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BLOCKCHAIN TECHNOLOGIES FOR SMEs

Project description

Blockchain technology offers big benefits for small businesses

Blockchain technology and distributed ledger technologies (DLTs) are developing rapidly. They have been extremely successful in the field of finance, authenticating transactions. Yet despite their benefits, the transition to DLTs has been slow and arduous in small and medium-size enterprises. Lack of knowledge makes them reluctant to make the shift, requiring SMEs to become more sensitised to the transition. To that end, BLOCKCHERS aims to fund up to 30 tech-based SMEs, providing training, team work sessions and community building activities. Recommendations for policy action will also be provided by BLOCKCHERS as part of its bid to create smarter regulations within the European Union.

Objective

Blockchain and DLTs have a limitless potential for use cases across all industries. They streamline business processes and offers a great potential for reducing costs and complexity, offering high level of transparency and trustworthiness. Despite of the potential benefits, their uptake is low, even more among the SMEs, making the transition to DLTs slow and arduous due to: -Sectors in which DLTs make sense, besides fintech, are those in which existing traditional SMEs do not have enough knowledge on how DLTs work nor their potential uptake. -Traditional SMEs (and stakeholders in general) need to be sensitized to uptake the technology in their verticals. Lack of knowledge makes them reluctant to technological changes. -A regulatory framework should foster the uptake and prevent from fraudulent actions. Uncertain regulation limits companies’ scope of action and imply a risk for their growth. To overcome it, BLOCKCHERS’ concept aims at: -funding up to 30 tech-based SMEs in 2 open calls, providing real use cases implementation engaging at least 30 traditional SMEs (end users uptaking DLTs with a technology provider) -providing training, team work sessions and community building activities, to achieve a better understanding and acceptance of DLTs among SMEs. -mapping & monitoring relevant initiatives to build a community to solve the information gap between regulators and DLT developers, providing recommendations for policy action as a way to create a smart regulation in the EU. 4 top-skilled organisations gather to address these challenges: ZABALA, coordinator and expert on cascade-funding and innovation services provision to SMEs EU-wide. Innomine, expert on acceleration and piloting/use cases in the CEE market for the DIHs. Frankfurt School Blockchain Center (FSBC), recognized expert on providing DLTs training and organizing major events on blockchain. Alastria, the first public-permissioned Spanish DLT network promoted by corporations, available for BLOCKCHERS.

Call for proposal

H2020-INNOSUP-2018-2020

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Sub call

H2020-INNOSUP-2018-03

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Coordinator

ZABALA INNOVATION CONSULTING SA
Net EU contribution
€ 1 047 125,00
Address
Paseo santxiki 3 bis
31192 Mutilva alta navarra
Spain

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Noreste Comunidad Foral de Navarra Navarra
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Other funding
€ 0,00

Participants (3)