Sony Launches Blockchain Innovation Challenge

Tech giant Sony has partnered with Matchi, a matchmaking firm that connects fintech innovators and businesses, on a blockchain competition called the FinTech Innovation Challenge.

The event requires participants to design blockchain-based solutions to tackle various challenges in the six different industries; Web Bank Interaction for high Net Worth Individuals; Financial Services for Travelers; Entertainment; Education/Financial Management Services for Youth; Client Engagement for the Underbanked/Underinvested; Super Smart Authentication.

The Entertainment category of the competition is challenging participants to design solution applicable to the music and movie industries.

“Recommended focus areas are: Content Creation, Equipment Lease, Crowd Funding, Demand Prediction, Right Management and Ticket Distribution”

The Client Engagement category seeks to find solutions that will entice Japanese consumers into investment products.

“We are looking for innovations to promote more engagement around additional financial products e.g. investment portfolios.”

The challenge officially started on the 22nd of January and entrants will have until the 17th of February to submit their PoC (Proof-of-Concept) designs.

The winner in each category will have the chance to present their project to a panel of judges from Sony on the 17th of March. The final winner will be able to continue working on their blockchain project with Sony.

“From there, at least one innovation will be announced as the ultimate winner and that firm will continue through to the PoC project phase within Sony.”

Image credit: 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.