WARSAW, Poland, Dec. 1 (Korea Bizwire) – Skey Network, the world’s first connector combining the Internet of Things (IoT) devices with blockchain technology, has today launched the world’s largest crypto-based competition for startups, individuals and companies, the Skey Network Challenge, designed to hyper-charge adoption of blockchain of things (BoT) products and technology.
In line with the launch of its own proprietary blockchain, Skey Network will be offering a total prize fund of $1m USD in Skey tokens to be split between 10 winners. The prize fund is divided into a series of grants, awarded at different stages of the competition with 10 top prize winners and a special prize awarded by the CEO for the best overall project. Winners will also retain all rights of ownership to products manufactured as part of the competition. The jury is composed of leading names in the global IoT, smart city and blockchain worlds.
The competition will be a catalyst for innovative ideas, concepts and prototypes, built on the Skey blockchain, which will underpin the smart cities of the future and is intended to incentivise developers and support more innovation in creating smart city solutions on the blockchain. Entrants can submit a ready-made product, service or app or a concept that they want to bring to life. Applications are open from 12:00 CET 1 December 2021 to 23.59 CET 7 January 2022 at challenge.skey.network. Overall winners will be announced in May 2022.
The categories are:
- Smart City
- Sharing Economy
Skey Network combines Oracle, BoT and DeFi technologies to create a unique access key called Smart NFT. These provide blockchain-managed access to physical assets such as cars, apartment buildings or sharing economy assets such as smart bikes. Competitors are invited to look at any aspect of future smart cities and design a product to enable this.
Szymon Fiedorowicz, CEO and co-founder of Skey Network, said: “The decision to create our blockchain was really about utility and our vision of creating a universal standard of communication for all IoT and BoT devices to enable the smart cities of the future. The Skey Challenge is a way to encourage innovation in this arena and to reward the biggest and best ideas from around the world. This is part of our commitment to underpinning future use cases for smart cities and we can’t wait to see what our competitors can create.”
For more full terms and conditions and to register interest go to https://challenge.skey.network/
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1st place – 150,000.00 USDT paid in Skey tokens;
2nd place – 100,000.00 USDT paid in Skey tokens;
8 x runners up – 75,000.00 USDT paid in Skey tokens for each project;
CEO’s Special Award – 50,000.00 USDT paid in Skey tokens.
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Source: Skey Network via GLOBE NEWSWIRE