Best Use of Crypto and/or Blockchain in Financial Services

Last Year’s Winner:

Target Audience: 

Any financial services business that touches crypto and/or Blockchain in any way.  

Detailed Definition 

The Best use of Crypto and/or Blockchain in Financial Services category spans two area which whilst inextricably joined spawn a multitude of applications. To help the judges there will be two sets of criteria to judge against to enable the widest possible variations of entry. 

For crypto entries  

This category is looking for companies that are working with crypto to create solutions. For example, creating a card based product that can access crypto funds; offering secure storage facilities for crypto currencies; allowing people to spend crypto currencies to buy goods and services; using crypto currencies as a loyalty product; using crypto currencies as a means to facilitate commerce. In addition, there are many new cryptos being created for specific payment/marketplace utilities (e.g. to buy goods and services for a particular vertical at a discount from a group of suppliers willing to accept the crypto etc.). 

Judges will be looking at payment businesses that bridge the gap to crypto enabling customers the best possible on/off ramps, and at pure crypto/stablecoin entries that can show innovation and utility. 

For Blockchain entries 

There are many solutions using blockchain such as a blockchain authentication service the use of a small amount of crypto currency to enable a suite of automated contracts to run or an ID verification service to take place (blockchain identity/kyc and or CBDC or data management with data stored on a blockchain) and the creation on a blockchain of new crypto assets such as, stablecoins, CDBCs or traditional asset backed or share backed tokens. 

Judges will be looking at applications of blockchain in financial services including potential uses of smart contract to create solutions. 

The solution may be running in any country/countries.   

Please provide the following information:

Nominee & nominator 

  • Name of nominating organisation 
  • Solution/Programme name (entry title) 
  • Name(s) of nominated organisation(s) 
  • The nature of the business relationship between you as nominator and the nominee company 

Solution description

The judges will assess your entry against the following five criteria. You are free to describe the programme and support your case with supporting material as you think appropriate however, please note that we strongly suggest NOT to submit generic promotional material and sales brochures. Please limit your submission to no more than 1,500 words. The criteria are: 

  1. The solution makes use of the special qualities of crypto currencies./blockchain 
  2. The solution has benefits for the end users. 
  3. The solution has benefits for the provider and has performed well. 
  4. The success of the solution in the market including quantitative/qualitative evidence. 
  5. The solution stands out from its competition due to its features and innovation.  

Evidence of success/metrics

Please provide as much information as you can and quote the source of that information. Such information might include the following; however, this is not an exhaustive list and in each case the judges will be looking for evidence that support your claims as to the key benefits of the programme:

  • The length of time it has been live
  • The number of transactions and their value from initial launch until March 2022
  • The number of unique participants using the programme as of March 2022
  • Growth in use, both historical and extrapolated projections
  • Feedback from users as to their experience