Monash University in Melbourne will be hosting Australia’s first international blockchain hackathon, aiming to tackle social and environmental problems through blockchain technology.
According to the event posted by Monash, the initiative is a joint venture between the university’s Blockchain Technology Centre and fintech company and cryptocurrency provider Algorand.
We want to see participants apply their interests and knowledge in blockchain technology to address a global need that can really make a difference in the world.
Professor Joseph Liu, Director of Blockchain Technology Centre, Monash University
Algorand has established itself as the world’s first pure proof-of-stake foundational blockchain. It claims to bring forth the “future of finance” by enabling the creation of tokens, NFTs, stablecoins, securities and cryptocurrencies on a simple and cost-effective infrastructure.
How to Participate
The hackathon starts on Friday, 9 July at 10am and ends Sunday, 11 July at 11:59pm. Interested individuals can register for free here, and registration closes at 10am on 7 July.
Contestants can choose from four topics – education, digital health, construction and energy – and must use tools developed by Algorand (ALGO). They must build solutions with blockchain technology to improve on some aspect of these services. Algorand has a wealth of use cases from which contestants can borrow tools and ideas.
Blockchain technology has so many applications and we want this hackathon to demonstrate how this technology can be a driving force for social good.
Professor Joseph Liu
Some examples will look at solutions in digital certification and records management in a secure and efficient manner, as well as smart metering and real-time energy consumption, plus sharing IoT data across systems. The innovation potential of blockchain technology is endless.
Prizes Paid in ALGO Cryptocurrency
Algorand, the world’s first open source, permissionless, green blockchain, will be contributing A$6000 worth of ALGO cryptocurrency and a certification as part of the hackathon prize pool.
Professor Joseph Liu will be among the academics on the judging panel, joined by industry experts from Algorand. Winners will be announced on 28 July 2021.
Australia has long been a proponent of blockchain technology and cryptocurrency. With many fintech companies implementing blockchain technology, it’s crucial that individuals have the skills to utilise and apply these technologies to the benefit of the user. Many businesses are losing out due to a lack of skilled individuals in the blockchain space.
Bigturn, an international recruitment company, has implemented blockchain technology to help ease identity storage and verification for international hiring in Australia.
For more information, watch this video which describes the future of blockchain and how else it can be used within the context of business.
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