Blockchain or bitcoin’s distributed public ledger has been touted as one of the next biggest potential disruptions in technology, so much so that developers are organizing the first ever blockchain hackathon to be held in Dublin, Ireland. The event aims to gather developers and tech enthusiasts to build something new or game-changing.
Participants will have 50 hours to build a blockchain product from scratch, competing with 150 other people for the first prize of €5,000, the second prize of €2,000, and the third prize of €1,000. The product pitch should take no more than 30 seconds and participants can work within teams.
Blockchain Hackathon Details
Participants will also be under the training and mentorship of the Chainsmiths team, during which they will learn how to code and build blockchain products. Chainsmiths is a blockchain consulting group comprised of experts from various fields such as product management to financial regulation.
The hackathon will run from November 6-8, with a few speakers and workshops scheduled as well. Topics range from the basics of blockchain, bitcoin API, and talks from event sponsors, which include Fidelity Investments, Deloitte, DCU, and Hackers Founders.
So far, most of the blockchain applications have been focused on the financial industry, as 22 major banks have teamed up in a collaborative project to explore the distributed public ledger. Its uses for record-keeping, data storage, and trade settlement are currently being studied in several innovations labs across the world as well.
According to Chainsmiths, the blockchain era has already begun but the development is still at its early stages. While large institutions are already making steps to shift to this technology, there is still a shortage of skilled developers in this field. The group provides specialized consulting in cryptocurrencies and various kinds of blockchains and is based in Dublin, Ireland.