The European Commission’s NGI TrustChain initiative has allocated an additional €1.8M in grants to 15 European startups to address online misinformation and false identity using blockchain technology. These startups, selected from a pool of 162 applicants, will each receive up to €117,000 to develop their projects. The newly funded startups come from ten different countries and were chosen for their innovative approaches to these critical issues. This initiative is part of a broader effort to enhance trust and security in the digital space.
The current funding round marks the third cohort of the NGI TrustChain Project. Over time, this project has provided more than €4.6M to 43 companies. The need for solutions to online misinformation and false identity has grown, especially as political, social, and military conflicts increasingly spill over into the digital realm. Previous grants have been crucial in developing foundational technologies that combat these challenges, and this new round of funding aims to build on that progress.
Past recipients have used their funds to create blockchain, identity, and privacy solutions that foster more secure and trustworthy online interactions. This new set of grants continues that mission, supporting startups that propose innovative technologies to tackle misinformation, enhance privacy, and ensure democratic integrity in online spaces. TrustChain’s focus on decentralization and privacy aligns with broader trends in cybersecurity and digital trust that have become more pronounced over recent years.
Empowering Digital Trust
Yuting Jiang, CEO of ZKorum, expressed optimism about the potential impact of their project.
“We’re working with TrustChain to depolarize the online social landscape so democracy has breathing room for inclusive discussion. Trustchain will help with adoption of our polling and discussion tools, as well as our user and privacy-friendly identity verification platform.”
Similar sentiments were echoed by Dr. Muttukrishnan Rajarajan from City, University of London, who highlighted the pressing need to address misinformation and online harm.
“Misinformation, hate speech, and online harm in democracy is a pressing issue – nearly half of the world’s population are voting in national elections this year. Trustchain startups are working to use blockchain, identity, privacy, and interoperable decentralized technologies so that the internet ecosystem can give the public confidence in online activities.”
Strengthening Online Security
Sean Kane, co-founder and Chair of the F6S startup network, emphasized the importance of fostering trust in digital spaces.
“It’s not surprising that only 6 in 10 of us trust online information – fake and deceptive information is everywhere. These 15 latest grants will help top new European blockchain and identity startups empower trusted discussion in European digital public spaces.”
The initiative supports startups like ZKorum, AI-MetaBloQ, and Compellio, which are developing solutions to rehumanize online interactions, manage life science data, and bridge the gap between Web2 and Web3 technologies.
The TrustChain initiative’s continued funding and support demonstrate the European Commission’s commitment to enhancing digital trust and security. This latest round of grants will enable startups to develop technologies that not only address misinformation but also enhance user privacy and foster democratic engagement in online spaces. Each funded project represents a crucial step towards a more secure and trustworthy digital world, where individuals can engage in discussions and share information without fear of deception or identity theft.
As these startups begin to implement their innovative solutions, the impact of the NGI TrustChain initiative will likely extend beyond Europe, setting a global standard for combating online misinformation and protecting digital identities. The focus on decentralized and privacy-oriented technologies aligns with the growing demand for secure digital platforms, paving the way for a more transparent and trustworthy internet ecosystem.
