Lykke is funding 4 initiatives which aim at addressing the consequences of the current pandemic.

The initiative aims to provide financial means for innovative individuals, teams and companies to deliver transformative solutions addressing the crisis. It also empowers governments and institutions to directly support, access and benefit from these solutions.

Today more than ever, governments and industries are challenged by the impact of the current crisis and need to be prepared for any future occurrences. It is both a necessity and a unique opportunity to utilize technology and decentralization to build resilient infrastructures and mechanisms for our economy.

To help to advance the Open Initiative by Lykke the company announced that J. Christopher Giancarlo, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), will serve as a strategic advisor.

“As the unprecedented COVID-19 crisis reveals inefficiencies and limitations in global financial and supply chain systems, I am pleased to support the Open Initiative to bring sophisticated digital services within reach by leveraging blockchain technology and the expertise of Lykke’s Digital Engineering Team.”

The Open Initiative aims to provide a minimum of CHF 50,000 for each selected proposal by individuals, teams, and companies that are working to create solutions that address the crisis, while offering direct access and support for governments to benefit from newly developed solutions.

The Open Initiative is accepting proposals for four categories:

• Digital Vouchers Platform: Digitizing government initiatives for SMEs, the labor force, and more.
• Supply Chain Platform: Leveraging the efficiency of financial market mechanisms to solve supply chain problems.
• Real-Time Economic Information System: Aggregating and verifying relevant information for economic forecasts.
• Research Initiatives: Contributing new approaches and ideas to the management of the current crisis and the development of useful solutions.

The process for submitting proposals will be open until July 3, 2020. Selected entries will be evaluated by a jury of government and industry leaders, and winners will be considered for future initiatives eligible for additional funding.

“New technologies will accelerate the recovery of society in the aftermath of the COVID-19 pandemic, and the blockchain offers feasible solutions for necessary government and private sector initiatives,”

said Lykke CEO Richard Olsen.

Learn more about Lykke’s Open Initiative here.