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During the event
The Global Blockchain Challenge, organized in partnership with the Dubai Future Accelerators (DFA), is promoted by the Dubai Future Foundation (DFF).
The challenge seeks to source innovative Blockchain start-ups from the world and bring them to Dubai, which, in turn, further establishes the international capital for Blockchain technology.
World Championships, taking place on April 2-3, 2019, at the Dubai World Trade Center, where teams shortlisted in the preliminary stages will be as to Dubai and begin training with DFA ahead of the final Blockchain Challenge Presentation and Awarding Ceremony. Earlier in May 2018, the Future Blockchain Summit attracted 8,143 attends, 140+ speakers, and more than 130 start-ups and entrepreneurs from 130 countries.
The objective of the development of the Dubai Blockchain Strategy 2020, which was announced by Smart Dubai and the Dubai Foundation to make the first Blockchain-powered city by 2020.
Her Excellency Dr Aisha Bint Butti Bin Bishr, Director General of Smart Dubai, said: "Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. Guided by the vision of our leadership, the emirate has become synonymous with bravely embracing avant-garde technologies and utilizing them.
"To build a truly smart city," H.E. continued, "we must establish and empower a holistic Blockchain ecosystem. This includes the advanced infrastructure for the technology to thrive, but also, and to become more talented and ambitious individuals and start-ups and empower them to implement their innovations – and that is the essence of the Blockchain Challenge, which now holds its third instalment. "
H. E. Dr Aisha added: "The competition allows us to source highly skilled individuals with innovative and ambitious ideas, and bring them to Dubai where they can pilot their projects to channel. The building of the ecosystem is a paperless government by the year 2021, as well as a key requirement for a successful implementation of the Dubai Blockchain Strategy, launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, in October 2016. "
For his part, H.E. Wesam Lootah, CEO of the Smart Dubai Government Establishment (SDG), noted: "Dubai is ambitious plans to create a local and thriving industry around Blockchain tech and business opportunities in the process. This became evident in Dubai, in terms of attracting foreign direct investment and other competitiveness criteria. "
"The Global Blockchain Challenge allows us to attract start-ups and companies from the world to pilot and implement their ideas in Dubai, which, in turn, opens new prospects for Blockchain applications that improve people's lives," H.E. Lootah asserted.
H. E. Khalfan Belhoul, CEO of Dubai Future Foundation, said: "We, at the Dubai Future Accelerators, work on providing an ecosystem to support innovation, encourage entrepreneurs, and incubate start-ups who have a main purpose of using advanced and emerging technologies such as Blockchain to develop and enhance government services. Our efforts also focus on promoting Dubai as a test bed for new innovations and new emerging technologies, whereby products and services are being pre-legal and pre-market internships. "He added the Global Blockchain Challenge is a global platform, a perfect setup for start-ups from the world to present their ideas and projects.
Finalists in the Global Blockchain A competition in five-day program, which includes an introduction to the UAE and a competition in the country, pitch presentation training, and finally a pitch competition that will be held as part of the Future Blockchain Summit, to an audience of investors, experts, private and public institutions. Three winners will be chosen as the first, second, and third place prize money of $ 20,000, $ 15,000 and $ 10,000, respectively, and the opportunity to implement their product or service in Dubai.
Last year, a prize pool of $ 45,000 went to three winners, who were selected from among 17 finalists from 14 countries – in turn shortlisted from 200 applicants. The winning start-ups were Ireland's AID Tech in the first place, with the UAE's Smart Crowd and the USA's Codex rounding up the top three.
The Dubai Blockchain Strategy revolves around three main pillars: First, increasing government efficiency by transferring to the applicable government transactions to the Blockchain network; second, creating a blockchain industry and ecosystem; and finally, leading the thinking and advancement of Blockchain technology around the world. The Blockchain Challenge will contribute to the strategy by creating the most innovative blockchain ideas from start-ups around the world and bringing them to Dubai.
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