Graz-based Blockchain Startup Contest has announced the names of the five winners from nearly 80 blockchain-focused startups from 29 different countries.
According to a report from Erste Group, the main sponsor of the contest alongside Steiermärkische Sparkasse and Energie Steiermark, representatives from the top 20 entries were invited to present their projects at a demo day on Monday, November 28. An international jury of five blockchain experts then awarded two 1st and three 2nd places.
The two winning spots went to German competitor Etherisc, who are working on a decentralized insurance solution based on blockchain technology, and Singapore-based Status, an ethereum browser for mobile phones combining messaging, payments, and DApp.
The two startups were chosen based on the criteria timing, team, concept, and business model, with social impact being an additional important assessment point. Each received EUR 5,000, which was transferred in ether to their cryptocurrency accounts.
The runner-up’s included Munich-based Bernstein, which makes it possible to anonymously document the development history of intellectual properties in terms of both content and time; Austria-based Minebox, a decentralized and safe cloud solution in which others’ memory capacities can be used for own backups and own capacities can be offered to others; and Italy-based Helperbit, who are creating a decentralized donation and insurance platform that automatically pays donations and insurance claims based on data from disasters such as earthquakes.
Petia Niederländer, Head of Retail and Corporate Operations at Erste Group and one of the banking group’s blockchain experts, said:
As one of the sponsors of the Blockchain Startup Contest, Erste Group is particularly pleased at the fact that all of the many interesting submissions for this competition have a similarly strong focus on the customer.
Who Are the Winners?
Developed by Christoph Mussenbrock, Etherisc is attempting to provide a one-stop insurance solution for delayed flights. The team recently undertook their first operational application, the FlightDelay, through a fully automated insurance experiment.
After a person has selected their flight and applied for a policy by sending ether to a DApp, that person will then receive an automated and instant payout if their flight is delayed or canceled.
With a team of eight people and headquarters in Singapore, Status is attempting to be more than a mobile wallet.
With high ambitions to connect people to ethereum, it does this by being a browser, messenger, and gateway to the world of ethereum. Whether it’s decentralized apps at a person’s fingertips, smarter messaging or buying and selling ether, Status wants to be a smartphone user’s one-stop for all their needs.
This video shows how an individual can apply for a FlightDelay policy from Etherisc:
Featured image from Shutterstock.