IBM To Sponsor India’s First Bitcoin Hackathon HackCoin

If anyone ever needed more proof that India is becoming a major hub for Bitcoin, look no further.  HackCoin, a two-day hackathon event, will put most of its focus on coming up with new and creative ways to embrace Bitcoin and blockchain technology.  And such an event, can count on a major sponsor in the form of IBM.

HackCoin Hackathon Brings Bitcoin Blockchain Technology To IndiaHackCoin India

Unbanked and underbanked regions of the world can tremendously benefit from adopting Bitcoin and blockchain technology.  Even though there is no financial infrastructure to speak of for most people, they still deserve access to a basic form of finance.  And if traditional financial institutions aren’t willing to provide such a service, Bitcoin enthusiasts and blockchain developers will.

HackCoin is India’s first major hackathon event to put a large focus on digital currency.  By allowing teams of developers to compete in the field of Bitcoin and blockchain technology, HackCoin could be one of the biggest hackathons to keep an eye on in 2015.  And that idea is only fuelled because HackCoin is sponsored by none other than computer giant IBM, who are no strangers to digital currency development either.

The 1st 2nd of August are the dates to note in online calendars and the Bombay Stock Exchange is the place to be for those who want to attend HackCoin.  What better place to hold a hackathon focusing on Bitcoin and blockchain services than at the same building where India’s largest stock exchange is operating from?

“When planning the event in India, I managed to secure the Bombay Stock Exchange as a venue, this detail along with the value add of bringing together the much demanded blockchain community generated enough buzz to attract the sponsors.” – Bitstreet founder Raunaq Vaisoha told DigitalMoneyTimes.

It also helps that Bitstreet found a willing partner in Zone Startups, which is formally affiliated with the BSE Institute.  Bombay Stock Exchange’s parent company is BSE Institute, and thanks to these networking efforts between all parties, HackCoin will take place at this premier premises.

What makes HackCoin stand out from most hackathon is the fact not only blockchain developers are being looked at during this event.  Other areas of expertise, ranging from PHP to HTML and entrepreneurship to SHA, are more than welcome to attend this event as well.  India is really focusing on bringing more web-based Bitcoin and blockchain technologies to the country, an effort that can only be applauded.IBM

Not IBM’s First Venture In The Bitcoin Space

Attracting a major sponsor such as IBM is not a coincidence.  Earlier this year, news broke about IBM looking closely at blockchain technology for the “Internet of Things” project.  In fact, this project – called ADEPT – is a collaboration between IBM and Samsung and aims to achieve a new level of technology without relying on central controllers.

“Applying the blockchain concept to the world of [Internet of Things] offers fascinating possibilities.  Right from the time a product completes final assembly, it can be registered by the manufacturer into a universal blockchain representing its beginning of life.  Once sold, a dealer or end customer can register it to a regional blockchain (a community, city or state).” ADEPT Draft

It goes without saying that IBM is keeping an interest in blockchain technology, as well as Bitcoin while their own project is still in development.  The world of technology is evolving at an accelerated pace, and it is in the best interest of these major companies to try and keep up with blockchain technology as well.

Source: Press Release via Email

Images courtesy of Shutterstock and HackCoin