25 April 2017
Find out more

Cambridge Blockchain wins Santander DL Challenge

28 January 2016  |  7312 views  |  0 chequered flag

Massachusetts-based Cambridge Blockchain has walked away with a £15,000 cash prize and the promise of future angel investment after winning a distributed ledger challenge organised by Santander InnoVentures in partnership with OneVest, CoFoundersLab and 1000 angels.

The startup, which looks to solve enterprise-level identity issues, was among five finalists, selected from more than 100 applications, to pitch directly to the judging panel at the Challenge final in New York.

The panel, headed by managing partner at Santander InnoVentures Mariano Belinky, included Santander executives Julio Faura and Juan Jimenez Zaballos, as well as DL and blockchain entrepreneurs James Smith (Elliptic), Greg Schvey (TradeBlock), Peter Smith (Blockchain), Chris Larsen (Ripple) and InnoVentures venture partner Pascal Bouvier.

The Cambridge Blockchain team will now be given access to market and technology experts at Santander, while Onevest will provide mentorship and guidance before presenting the winner to its 1000 Angels private investor community to pitch for ongoing funding.

“DL technology is a hugely exciting space in financial services currently - we’re thrilled to see so much innovation happening at startup level,” says Belinky. “The technology has great potential across various use cases, and we hope to ultimately adopt these to the benefit of Santander’s customers. We’re very excited to see how Cambridge Blockchain progresses and to offer guidance along the way.”

With a focus on identity management and regulatory compliance, the Cambridge Blockchain team have hit a sweet spot for the application of DL technology according to a new report from Deloitte, which argues that the acceptance and adoption of blockchain technology across multiple industry sectors is reaching tipping point. Success will depend on the creation of a trusted environment for blockchain based services, the study avers, particularly when it comes to ensuring robust and secure authentication and identification.

"By using technologies such as decentralised architecture, cryptography and digital signatures, blockchain has the potential to offer a high level of assurance, as well as adding some new and unique characteristics to identity management," states Deloitte.

Elsewhere in the world of fintech startup competitions, another blockchain outfit has emerged victorious in the StartmeupHK festival in Hong Kong. UK-based Everledger, which uses distributed ledger technology to track and verify diamonds, pocketed $10,000 in prize money after beating off 23 rivals to earn the Best in Show badge.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Santander InnoVentures and IE Business School to host startup series

Santander InnoVentures and IE Business School to host startup series

02 December 2015  |  5230 views  |  0 comments | 13 tweets | 5 linkedin
Santander challenges students to come up with Big Ideas to change finance

Santander challenges students to come up with Big Ideas to change finance

19 November 2015  |  5255 views  |  0 comments | 15 tweets | 3 linkedin
Santander to run global blockchain challenge

Santander to run global blockchain challenge

05 November 2015  |  13829 views  |  0 comments | 59 tweets | 30 linkedin
Santander InnoVentures joins Ripple funding round

Santander InnoVentures joins Ripple funding round

06 October 2015  |  8422 views  |  1 comments | 31 tweets | 19 linkedin
BBVA Ventures exec joins Santander InnoVentures

BBVA Ventures exec joins Santander InnoVentures

17 June 2015  |  7332 views  |  0 comments | 5 tweets | 1 linkedin
Banks and startups must collaborate for 'Fintech 2.0' revolution

Banks and startups must collaborate for 'Fintech 2.0' revolution

15 June 2015  |  27514 views  |  0 comments | 91 tweets | 54 linkedin
Santander invests in Android OS maker Cyanogen; preps cycle-thru branches?

Santander invests in Android OS maker Cyanogen; preps cycle-thru branches?

01 April 2015  |  9126 views  |  1 comments | 10 tweets | 9 linkedin
Santander Innoventures invests $5m in MyCheck

Santander Innoventures invests $5m in MyCheck

30 March 2015  |  8050 views  |  0 comments | 11 tweets | 9 linkedin
Banco Santander hires McKinsey man Belinky to run Innoventures fund

Banco Santander hires McKinsey man Belinky to run Innoventures fund

03 December 2014  |  9147 views  |  0 comments | 5 tweets | 1 linkedin
Santander commissions study on bitcoin's impact on banks

Santander commissions study on bitcoin's impact on banks

26 August 2014  |  10458 views  |  1 comments | 19 tweets | 5 linkedin
Santander launches $100m fintech venture fund

Santander launches $100m fintech venture fund

03 July 2014  |  15563 views  |  0 comments | 21 tweets | 22 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyDoes the Buck Stop with GameStop?
12955 views 0 | 3 tweets | 14 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
11032 views comments | 30 tweets | 20 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
9313 views comments | 35 tweets | 38 linkedin
Western Union and MoneyGram unveil Facebook Messenger bots; Mastercard and Amex pile inWestern Union and MoneyGram unveil Faceboo...
8797 views comments | 17 tweets | 17 linkedin
Coinbase plans Ethereum messaging appCoinbase plans Ethereum messaging app
8374 views comments | 14 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job