With the cryptocurrency and blockchain technology phenomenon still in its infancy, there appears to be a jurisdictional arms-race to become the de-facto nation state of choice. Whilst locations such as Singapore, Japan and even the U.S. are often cited as “Blockchain Friendly”, many believe that the small European island of Malta is leading the way.
In fact, earlier in July of this year, Malta became the first country in the world to pass a stringent regulatory framework for those looking to incorporate a legal entity in the distributed ledger space. Having just hosted the Delta Blockchain Summit, the island will soon be hosting the much anticipated Blockchain Hackathon.
Being held at the InterContinental Hotel in the vibrant Maltese city of St Julian’s, the hackathon contest is offering innovative blockchain developers the chance to win 50,000 Euros in prize money. For those unaware of what a hackathon is, it is a competitive event whereby individuals or teams intensively compete on a software project.
With respect to blockchain technology, a hackathon will most commonly see participants engage in a specific challenge — for example developing a new decentralized application (dApp) or smart contract protocol. Interestingly, such a contest not only gives talented developers the opportunity to showcase their proficiencies on the global stage, but it also allows corporate entities to scout in-demand skill sets.
Malta combines world leading speakers with hackathon opportunities
The aforementioned hackathon will run in correlation to the Malta Blockchain Summit, which will also be held between 1st-2nd November. The conference itself will see a range of well-known speakers from a plethora of angles linked to cryptocurrencies and blockchain technology.
On top of having the chance to meet over 5,000 delegates from a variety of sectors, the Summit will also facilitate an ICO pitch battle. In a nutshell, those interested in showcasing their upcoming fundraising campaign will be given the opportunity to pitch their project, followed by a Q&A session by an official jury, investors and members of the audience themselves. The top four presentations will not only have their concept amplified to the masses, but they will also receive a prize of 25,000 Euros.
Regarding the hackathon itself, although the exact challenge will not be announced until the day of the event, it is believed that the project will center on decentralization and distributed solutions. Those looking to participate can either enroll as an individual or a team, however, individuals will subsequently be grouped together to formulate a team. To ensure that the participants are able to showcase their talent in the best way possible, the hackathon will also utilize the services of industry-leading mentors.
How ChronoBank takes part
Chronobank CTO Mikhail Savchenko was invited to mentor the hackathon and to share his knowledge in software development, security, and cryptography with the participants. A seasoned programmer with over 20 years of experience, Mikhail applied his skills to blockchain development since the infancy of bitcoin and is no stranger to taking part in hackathons himself. Recently he won a fintech hackathon at which he presented a trusted document exchange based on IPFS, forming now a key part of ChronoBank’s functionality.
“It is always breathtaking to take a look at how the industry is developing and growing together with the professionals,” Mikhail comments. “We are looking forward to finding interesting ideas, solutions, and use cases; to share our own experience that the ChronoBank team has accumulated, and to discuss the frameworks we have been using while working on the ChronoBank products.”
During the Blockchain Summit, the ChronoBank core team will be happy to see you at the booth #256.