The EU has granted €1.8 million to 15 startups to address online misinformation, fraud and fake identities using blockchain technologies.

This funding is part of the first call offered under the NGI TrustChain initiative, which aims to foster the use of blockchain by financing various innovations.

So far, TrustChain has provided over €4.5 million in funding to 43 companies. One of the key goals of this initiative is to protect human rights and democratic processes online, which are often threatened by misinformation and fake identities through distorted information, manipulation, or even weaponisation.

Dr. Rajarajan Muttukrishnan, professor and director of the Institute of Cyber Security at City, University of London, said: “Misinformation and deepfakes are inescapable in this time of elections and conflicts. We’re funding blockchain and other tamper-resistant technologies from top new startups to increase trust in democracy.” As part of TrustChain’s core team, he leads the initiative’s funding calls.

Selected from a pool of 162 applicants, each of the newly awarded startups will receive up to €117,000 in funding. The winners come from 10 European countries, including the Netherlands, Germany, and France. Their solutions range from cryptography and data aggregation platforms to open-source IT tools and Web3 computing.

“These startups are also exploring ways of utilising the C2PA open technical standard,” Muttukrishnan said. This standard enables creators, publishers, and consumers to trace the origin of different types of media. “The ability to validate images and text to prove the authenticity of media files will help protect against malicious content used for propaganda, political gain, or other harmful activities online such as radicalisation, online harm, and terrorism.”

The 15 finalists of the NGI TrustChain initiative span a variety of innovative solutions and hail from diverse countries across Europe. ZKorum, based in France, is creating open-source tools to make online social interactions more inclusive, thereby promoting inclusivity and democracy. AI-MetaBloQ from Greece provides IT solutions for the life science industry, managing data and integrating various entities within the sector. Compellio, from Luxembourg, helps organisations transition from Web2 to Web3 computing. Forkbomb BV, a company in the Netherlands, develops components and solutions that help everyone see the benefits of cryptography. ENISMARO, an Italian company, offers a solution to track food production. If implemented, it would bring a new level of transparency to the production and delivery of food for everyone involved, including consumers.

Arsys Internet, based in Spain, builds a data aggregation platform to encourage data sharing and create high-quality datasets. Acurraent UG in Germany helps small and medium-sized enterprises restructure, digitalise, and grow, focusing on UX/UI and Web3 research. Another Italian startup, In Trade 4 You, assists micro, small, and medium-sized businesses in accessing international trade opportunities. Poland’s QX by Qpick enhances customer experiences and loyalty with a blockchain-based travel wallet and digital ID. Digital Democracy World from Sweden is a non-profit organisation dedicated to supporting and promoting effective democratic organisation at all levels.

Greek startup Pavlos Efraimidis aims to create FLORA, an ovulation tracking app using Federated Learning to prioritise transparency and user privacy. City and Me doo Nis, based in Serbia, also produces digital technologies for interactive and sustainable communities. Romania’s entry, Gheorghe Asachi Tech, University Iasi, presents a reliable open-source platform that can incubate ideas, projects, and business plans. The next startup, SecureOpinion from the United Kingdom, aims to provide a secure platform for opinion sharing on social media. It uses decentralised blockchain technology to ensure public trust and transparency. The final project, Neuron AI from Greece, develops artificial intelligence solutions in the EU and worldwide.

With these innovative projects, the future of a trustworthy and decentralised internet looks promising.

See also: EU commission encouraged to lead blockchain and AI integration

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