Lykke Launches COVID-19 Project to Fund Global Supply Chain Solutions and Announces Chris Giancarlo as Strategic Advisor for The Open Initiative

Lykke Corp, the Swiss fintech company and builder of marketplaces for digital financial assets, today launched The Open Initiative, a project dedicated to helping governments envision the ways digital technology can transform the global supply chain and financial system in a post-COVID-19 economy.

“New technologies will accelerate the recovery of society in the aftermath of the COVID-19 pandemic, and the blockchain offers feasible solutions for necessary government and private sector initiatives,” said Lykke CEO Richard Olsen.

To help advance The Open Initiative, Lykke is pleased to announce J. Christopher (“Chris”) Giancarlo, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), will serve as strategic advisor.

“As the unprecedented COVID-19 crisis reveals inefficiencies and limitations in global financial and supply chain systems, I am pleased to support the Open Initiative to bring sophisticated digital services within reach by leveraging blockchain technology and the expertise of Lykke’s Digital Engineering Team,” said Giancarlo.

The Open Initiative aims to provide a minimum of CHF 50,000.00 (USD 51,300.00) for each selected proposal by individuals, teams and companies that are working to create solutions that address the crisis, while offering direct access and support for governments to benefit from newly developed solutions.

The Open Initiative is accepting proposals for four categories:

  • Digital Vouchers Platform: Digitizing government initiatives for SMEs, the labor force, and more.
  • Supply Chain Platform: Leveraging the efficiency of financial market mechanisms to solve supply chain problems.
  • Real-Time Economic Information System: Aggregating and verifying relevant information for economic forecasts.
  • Research Initiatives: Contributing new approaches and ideas to the management of the current crisis and the development of useful solutions.

The process for submitting proposals will be open until July 3, 2020. Selected entries will be evaluated by a jury of government and industry leaders, and winners will be considered for future initiatives eligible for additional funding.

Source : Businessnewswire

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