This round challenge is arranged in collaboration with the Dubai Future Accelerators, holding an initiative at the Dubai Future Foundation. Moreover, the challenges are looking to source groundbreaking Blockchain startups to drive them in Dubai. This will further create the emirate for Blockchain technology as an international capital.
Meanwhile, the competition will take place on April 2-3, 2019 officially at the Dubai World Trade Centre. The event will fall into action at the Future Blockchain Summit where shortlisting teams from the preliminary stages holds an invitation to gather in Dubai.
Moreover, they can start their training with DFA apart from the final Blockchain Challenge Presentation as well as Awarding Ceremony. Back in May at this summit, there were 130+ startups, 140+ speakers, 8,143 attendees, along with entrepreneurs from all over 130 countries.
The Challenge purpose is to determine innovative projects which can easily co-operate in the Dubai Blockchain Strategy 2020 implementation. “Smart Dubai” and “Dubai Future Foundation” announces this strategy to reform Dubai as the initial Blockchain city by 2020. The Director General at Smart Dubai, Dr. Aisha Bint Butti Bin Bishr comments:
Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. However, it follows the vision of our leadership.
The emirate is daily stepping up welcoming avant-garde technologies and using these techs to mobilize an advancing, linking and seamless urban experience for their customer, residents, and visitors. They are targeting to develop a truly smart city with empowerment towards a holistic Blockchain ecosystem.
Mainly this involves creating an advanced infrastructure for new technology to thrive. Also, they are willing to attract talents & ambitions from around the space to implement their innovations. Thereafter, this comes as an essence of this Blockchain Challenge which is currently working on its third installment.
The finalists from the Blockchain Challenge will participate at Dubai in a five-day programme. This event involves:
- An introduction to the UAE culture
- A process to conduct the country business
- Pitch presentation training
- Pitch competition (a part of the Future Blockchain Summit)
This will be applicable to an audience of experts, investors, private as well as public institutions. Amongst the finalists, only three winners will be selected as the first, second, and a third place prize money. They will get $20,000, $15,000 and $10,000 amount as a price respectively. Moreover, they get a chance to implement their product/service in Dubai. Also, this Blockchain Strategy at Dubai revolves almost three main pillars:
- By transferring the majority of applicable transaction across the blockchain network will enhance government efficacy
- It will create a blockchain industry with an entire ecosystem
- This summit will lead the usage and advancement regarding Blockchain technology all over the space
The Blockchain Challenge is helping contribute the industry creation pillar with its strategy by determining the core innovative Blockchain ideas and drive them to Dubai.
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