BitX was a mentor and an API provider at the DBS Blockchain Hack, held in Singapore on May 8 – 9, 2015.
The Blockchain holds enormous potential in bringing new banking solutions to the billions of people in emerging markets, connecting them to a truly modern, digital, international economy.
The theme of the two-day hackathon was to find and create ways to solve one of the following challenges: How can blockchain technology be used to make bank-like services accessible, safe and easy for the “unbanked” and those in developing markets. How can blockchain technology make the existing banking experience more joyful and efficient. And lastly, can existing bank offerings (payment, loans, mortgages etc.) be made more efficient and less costly.
There were a total of 70 participants spread over 15 teams, all enthusiastically hacking away at innovative, new Blockchain uses for underserved markets.
Below is a recap from DBS. For more innovations happening at DBS, visit the Innovate with DBS LinkedIn page.
On the final day, ideas were pitched to a panel of very qualified judges (with banking, startup, fintech and crypto-currency backgrounds) and in addition to cash prizes, the winning teams are getting mentoring and assistance to take their ideas forward.
We’re proud to have been involved in the event and we’re very enthusiastic about all the exciting blockchain activity happening in South East Asia. If you are in the region, be sure to check out our operations in Indonesia and Malaysia.
Congratulations to all the participants and we’re looking forward to seeing more innovation in the space!