The BSIC incubator project was originally under Ethereum’s enterprise-grade solutions provider, ConsenSys. Apart from Microsoft and ConsenSys, this project has been sponsored by other notable industry stakeholders from different sectors. They include UNDP, KPMG, Gitcoin, Celo, Pepo and the city of Austin, Texas. Given this support, the upcoming rewards set for the BSIC incubation winners total to $30,000 and is set to be allocated as per the outlined criteria.

According to Microsoft’s blockchain unit co-founder, Yorke Rhodes, the whole idea is to solve challenges in excess carbon credits, pollution, affordable housing and identity projects. Yorke who is also a BSIC board member highlighted that;

“It’s run like a typical incubator where we have weekly deliverables for all of the teams.

We also have subject-matter experts in these categories from around the world that we invited in to do seminars twice a week,”

During its launch, the BSIC incubator attracted more than 300 participants and narrowed down gradually to be left with about 30 teams. As mentioned earlier, they were tasked with creating solutions to make the world more climate and environmentally friendly through blockchain technology.

Currently, energy and sustainability are among the hot topics within global governing bodies. In this regard, Yorke noted that Microsoft is working with Brazil’s, Itau Unibanco, to bring to life long-term ideas tailored to the space.

As we approach 2020’s Earth Day, the whole world is uncertain due to the COVID-19 pandemic. Vanessa Grellet, the Executive Director of ConsenSys has since noted they will hold the event live as opposed to prior plans,

“We made the decision to pivot our Earth Day 2020 event from an in-person event for people in New York City, to one that is 100 percent digital this year and available worldwide.”

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