Portuguese projects promise to use Blockchain to change the insurance and energy sectors

Blockchain's challenges promoted by Fidelidade and REN have reached the final stage. Projects will be presented to the selection jury at the end of September.

The Portuguese Blockchain Alliance announces that the Challenges promoted by Fidelidade and REN have reached the final phase. The selected projects will now be presented to a jury.

"The transformation potential inherent in the use of Blockchain technology is becoming increasingly evident, and this is visible in the projects submitted in the context of the different Challenges," says Rui Serapicos, President of the Portuguese Blockchain Alliance. He adds that "this component further reinforces the tremendous quality of the solutions presented." "In the second phase that now ends in the challenges promoted by Fidelidade and REN, we are witnessing the practical development of the solutions, which reinforces their potential to be placed on the market."

The Blockchain Fidelidade Insurance Challenge was based on two insurance challenges. The first, related to insurance for one-time insurance, was what attracted the interest of the participating teams that will now have the opportunity to demonstrate their prototypes of solution to the selection jury, which will be composed of executives of Fidelidade and by a representative of the Portuguese Alliance of Blockchain. This challenge is based on the increasing availability and accessibility of sporting events, accompanied by a general motivation for its practice by the general population, thus creating a relevant opportunity for an innovative positioning by insurers, available to cover the risks of accidents of the participants.

Through the use of Blockchain technology and smart contracts, the challenge promoted by REN, now entering the last phase, involves the creation of a platform for negotiating the purchase and sale of energy where micro and / or mini-producers can have an additional source of income and consumers the option of choosing the cheapest supplier. Proposals now reaching the third stage include solutions to a trading platform for the purchase and sale of energy and small networks that allow an open peer-to-peer market among residents of the same city or area of ​​residence,

In addition to the challenges of Fidelidade and REN, Challenges promoted by Abreu Advogados and EMEL are already in their last phase. The selected projects from the four challenges will be presented to a jury between September 25 and 28.

The winners will present their idea to the public during the Blockchain Conference, which will take place on November 12 at the Tivoli BBVA Theater in Lisbon.

Remember that the challenges promoted by the Portuguese Association of Insurers and the Almedina Group are still in the first phase of the challenge, where anyone can apply.