Blockchain Competition from Zug attracts worldwide applications
The Blockchain Competition - the world's highest endowed startup competition for #blockchain4insurance ideas with USD 100,000 - has received more than 80 applications from 25 countries. Applications from all over the world underline the international appeal of Crypto Valley between Zug and Zurich.
The first ever Blockchain Competition has already attracted a great response. The list of participants knows no geographical boundaries: From Russia to Uruguay, from Singapore to Spain. They all want to win the award with their idea on 22 November 2017 in the Zug Theater Casino and collect the prize money of USD 100,000.
Great interest
The applications so far have been submitted by established startups, but also by teams founded specifically for this competition, and the majority come from Europe and North America. Participations also come from Africa (2) and India (3), as well as from the United Arab Emirates. This is a testament to the enormous potential of blockchain technology, especially for these rapidly developing countries.
The great interest in this unique ideas competition is no coincidence. For some time now, an internationally networked ecosystem has been beginning to establish itself in Swiss Crypto Valley. The initiators of the Blockchain Competition - Lakeside Partners and inacta - are both based in Zug and are committed to the further development of Crypto Valley.
Thanks to this year's competition partners Pax, Helsana, Suva, Basler Versicherungen and Mobiliar, the winners of the competition can network with the Swiss insurance industry and develop their ideas together.
100'000 Dollar prize money
Mathias Ruch, Managing Partner of Lakeside Partners, sees advantages and disadvantages regarding the broad range of countries of origin of the applications: "It's impressive where the many applications come from." The organizers were of course aware of the high prize money of 100,000 dollars. The fact that Switzerland, and especially Crypto Valley, is such a hot spot for the international blockchain scene surprised the organizers.
Now it's up to the competition jury to evaluate the many ideas and decide which of them will make it to the final round. "Ideally, we would like to locate them all here in Crypto Valley!", says Mathias Ruch.
The deadline
The deadline for applications has been extended to 22 September. Project coordinator Ian Simpson explains why: "The original deadline of the end of July was a bit sporty for many of the internationally positioned teams due to study work at universities and holiday absences. Many have just finished their studies and can now use the remaining weeks to take part in the competition. And the applications that have already been received will get the chance to develop their idea further."
More about the 1st Blockchain Competition - International Blockchain Competition in Zug can be found here:
