SKEY Network, the world’s first connector combining the Internet of Things (IoT) devices with blockchain technology, has today launched the world’s largest crypto-based competition for start-ups, individuals and companies. The SKEY Network Challenge is designed to give participants the chance to generate further innovative ideas, concepts and prototypes to use via the Skey Network blockchain and to hyper-charge adoption of blockchain of things (BoT) products and technology.

In line with the launch of its own proprietary blockchain, SKEY Network will be offering a total prize fund of USD $1 Million in SKEY tokens to be split between ten winners. The prize fund is divided into a series of grants, awarded at different stages of the competition with ten top prize winners and a special prize awarded by the CEO for the best overall project. Winners will also retain all rights of ownership to products manufactured as part of the competition. The jury is composed of leading names in the global IoT, smart city and blockchain worlds.

Szymon Fiedorowicz, CEO and co-founder of SKEY Network said: “The decision to create our blockchain was really about utility and our vision of creating a universal standard of communication for all IoT and BoT devices to enable the smart cities of the future. The Skey Challenge is a way to encourage innovation in this arena and to reward the biggest and best ideas from around the world. This is part of our commitment to underpinning future use cases for smart cities and we can’t wait to see what our competitors can create.”

“The UAE being at the forefront of innovation in smart city technology, we expect many participants from the emirates to be taking part in The Skey Challenge. With a great number of innovators stemming from the region and the exponential growth in blockchain and cryptocurrency solutions, we are excited to see the ideas that will be presented from the region”, he continued.

The competition will be a catalyst for innovative ideas, concepts and prototypes, built on the Skey blockchain, which will underpin the smart cities of the future and is intended to incentivise developers and support more innovation in creating smart city solutions on the blockchain. Entrants can submit a ready-made product, service or app or a concept that they want to bring to life. Applications are open from 12:00 CET 1st December 2021 to 23.59 CET 7 January 2022 at challenge.skey.network. Overall winners will be announced in May 2022.

The categories are:

• Smart City
• Sharing Economy
• ORACLE
• Security
• DeFi
• NFT

SKEY Network combines Oracle, BoT and DeFi technologies to create a unique access key called Smart NFT. These provide blockchain managed access to physical assets such as cars, apartment buildings or sharing economy assets such as smart bikes. Competitors are invited to look at any aspect of future smart cities and design a product to enable this.

For more full terms and conditions and to register interest go to https://challenge.skey.network/