The prize awarded by the Enhanced European Innovation Council EIC is worth a million euros and was granted for work on the social effectiveness of blockchain technology.

The goal of the prize is to support efforts in exploring the applications of blockchains also outside their traditional domains. In addition to Aalto University (BIZ/IDBM and ELEC), GMeRitS consortium includes the Politecnico di Milano University, as well as the startup and scaleup organizations Mesensei (Otaniemi, A-Grid), Novact (Barcelona), and Merits (Milan). Aalto’s share of the million euro prize sum is 250 000 euros.

“We will use these resources to conduct experiments, build communities, and develop teaching. The research questions we are tackling with our consortium are so complex that we need large-scale cooperation involving many different stakeholders and extending beyond traditional research partners.”

- IDBM Faculty and GmeRitS consortium member Ville Eloranta.