3 Blockchain Projects Win E&Y Startup Challenge

A startup contest hosted by professional services firm Ernst & Young ended with three blockchain companies receiving honors.

The six-week E&Y Startup Challenge accepted six blockchain-focused startups in September, which focused on two application areas for the tech: digital rights management and energy transfer.

Bitcoin mining firm The BitFury Group receiving an award for “Best Pitch” after it developed a blockchain-based tool for digital rights management. Smart contracts startup Adjoint won “Most Investable Pilot” with a platform for creating smart contracts while JAAK won an award for “Most Innovative Pilot” after it developed an operating system, based on Ethereum, that was focused on digital content management.

Those spearheading the E&Y event say that the next steps include continuing to hone their concepts, with an eye to potentially move products to market in the months or years ahead.

Jamie Qiu, founder and lead of the EY Startup Challenge, said in a statement:

“Media and energy are two sectors where we expect to see the most disruption over the next few years and blockchain is a reality that can transform these two industries. We are looking forward to continuing our work with these fantastic entrepreneurial businesses over the next couple of months and helping them accelerate and commercialise their solutions.”

Blockchain startups Blockverify, BTL Group and Tallysticks also took part in the event.

Image via Shutterstock

Correction: This article has been updated to correct the spelling for 'JAAK'.