SettleMint, Medici Ventures’ Belgium-based blockchain technology investment, has been selected among one of the twenty finalists to participate in the inaugural Smart Dubai Office Blockchain Challenge May 29-30 in Dubai.

The Smart Dubai Office (SDO) Blockchain Challenge competitors include ChromaWay, Ubitquity LLC, BanQu, Everledger, ShoCard, Educhain, among others. These selected finalists will participate in a two-day program that includes a pitch competition to an audience of investors, experts, private and public institutions. The winners of first, second and third place will each receive a prize money ranging from $10K-$20K along with the opportunity to implement their product or service in Dubai.

The Smart Dubai Office Blockchain Challenge event will identify game-changing blockchain applications in various industries in order to support Dubai’s goal to become the first blockchain-powered city by 2020.

“We congratulate SettleMint on being chosen as a finalist for the prestigious SDO Blockchain Challenge. As Dubai is showing with its rapid push towards a blockchain infrastructure, this technology has the potential to change the world in a more impactful way than almost any we’ve seen in our lifetime. Through our strategic investments in leading blockchain technologies like SettleMint, Medici Ventures is well-positioned to become a global leader in the blockchain revolution,” Jonathan Johnson, Medici Ventures’ President, said.

With the Blockchain Challenge, Dubai is focusing on three pillars – government efficiency, industry creation and thought leadership, on which it is planning to apply blockchain technologies.