Block’s TBD Hackathon grants to address gaps in payment systems

Block’s TBD has launched the  TBD Hackathon in collaboration with the Africa Bitcoin Conference.

The hackathon is an exciting competition designed to drive innovation, creativity and technological advancement of payments in Africa using the tbDEX open-source protocol.

The submission period for this hackathon will open on 31 July 2024 and close 15 September 2024. The hackathon culminates 9-11 December 2024 in Nairobi, Kenya, at the Africa Bitcoin Conference.
The TBD Hackathon initiative is aimed at unleashing the potential of African developers and innovators. The competition will bring together the best builders and entrepreneurs to address issues in payment systems across Africa.

Currently, many African countries face challenges such as limited access to banking services, high transaction fees and inefficient cross-border payments.

TBD’s open-source trust protocol, tbDEX, aims to address these problems by connecting users to wallet providers and financial institutions of their choice, surfacing competitive exchange rates and fees.
To register for the hackathon and learn more, start here: (www.tbdex.io/hackathon).

Hackathon Challenge

Developers across Africa will be tasked with developing a payment application that leverages the power of tbDEX –  develop a wallet application integrated with tbDEX.

They will be provided with a sandbox of example PFIs (Participating Financial Institutions) to test application’s functionality. Participants will work in teams of up to two people and are expected to build their projects using the tbDEX SDK.

Six teams of finalists will be chosen and flown to Nairobi, Kenya, to attend the Africa Bitcoin Conference and pitch what they have built to a panel of judges. The top-three projects will be awarded prizes as follows:

? First Prize: US$15,000 in BTC
? Second Prize: US$10,000 in BTC
? Third Prize: US$5,000 in BTC

“We encourage developers, entrepreneurs and innovators from all over Africa to participate,” said Angie Jones, Global VP of Developer Relations for TBD.
“Whether you are a seasoned professional or a passionate newcomer, the TBD Hackathon is the perfect platform to build the next generation of financial tools for the continent,”she added.

About tbDEX

tbDEX is an open-source trust protocol that connects wallet applications and liquidity providers. With SDK implementations available in TypeScript, Kotlin and Swift, tbDEX works for web, iOS and Android applications. tbDEX utilises innovative open technologies such as Decentralised Identifiers and Verifiable Credentials to securely validate counterparty identity and trust.

About TBD

As one of four businesses at Block (fka Square), TBD is focused on creating open and decentralised technologies to connect the financial world. Guided by this vision, TBD is building an open-source developer platform and infrastructure that enables everyone to access and participate in the global economy.

About the Africa Bitcoin Conference

The Africa Bitcoin Conference (ABC) is the continent’s leading event focused on Bitcoin adoption. ABC brings together experts, enthusiasts and innovators to explore the potential of Bitcoin in driving economic growth and development across Africa. The conference serves as a platform for networking, learning and collaboration, fostering a vibrant community of blockchain advocates.

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