The EU has awarded €1.8mn to 15 startups to help tackle online misinformation, fraud, and fake identities with blockchain-based technologies.
The grant funding is part of the NGI TrustChain initiative, which focuses on building a more decentralised, trustworthy, and user-centric internet by supporting innovations in blockchain.
To date, TrustChain has provided over €4.5mn in funding to 43 companies.
Among the initiative’s key targets is the protection of human rights and democratic processes in online spaces. Both are threatened by misinformation and fake identities — be it through distorted information, manipulation, or even weaponisation.
“Misinformation and deepfakes are inescapable in this time of elections and conflicts. We’re funding blockchain and other tamper-resistant technologies from top new startups to increase trust in democracy,” Dr Rajarajan Muttukrishnan, Professor and Director of the Institute of Cyber Security at City, University of London, told TNW. Part of TrustChain’s core team, he’s leading the initiative’s funding calls.
Selected from a pool of 162 applicants, each of the newly-awarded startups will receive up to €117,000 in funding. The winners come from 10 European countries, including the Netherlands, Germany, and France.
Their solutions range from cryptography and data aggregation platforms to open-source IT tools and Web3 computing.
“These startups are also exploring ways of utilising the C2PA open technical standard,” Dr Muttukrishnan said. This enables creators, publishers, and consumers to trace the origin of different types of media.
“The ability to validate the images and text to prove the authenticity of the media files will help to protect against malicious content utilised for propaganda, political gain or other malicious activities online such as radicalisation, online harm, and terrorism.”
Below are the 15 finalists:
- ZKorum (France): Creates open-source tools to make online social interactions more inclusive, promoting inclusivity and democracy.
- AI-MetaBloQ (Greece): Provides IT solutions for the life science industry, managing data and offering valuable services to integrate various entities within the sector.
- Compellio (Luxembourg): Offers global infrastructure to help organisations transition from Web2 to Web3 computing.
- Forkbomb BV (Netherlands): Develops components and solutions to make cryptography more accessible to everyone.
- ENISMARO (Italy): Provides a comprehensive solution to track the food production process, ensuring transparency for all parties involved and consumers.
- Arsys Internet (Spain): Builds a data aggregation platform to encourage data sharing and create high-quality datasets.
- Acurraent UG (Germany): Helps small and medium-sized enterprises restructure, digitalise, and grow, focusing on UX/UI and Web3 research.
- In Trade 4 You (Italy): Assists micro, small, and medium-sized businesses in accessing international trade opportunities.
- QX by Qpick (Poland): Enhances customer experiences and loyalty with a blockchain-based travel wallet and digital ID.
- Digital Democracy World (Sweden): A non-profit organisation dedicated to supporting and promoting effective democratic organisation at all levels.
- Pavlos Efraimidis (Greece): Aims to create FLORA, an ovulation tracking app using Federated Learning to prioritise transparency and user privacy.
- City and Me doo Nis (Serbia): Provides digital solutions for interactive and sustainable communities.
- Gheorghe Asachi Tech, University Iasi (Romania): Offers a trustworthy open-source platform to nurture ideas, projects, and business plans.
- SecureOpinion (United Kingdom): Employs decentralised blockchain technology to create a secure platform for sharing public opinions on social media, promoting trust and transparency.
- Neuron AI (Greece): Develops artificial intelligence solutions in the EU and globally.