A Dutch project fighting fake news with blockchain wins European Commission’s “Blockchains for Social Good” prize.
A tech unit at the European Commission has awarded millions of dollars to several blockchain projects in an effort to support the use of blockchains in socially beneficial ways.
The European Innovation Council, or EIC, has awarded 5 million euro ($5.6 million) to six blockchain initiatives within its “Blockchains for Social Good” program.
Announcing the news on Tuesday, the EIC noted that the prize intends to promote blockchain development in areas of traceability, fair trade, financial inclusion, and decentralized circular economy.
The awarded startups include Dutch content authenticity firm WordProof, British startup PPP, finnish GMeRitS, Oxfam’s UnBlocked Cash Project OXBBU, French e-commerce platform CKH2020, and an Italy-based digital marketplace project, PROSUME.
All of the winners have presented their projects in open source.