EU Awards €1.8 Million to Blockchain Pioneers in Misinformation Battle

The European Union has allocated €1.8 million to 15 pioneering startups, empowering them to tackle online misinformation, fraud, and fake identities through advanced blockchain technologies. This funding initiative is part of the broader NGI TrustChain project, which aims to foster a decentralized, trustworthy, and user-centric internet.

TrustChain’s Expanding Impact

The NGI TrustChain initiative has, to date, channeled over €4.5 million into 43 companies, underlining its commitment to revolutionizing the digital landscape. Among its primary objectives is the safeguarding of human rights and democratic processes in the digital realm, which are increasingly jeopardized by the spread of misinformation and the manipulation of identities.

Combatting Misinformation in a Digital Age

In an era marred by misinformation and deepfakes, especially during elections and conflicts, the need for tamper-resistant technologies is paramount. “We’re funding blockchain and other tamper-resistant technologies from top new startups to increase trust in democracy,” stated Dr. Rajarajan Muttukrishnan, Professor and Director of the Institute of Cyber Security at City, University of London. As a key member of TrustChain’s core team, Dr. Muttukrishnan oversees the initiative’s funding allocations.

Selection of Innovators

From a competitive pool of 162 applicants, 15 startups emerged victorious, each securing up to €117,000 in funding. These innovative entities hail from 10 European countries, including the Netherlands, Germany, and France, and are poised to deliver groundbreaking solutions ranging from cryptography and data aggregation platforms to open-source IT tools and Web3 computing.

Embracing the C2PA Standard

“These startups are also exploring ways of utilising the C2PA open technical standard,” Dr. Muttukrishnan noted. This standard empowers creators, publishers, and consumers to authenticate the origins of various media types, thus fortifying defenses against malicious content used for propaganda or other nefarious purposes online.

The Finalists

ZKorum (France): Develops open-source tools to enhance inclusivity in online interactions, fostering democratic engagement.

AI-MetaBloQ (Greece): Offers IT solutions for the life sciences sector, facilitating data management and integration.

Compellio (Luxembourg): Provides infrastructure to assist organizations in transitioning from Web2 to Web3 computing.

Forkbomb BV (Netherlands): Creates components to make cryptography accessible to all.

ENISMARO (Italy): Delivers transparency in food production processes.

Arsys Internet (Spain): Builds data aggregation platforms to enhance data sharing and quality.

Acurraent UG (Germany): Aids SMEs in digitalization and growth through UX/UI and Web3 research.

In Trade 4 You (Italy): Helps micro, small, and medium businesses access international trade opportunities.

QX by Qpick (Poland): Enhances customer experiences with a blockchain-based travel wallet and digital ID.

Digital Democracy World (Sweden): Supports effective democratic organization.

Pavlos Efraimidis (Greece): Develops FLORA, an ovulation tracking app prioritizing transparency and user privacy.

City and Me doo Nis (Serbia): Provides digital solutions for sustainable communities.

Gheorghe Asachi Tech, University Iasi (Romania): Offers a trustworthy platform for nurturing business ideas and plans.

SecureOpinion (United Kingdom): Utilizes decentralized blockchain for a secure public opinion platform.

Neuron AI (Greece): Develops AI solutions for the EU and global markets.