Sir Richard Branson’s Necker Island Extreme Tech Challenge Sees 3 Blockchain Startups Advance
The Extreme Tech Challenge has reached the semi-finals stage. Here, the 10 nominees will challenge each other for three spots allocated for the final. The finals will take place at Necker Island which belongs to Sir Richard Branson, the event’s main sponsor.
The semifinals are scheduled to occur on January 10 next year. In addition to the aforementioned 10 competitors, there will be a wildcard, known as NYX. The finals will occur on April 3.
In addition to Richard Branson, other sponsors of XTC include Cisco, Zoom, Bitfury, among other notable tech companies. The semifinalists originate from various countries, including the US, Switzerland, Sweden, Turkey, Thailand, and Australia. Apparently, the judges will consider the usefulness of each project individually, rather than pitting the competing projects against each other.
3 Blockchain-Based Solutions
First in line is BitLumens, a solution that intends to use blockchain technology to extend electricity connections to rural areas. The platform relies on a blockchain-based scoring system to determine the communities that desperately need electricity. So far, this project has proven useful in rural Switzerland where farmers have installed solar power systems that are purchasable through periodical instalments.
Last of Ours
The second platform is the Thai-based Last of Ours. This project intends to raise awareness regarding the importance of protecting endangered species. This is done by the tokenization of the endangered creatures on a 1:1 ratio.
Lastly, an Australian blockchain called Liven rose all the way to the penultimate stage of XTC. This is a payment solution driven by blockchain technology. It ensures that payment transactions are fast, secure and transparent. Furthermore, it has an inbuilt rewards scheme that awards customers for certain activities.
Although the majority of the semifinalists are not blockchain projects, there is still a chance that one of these three emerges as the winner. Last year, the top spot went to Power Ledger, a blockchain-based solution that advocated for the use of renewable energy sources.