compete in the Challenge after completing the preparation and training phase with the DFA. Participating projects covered 20 different sectors including real estate, asset management, payments, energy, education, healthcare, and supply chain management, among others. In the final stage, finalists gave detailed presentations showcasing the Blockchain solutions and projects they had developed. Three entries were then selected as the winners, receiving a total of $45,000 in monetary prizes. Quantstamp from the USA won first prize, while Igrowchain from Indonesia, and Grayblock from Canada, won second and third, respectively.
Smart Dubai’s director general, Dr Aisha Bint Butti Bin Bishr, said: “Now in its third edition, the Global Blockchain Challenge has seen remarkable improvement in the quality and creativity of the submitted projects, which, coupled with the surge in the overall number of applications, clearly underlines its global appeal, as well as the increased appetite for Blockchain technology as a whole. This initiative cements Dubai’s status as a world leader in this advanced sector, and reflects our wise leadership’s commitment to empowering entrepreneurs to put innovative technologies at people’s service in Dubai, establishing the emirate as a full-fledged smart city.”
Dubai Future Foundation’s CEO, Khalfan Belhoul, said: “Participating in such global events further cements Dubai’s position as a global hub for innovation and a testbed for emerging technologies. Attracting and retaining talents and creating future opportunities for those with promising potential is a well-established approach embedded in our DNA at Dubai Future Foundation and is a step towards realizing His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision for Dubai as the leading digitally-connected smart city. Our wise leadership in Dubai have realized early on the need to having a futuristic mindset that will take us into the future. While enormous, this task is achievable through determination, and clarity of vision.”
Launched by Smart Dubai in collaboration with the Dubai Future Accelerators (DFA), the Challenge is one of the initiatives and projects falling under the umbrella of the Dubai Blockchain Strategy, and aims to promote innovative applications of Blockchain technology across various sectors. It seeks to transform the Dubai Government into the first administration in the world to conduct 100 per cent of applicable transactions using an encrypted database by 2020.
Wesam Lootah, CEO of the Smart Dubai Government Establishment, applauded the projects taking part in the Global Blockchain Challenge 2019, saying they “strive to meet the aspirations of the Dubai Blockchain Strategy, reflecting the significant leaps the emirate has made in the sector, which have increased its appeal to Blockchain start-ups looking to work closely with the Dubai Government to develop an integrated Blockchain ecosystem.”
Original Article posted on 3rd of April 2019 in Khaleej Times HERE