Demonstrating the Potential of Blockchain Challenge Fund
If you are based in Wales and blockchain is your thing, 2022 will probably be a great year for you!
Blockchain Connected, a dedicated network of blockchain enthusiasts within the Technology Connected Organisation, has partnered up with the Welsh Government to support six funded applications for innovative blockchain solutions. The online opening event on the 27th January proved to be a great networking experience for the potential applicants of the challenge fund.
In the first part of the event, the hosts (Avril Lewis, Managing Director of Technology Connected and Nicola McNeely, member of the Technology Leadership Council and Head of technology Sector, Solicitor and Partner at Harrison Clark Rickerbys Ltd) took a few minutes to explain what a blockchain is and its basic functionality, which goes a long way to show the inclusivity and communal spirit of the organisation and event itself. Including an introductory part like this creates a welcoming environment for people that are just now getting involved, excites interest, awareness and future involvement.
The main event consisted of three break-out sessions divided by subject of discussion and challenge categories; namely Supply Chains, Circular Economy and Net Zero, and Digital Record and Identity. There, applicants were given the opportunity to discuss the solutions that will later be submitted for funding. Based only on personal interest, I attended the Digital Record and Identity discussion. However, I did manage to catch a glimpse of the Circular Economy and Net Zero session, where some extremely interesting ideas on remodelling plastic bottle recycling using blockchain with a small money return, were unfolding as well.
The Digital Record and Identity break-out session was filled with great ideas. My personal favourite was presented by Gemma Hallett, the founder and CEO of miFuture App, a company that strives for the democratisation of the skills economy in Wales. After considering the large percentage of school leavers who don’t get the opportunity to go to university, Gemma and her co-workers are in the process of building a skills-wallet utilising blockchain technology, allowing people to prove their acquired skills and even train for new ones. Gemma Hallett has envisaged a disruption to the traditional university application procedure and intends to give people an opportunity to access education and employment by simply proving that they’ve got what it takes.
Along with miFuture App, a number of great ideas were presented during the opening event as well, from an internal company application to assist with KYC (Know-your-client), AML (Anti-money-laundering), identification and data permissions. There were also blockchain solutions for the management and tracing of sensitive data crucial in the treatment of patients, where the immutability, transparency and traceability of the system will be a huge improvement both on accountability streams and healthcare delivery.
Overall, the event highlighted the willingness of Welsh organisations to come together and collaborate for future development and utilise the evolution of blockchain technology to effect positive change. As a LegalTech research facility in Swansea, this is the best news we can get! We wish all applicants the best of luck with their funding applications and business ideas!
If you want to learn more about Technology Connected and the Blockchain challenge fund, follow the links below:
https://technologyconnected.net
https://technologyconnected.net/blockchain-connected/challenge-fund/