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CORDIS

The distributed Blockchain middleware that allows business worldwide to build business solutions with Blockchain technology

Project description

Building a blockchain future for all businesses

A new technology that makes it possible for large groups of people or organisations (who may not know or trust each other) to collectively agree on and permanently record information, blockchain is making big waves. It has the potential to revolutionise how we share information and carry out transactions online. The EU believes that (when properly used) blockchain can provide significant benefits to European industry, economy and society as a whole. In this context, the EU-funded SettleMint project is developing a middleware solution (MINT) that can make it easy for companies to plug in on the blockchain technology. MINT has already been tested across different sectors – from banking to insurance to energy.

Objective

The blockchain technology is a very recent and is considered as the 4th Industrial Revolution. According to a global market survey by Juniper Research (2017), 60% of the large corporations are considering blockchain deployment during the next 2 to 10 years.
In addition, reports by the World Economic Forum (2017) reveal that more than 30 governments and 90 central banks are currently investing in blockchain, and more than 80% of banks are planning to initiate blockchain projects in the very near future.
The challenge, however, lies in a complexity of blockchain technology itself, as most organizations don’t have enough IT personnel & knowledge to deal with this digital transformation.
The specialized blockchain developers are very scarce - only approximatively ten thousands worldwide – and the training trajectory takes approximatively 18 months. This lead-time potentially means high investment costs and impacts on the competitive advantages.
At SettleMint, we bridge the gap between enterprise and blockchain technology by providing a middleware solution – MINT - that makes it easy for companies to plug-in on the blockchain technology in a few weeks’ time.
SettleMint has been established in 2016 in Leuven, Belgium by Roderik van der Veer and Matthew Van Niekerk who combined their expertise and passion for business and technology.
We have tested MINT across different sectors from banking, telecom, insurance to energy. We are now in a truly scale-up phase and we internationalize in fast pace.
Our MINT technology has been recognized by numerous awards, prized and media coverage.
Within this SME Instrument proposal we want to achieve a set of objectives to increase visibility of the company in the international markets, scale in sales and significantly increase headcount up to 244 professionals by end of 2022.

Call for proposal

H2020-EIC-SMEInst-2018-2020

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Sub call

H2020-SMEInst-2018-2020-2

Coordinator

SETTLEMINT
Net EU contribution
€ 1 807 750,00
Address
DIESTBRUGSTRAAT 165 B
3071 KORTENBERG
Belgium

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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
Vlaams Gewest Prov. Vlaams-Brabant Arr. Leuven
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 2 582 500,00