Block.IS organises 4 Challenges to the European community of entrepreneurs. Up to eight (8) SMEs will be selected to participate at each Challenge and two (2) winners per Challenge, in total eight (8) SMEs, will receive 3.000€ and directly enter the INNOVATE phase of the 2nd acceleration process where they will be invited to networking events to showcase their work and get the chance to compete for the full 60.000€ as well as receive mentoring services.
In the logistics industry, there are some areas in which blockchain technology can lead to a fundamental change. Many processes have not changed in decades and still happen on paper. This not only harms our environment but is also slow, expensive, manipulable and out of date. The use of blockchain technology, with all its advantages, could speed up the processes and thereby reduce administration costs as well as ensure the transparency and authorization of the goods.
In times of COVID–19, in which everyone realizes how important functioning supply chains are and entire deliveries in other countries simply disappear, more transparency through secure documentation and authorization should be an absolute priority. The bill of lading is just such a non-transparent process. It has hardly developed over the past 30 years and urgently needs to be replaced by a digital concept. The challenge is to use blockchain to create a secure environment for documentation and authorization of the freight in order to avoid the exchange of papers between buyers, sellers and forwarders along the transport chain.
The Challenge will be held on July 7th. The Application Period will be open until June 30th (17:00 CEST).