Dutch startup WordProof announced receiving a 1 Million Euro from the European Commission. The award is part of the ‘Blockchain for social good’ from the European Commission that focuses on blockchain startups with that work on solving social problems. Wordproof was awarded among 176 startups participating in the competition.
Restoring Trust in The Internet Using Blockchain
Wordproof calls its mission, restoring the trust in the internet.
“We are building a universal Timestamp Ecosystem, a global standard that gives consumers a method to verify the reliability of the content on the Internet,” says WordProof founder Sebastiaan van der Lans.
Block.One and Innovation Fund Noord-Holland are two of the significant supporters of Wordproof startup. The incentive grant from Block.One and the loan from the dutch fund makes it possible for the startup to develop the needed underlying technologies faster.
“With the recognition and financial support from Europe, we can roll out the Timestamp Ecosystem at a higher pace and make WordProof grow even faster as a company. This will enable Europe to define the standard for a reliable Internet for consumers and organizations,” added Van der Lans.
Timestamp Ecosystem is the fundamental development task within Wordproof. DPG Media is the first Dutch company to use this technology as a means to protect its articles. This technology makes it possible for the media company to show its ownership of the articles to search engines and social media. It helps DPG to be displayed above other search results even if there are more prominent media outlets that republish the articles.
“We expect search engines and social media platforms to recognize that DPG claimed ownership of its articles through timestamps. Visitors searching the web can see DPG-publications at the top of search results and not another platform that happens to be larger than the local website,” according to Van der Lans.
Wordproof plans to collaborate with other media outlets and publishers to provide content-securing features to them. It currently has a WordPress plugin available. Besides, publishers can use the online tools on Wordproof.io.
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