Melbourne incubator Blockchain Centre picks ten startups for Block Engine

Ten blockchain startups have been selected to take part in the program.

The Blockchain Centre tech incubator has finished picking its ten startups for Block Engine. This ten-week program will let the teams work on their business plans under the mentorship of experts in the space, including DigitalX CEO Leigh Travers, Coinstop's Jonathan Ross and CoinJar CEO Asher Tan as well as dozens more.

The ten-week program will conclude with Demo Day on 26 April, where these ten finalists will get to pitch their business to investors.

The ten teams

Meet the collaborative contestants.

1. AEM

AEM aims to apply blockchain technology to the accounting industry, with the goal of normalising mainstream crypto adoption across Australian businesses. It's been predicted that blockchain technology might be "more important to the accounting profession and its clients than artificial intelligence," and that disruption in financial services, including accounting, is going to become the new normal.

Several mainstream cryptocurrencies have already emerged to vie for a position as the world's main blockchain accounting solution. The Request Network (REQ) and Factom (FCT) might be the best known of them.

2. BetterMe

This startup aims to disrupt existing healthcare funding models by developing a platform to connect healthcare funders, service providers and patients. The applications of blockchain tech in healthcare are being widely explored, but often with a primary focus on patient data management rather than as a way to connect funding elements.

A blockchain system for connecting funders, service providers and patients might be exactly what Australia needs though. A recent government report has criticised all three of these elements in fairly equal measure and suggested that healthcare reform in Australia could save $140 billion over 20 years. A blockchain-based system might be the ideal way of connecting these elements.

3. Building Approvals

This startup hopes to develop a construction-industry blockchain system, focused on risk management and cash flow improvements for all stakeholders in the construction industry. People elsewhere have started examining the potential of blockchain technology in construction, and one of China's best known property mortgage brokers has taken a particular interest in using blockchain for mortgage-risk management.

Financing is a necessary part of most construction, and a blockchain solution for managing risk and cash flow across projects could bring some very tangible benefits.

4. Charlie

Charlie aims to build a customer-centric and technology-driven retail bank on top of blockchain technology.

Australia's banks have been veering towards blockchain technology for years now, but an agile startup might be able to get there sooner and enjoy a competitive advantage from quicker implementation of blockchain systems.

5. Efectivo

This startup aims to be the "world’s first global and decentralised influencer marketing platform built on blockchain technology."

6. Fair and Square

This startup hopes to develop a blockchain system for "helping construction contractors meet their obligations to pay everyone, on time, every time, fair and square."

Fair and Square and Building Approvals might have a lot of talk about over the next ten weeks.

7. Project Glass

This is a project that aims to lower consumer and SME banking transaction costs and enable the participation of the unbanked in microfinance at a global scale. Judging by the name, it might do so with an emphasis on transparency.

Cryptocurrency has already found itself edging towards enabling participation in finance by unbanked people around the world, but blockchain systems might be especially suitable for microfinance.

8. Reputationaire

Reputationaire hopes to build "a blockchain platform for securely importing, storing and exchanging verified reputation data to anonymously prove trust-free from human biases."

Identity and blockchain technology have been rubbing shoulders extremely closely so far, and it seems like Reputationaire might find itself entering a competitive space. Cryptocurrencies like Civic (CVC) are establishing themselves in the space with similar-sounding plans, while bigger names like Ethereum are also working closely towards ID systems.

Microsoft's blockchain ID system will also include a way of managing reputation data.

9. Supp

This startup aims to develop an app-based platform to link the global hospitality community, enabling workers to perform flexible shifts at local venues. It might be a tempting solution for workers and business managers alike.

10. Unicorn

This startup's goal is to develop a cross-platform gaming ecosystem based on its own public blockchain, with an all-in-one development solution and monetary system.

The world's first cryptocurrencies were arguably video-game money, and some exchanges like VirWox made a relatively seamless shift from handling video money to dealing in cryptocurrency.

Cryptocurrencies have often been suggested as a gaming ecosystem coin, and they don't necessarily have to be connected to any specific platform to be used as such, so Unicorn's development solutions might be the key element to it all.

Picture: Shutterstock

Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VET, XLM, NANO, SALT and BTC.