Wednesday, TBD a subsidiary of Block, announced the launch of tbDEX Hackathon, a groundbreaking competition designed to propel payments innovation in Africa.
Held in partnership with the Africa Bitcoin Conference, the hackathon aims to empower African developers and entrepreneurs to leverage the power of tbDEX, TBD’s open-source trust protocol, to tackle critical challenges in the continent’s payment landscape.
The hackathon, open to developers from across Africa, challenges participants to build a payment application utilizing the tbDEX protocol.
Participants will be provided with a sandbox environment to test their applications, integrating with example Participating Financial Institutions (PFIs). Teams of up to two will work together, utilizing the tbDEX SDK to bring their payment solutions to life.
“We’re excited to see the creative solutions that African developers will bring to the table,” said Angie Jones, Global VP of Developer Relations for TBD. “This hackathon is a platform for building the next generation of financial tools, addressing the unique needs of the African market.”
Addressing Key Payment Challenges
Africa faces significant challenges in its payment systems, including limited access to banking services, high transaction fees, and inefficient cross-border payments. tbDEX, with its decentralized, trustless architecture, aims to bridge these gaps by connecting users to their preferred wallet providers and financial institutions, offering competitive exchange rates and transparent fees.
Hackathon Timeline and Prizes:
Submission Period: July 31, 2024 – September 15, 2024
Finalist Announcement: TBD
Final Event: December 9-11, 2024 at the Africa Bitcoin Conference in Nairobi, Kenya
Six finalist teams will be selected to showcase their projects at the Africa Bitcoin Conference, vying for a share of the grand prize pool:
First Prize: $15,000 in BTC
Second Prize: $10,000 in BTC
Third Prize: $5,000 in BTC
The TBD Hackathon represents a significant opportunity for African developers to contribute to the future of payments. It will leverage the power of tbDEX and showcase participants talent critical in shaping a more inclusive and efficient financial ecosystem across the continent.
To register and learn more about the hackathon, visit: www.tbdex.io/hackathon