Coins: 13,973
Exchanges: 1,057
Market Cap: $2.513T 3.1%
24h Vol: $69.208B
Gas: 6 GWEI
Go Ad-free

3 Winning Hacks from the DBS Blockchain Hackathon in Singapore

by CoinGecko

 

On the 8th and 9th of May 2015, DBS Bank organised Singapore's first blockchain hackathon in partnership with StartupBootcamp FinTech and CoinRepublic. 16 teams of developers and hackers assembled at Singapore’s startup hub, BASH @ Block 79 for a 2-day hackathon offering over S$33,000 in cash prizes for winning teams.

The theme of the hackathon centered around the application of blockchain technology to make banking services more accessible for the “unbanked” living in emerging markets and to make existing banking services more efficient for those living in developed markets.

BitX, BlockStrap and Colu were official API providers and the hackathon saw interesting uses of these APIs in creating new blockchain applications. Mentors from companies such as itBit, Plug and Play, chain.com, GoCoin, Colu and Blockstrap were present to support participating developers.

Of notable mention is the fact that teams participating in this hackathon will get to keep their IP rights. This is a decision that has been warmly welcomed by the startup community participating in the hackathon.

Here are the three winning teams from the 2-day hackathon.

3rd Place: BlockIntel

BlockIntel is a blockchain visualization/analysis tool that aims to simplify the identification of suspicious transactions, tracking of money flow and attainment of transactions insights. The BlockIntel team highlighted that banking KYC (Know Your Customer) teams may potentially find such a platform useful as it can support banking relationship with Bitcoin companies.

2nd Place: NuBank

NuBank aims to solve the problem of the unbanked in the Philippines using the concept of Hyperlocal. Hyperlocal in this context refers to financial services centered around a town, village or a specific geographical region. For the solution to work, NuBank will need to get the involvement of village representatives that are trusted by the local community such as village elders or mayors. The representatives will then work closely with a bank to provide financial services. Instead of using a piece of paper as a record of transaction for the unbanked, blockchain will be introduced as a layer of trust and this ensures that all records can be auditable and validatable by the outside world.

 

1st Place: OmniChain

OmniChain aims to make investing in emerging markets more trustable and affordable. Using OmniChain, companies that are looking for investors in a global scale would put their data and information into the blockchain, making them more transparent. Anyone can look into how the company has been operating in the past and thus better decide if they would like to finance the company through the blockchain. OmniChain brought home S$15,000 cash prize for their efforts in the hackathon.

 
 

In short, the 2-day blockchain hackathon sponsored by IBM and supported by various Singaporean governmental agencies and universities was a success and had achieved its objectives. The 16 teams showed how blockchain technology can be used in supporting various fintech innovation that can bring benefits to both developed and emerging markets. The future certainly looks bright for Singapore to be a fintech hub and for Singapore-based blockchain companies.
 

UPDATE 1 June 2015: Coin Republic posted a video of the DBS blockchain hackathon:

 

Disclaimer: Teams were given a short 3-minute for the final pitch. Explanations of the hackathon projects were described at the best understanding of the pitch.

 

CoinGecko's Content Editorial Guidelines
CoinGecko’s content aims to demystify the crypto industry. While certain posts you see may be sponsored, we strive to uphold the highest standards of editorial quality and integrity, and do not publish any content that has not been vetted by our editors.
Learn more
Tell us how much you like this article!
CoinGecko
CoinGecko

CoinGecko's editorial team comprises writers, editors, research analysts and cryptocurrency industry experts. We produce and update our articles regularly to provide the most complete, accurate and helpful information on all things cryptocurrencies. Follow the author on Twitter @coingecko

More Articles


Explore Polkadot's Ecosystem
Discover trending dApps, wallets, DeFi & more

What is Zeebu?
Learn more about the Web3 neobank


coingecko
Continue in app
Track prices in real-time
Open App
Select Currency
Suggested Currencies
USD
US Dollar
IDR
Indonesian Rupiah
TWD
New Taiwan Dollar
EUR
Euro
KRW
South Korean Won
JPY
Japanese Yen
RUB
Russian Ruble
CNY
Chinese Yuan
Fiat Currencies
AED
United Arab Emirates Dirham
ARS
Argentine Peso
AUD
Australian Dollar
BDT
Bangladeshi Taka
BHD
Bahraini Dinar
BMD
Bermudian Dollar
BRL
Brazil Real
CAD
Canadian Dollar
CHF
Swiss Franc
CLP
Chilean Peso
CZK
Czech Koruna
DKK
Danish Krone
GBP
British Pound Sterling
GEL
Georgian Lari
HKD
Hong Kong Dollar
HUF
Hungarian Forint
ILS
Israeli New Shekel
INR
Indian Rupee
KWD
Kuwaiti Dinar
LKR
Sri Lankan Rupee
MMK
Burmese Kyat
MXN
Mexican Peso
MYR
Malaysian Ringgit
NGN
Nigerian Naira
NOK
Norwegian Krone
NZD
New Zealand Dollar
PHP
Philippine Peso
PKR
Pakistani Rupee
PLN
Polish Zloty
SAR
Saudi Riyal
SEK
Swedish Krona
SGD
Singapore Dollar
THB
Thai Baht
TRY
Turkish Lira
UAH
Ukrainian hryvnia
VEF
Venezuelan bolívar fuerte
VND
Vietnamese đồng
ZAR
South African Rand
XDR
IMF Special Drawing Rights
Cryptocurrencies
BTC
Bitcoin
ETH
Ether
LTC
Litecoin
BCH
Bitcoin Cash
BNB
Binance Coin
EOS
EOS
XRP
XRP
XLM
Lumens
LINK
Chainlink
DOT
Polkadot
YFI
Yearn.finance
Bitcoin Units
BITS
Bits
SATS
Satoshi
Commodities
XAG
Silver - Troy Ounce
XAU
Gold - Troy Ounce
Select Language
Popular Languages
EN
English
RU
Русский
DE
Deutsch
PL
język polski
ES
Español
VI
Tiếng việt
FR
Français
PT
Português
All Languages
AR
العربية
BG
български
CS
čeština
DA
dansk
EL
Ελληνικά
FI
suomen kieli
HE
עִבְרִית
HI
हिंदी
HR
hrvatski
HU
Magyar nyelv
ID
Bahasa Indonesia
IT
Italiano
JA
日本語
KO
한국어
LT
lietuvių kalba
NL
Nederlands
NO
norsk
RO
Limba română
SK
slovenský jazyk
SL
slovenski jezik
SV
Svenska
TH
ภาษาไทย
TR
Türkçe
UK
украї́нська мо́ва
ZH
简体中文
ZH-TW
繁體中文
Login to track your favorite coin easily 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Forgot your password?
Didn't receive confirmation instructions?
Resend confirmation instructions
IT'S FREE! Track your favorite coin easily with CoinGecko 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Password must contain at least 8 characters including 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character
Didn't receive confirmation instructions?
Resend confirmation instructions
Forgot your password?
You will receive an email with instructions on how to reset your password in a few minutes.
Resend confirmation instructions
You will receive an email with instructions for how to confirm your email address in a few minutes.
Get the CoinGecko app.
Scan this QR code to download the app now App QR Code Or check it out in the app stores