WordProof is one of the 23 finalists selected out of the 178 applications received for the 5 x €1.000.000 EIC Horizon Prize on ‘Blockchains for Social Good’. Monday, February 10th, was Finalists’ Day. 23 initiatives gave a pitch and demo. Here’s the full transcript of WordProof’s pitch, presenting the impact of our solutions on social good aspects and the underlying economic model.
Problem Outline / WordProof’s Mission
The internet has a deep-rooted issue: trust.
- 29% of Europeans are suspicious of the internet, and 86% have fallen for fake news.
This causes fewer online purchases, people using fake IDs and
The mission of WordProof’s Timestamp Ecosystem is to bring a layer of trust over the internet:
- What I read is real, and I can verify who wrote it.
- What I create is mine, and I have proof.
- I am protected and leveraged in disputes.
This is true for content, social, e-commerce, and every other corner of the internet. Trust is what we build. WordProof timestamps content on the blockchain.
WordProof Timestamp Ecosystem
We’ve been able to integrate blockchain technology in a way that even non-tech savvy individuals can use WordProof. We serve the entire internet via an API, and already 35% of the web with our user-friendly plug-and-play solutions.
Often blockchain is not used for the right reasons, but for independently building trust for European consumers, it’s the only way.
But there is more:
- For internal governance, our Multi-Signature timestamps are essential.
- For increased accountability, transparency ánd to fight fake news, Self-Sovereign Identities and Tier Levels are needed.
WordProof combines both and is the only timestamp oriented company in doing so.
Embedding the WordProof Timestamp Ecosystem
We build a unique, global, inclusive timestamp ecosystem, by being open source, leading standardization via ISO, Schema.org and Dublin Core and by being blockchain agnostic, strongly focusing on public chains.
An opinion in a leading Dutch legal magazine shows how WordProof also focuses on advocacy and science to embed the Ecosystem.
Adoption and WordProof’s Business Model
In just half a year, massive community support emerged and over 171 thousand timestamps were placed.
Further adoption will be both experts- as consumer-led:
- 67% of those with knowledge of blockchain encourage wide adoption, and
- 85% of the Europeans support education on fake news
As a business model, WordProof will offer free and premium Software-as-a-Service plans for all major platforms and has a partnership program in place.
So, to summarize:
Transparency and accountability lead to a more trustworthy internet. Our Timestamp Ecosystem protects Europeans and tackles the issues they face today.
Europe now has tools:
- to fight the resistance of tech giants,
- decrease the impact of fake news,
- bring blockchain into the daily life of its inhabitants and
- offer a level playing field in case of disputes.
With WordProof and its multi-signature and identity innovations, Europe will meet its goals while leading the way to a more trustworthy internet.
Let’s fix the broken web together 🇪🇺!
WordProof Live Demo (2 min)
After the 3-minute pitch, I demoed a few elements of our timestamp ecosystem.
Q&A after the Pitches in our category ‘Quality Content’
After the presentation, Frank van Dalen and I answered five questions from the on- and offline audiences:
- Why would tech giants adopt WordProof?
- How to Embed Blockchain Timestamps in Open Standards?
- An Example of WordProof’s Impact on SME business owners
- How Powerful are Blockchain Timestamps?
- What’s WordProof’s Business Model? What’s the road to Mass Adoption?