Sony Corporation Shows Interest in Blockchain Technology

The interest around blockchain technology that underpins bitcoin reached new heights in the past couple of months. Major financial institutions, tech companies, insurance industry, music industry and others have been undertaking blockchain research to explore relevant use cases.

Sony Corporation, Japanese electronics titan, is the latest company to show interest in the blockchain space. In partnership with Matchi, a business matchmaking firm, the company has launched “FinTech Innovation Challenge” and is challenging the global FinTech community to compete for a PoC project (Proof-of-Concept project) within the multinational conglomerate.

The challenge categories include Web bank interaction for high net worth individuals; Financial services for travelers, Entertainment; Education/Financial Management services for youth; Client engagement for the underbanked/underinvested and Super smart authentication.

The Entertainment category deals with exploring useful solutions related to film and music industries using blockchain. The recommended focus areas include Content Creation, Equipment Lease, Crowd Funding, Demand Prediction, Right Management and Ticket Distribution.

At present, entries are being accepted and the last date for the same is 17th of this month. Coinfox reported that there are four criteria for selection: novelty, ease of implementation, potential impact and overall impression. The winners will be announced on 18th March.

“The highest ranking innovation in each of the six themes will have an opportunity to present their solution to a judging panel from Sony on 17 March 2016. From there, at least one innovation will be announced as the ultimate winner and that firm will continue through to the PoC project phase within Sony”, the website reads.