European Commission-Funded Program Awards $5.6 Million to Blockchain Projects
The European Innovation Council (EIC) has awarded €5 million (about $5.6 million) to six winners competing in the Blockchains for Social Good program. The program was meant to encourage the use of blockchain technology for social and economic development.
A statement released by the EIC revealed that a diverse pool of applicants participated in the program. There were a total of 176 applications from 43 countries, and these included international candidates, corporations, and public institutions.
The winning projects worked on improving accountability, increasing transparency in production processes, improving fair trade and circular economy, and contributions to financial inclusion and renewable energy.
