To boost innovation and adoption of blockchain technology beyond fintech, Singapore’ agency, the Infocomm Media Development Authority (IMDA) launch its very first Blockchain Challenge. Blockchain technology is expected to grow quickly, with a potential compound annual growth rate of up to about 79% from 2017 to 2022. As such, IMDA’s Blockchain Challenge seeks to accelerate the development of such solutions, and identify possible use cases with greater commercial development.
Participants are invited to choose from 2 project categories to pitch a potential solution: (1) Enterprise or (2) Transformation. Shortlisted projects must then work on a Minimum Viable Product (MVP) or Proof of Concept (POC), with successful projects receiving prizes of S$50,000 for Enterprise or S$100,000 for Transformation.
Interested applicants may refer or apply online. The first round of proposals will close on 28 May 2018.
Separate to the challenge, IMDA is also keen to work with (a) companies interested in trialing blockchain or distributed ledger technology within their environment for further use case identification and sector identification; (b) blockchain or distributed ledger technology companies who wish to work with IMDA. Such companies may reach to IMDA.
So, what are you waiting for? Join now!