Announcing the Corda Challenge: 5G Finalists!
R3, along with challenge sponsors Amazon Web Services (AWS), Swisscom and Vodafone, are delighted to announce 8 finalists for the 5G challenge. These startups will now head into the final implementation round where they will build out their solutions on Corda.
The Corda Challenge: 5G had over 80 highly innovative applications, and we are delighted with the selected finalists and the solutions to the problems they are solving using Corda and 5G.
The opportunity at the intersection of DLT and 5G
5G connectivity will transform the communications sector and every aspect of our digital lives. From the way that we consume digital content, to the availability of online financial services, and even how medical procedures are delivered, there are a vast array of opportunities where 5G technology can deliver transformational outcomes.
However, the telecommunications sector is not the only player in the success of 5G, as the applicants to the challenge proved, it is the innovative ways that 5G can improve our interactions with physical and virtual objects that will make the features of 5G tangible to end users and enterprise entities.
At R3, we see tremendous value in unlocking the speed and latency advantages of 5G data connectivity by using Corda. This challenge will accelerate the development of these solutions, with sponsors’ industry expertise and support being a guiding factor in helping shorten time to market.
- Agrin Health LLC — Has created a COVID-19 passport that uses Corda to verify the validity of their health data.
- Blocktac — Using Corda to protect against counterfeiting using a mix of physical and virtual devices.
- Parsedata — Has created an application that helps EV owners track how much electricity they have provided to the grid, earn tokens and exchange them for charging credits on Corda.
- Poseidon Network — Revolutionizing traffic management in urban areas and also allowing for storage of footage relating to accidents to be securely accessed by those involved using Corda.
- Recheck — Has created an application on Corda that allows control over firmware deployment to protect IP.
- Stabiliti — Has used Corda to connect 5G endpoints, using the privacy and scalability advantages of DLT, they aim to allow parties to efficiently transact on the edge of 5G networks.
- Thingsprotocol — Rewards users for taking more sustainable modes of transport and allows users to make investments with those rewards on Corda.
- Travelhorse — A platform for more transparent last-mile delivery processes on Corda.
What the contestants have done so far
In the first two rounds contestants were judged on proposed solutions and clickable prototypes for these.
Over the next eight weeks, the finalists will build out their solutions on Corda and present them to the panel of judges from R3, AWS, Swisscom and Vodafone who will select the winner.
The challenge sponsors AWS, Swisscom and Vodafone have been integral to the success of the Corda Challenge: 5G, and it’s great to hear from them how the challenge is accelerating development of 5G enabled solutions using Corda.
“We are excited to see innovative proposals that use 5G and Corda to solve real- world business challenges. These will create higher levels of trust in data, while supporting requirements for privacy and reducing costs through streamlined operations — precisely what we need to grow the Internet and Economy of Things.”—Svetlana Grant, Head of IoT Strategic Technology Partnerships at Vodafone
“We were positively surprised by the wide range of use cases the teams came up with, which made it difficult for us to decide. The chosen finalists stood out in terms of idea and quality of their submissions. Now we are looking forward to engaging with the teams and helping them to prepare for the final demo day.” — Dominic Schlegel, Innovation Manager at Swisscom
“Top global telecom companies — from large enterprises to early-stage startups — work with AWS to accelerate their digital transformation and monetize the next generation of 5G/edge computing and IoT. The Corda Challenge 5G finalists represent the next wave of innovation at the intersection of 5G and blockchain, and we are excited to support them in the final round and beyond.” — Fletcher McCraw, Sr. Blockchain Partner Manager at Amazon Web Services
This challenge is managed by R3’s Venture Development team, which helps early-stage companies get to grips with Corda and Conclave to mutually benefit the DLT ecosystem. If you have an idea or are in an early stage DLT startup, please click here to find out more about the Venture Development Program and submit an application.