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TownSquare wins Bengaluru’s 24-hour blockchain hackathon

Coinswitch Building Future Cities Hackathon

‘Building Future Cities,’ a blockchain hackathon jointly organized by Startup Karnataka, Bengaluru South MP Tejasvi Surya, and CoinSwitch concluded in Bengaluru on August 6, 2022. The 24-hour hackathon received more than 2,000 registrations, with about 150 teams fighting it out to present the best blockchain-based solutions to urban issues.

Blockchain-powered solutions to urban issues

TownSquare—a team that ideated and developed a blockchain-powered platform to address community issues—emerged as the winner. TownSquare focuses on identifying civic issues and helping citizens vote on issues that need solutions.

Marvelous, a project that plans to leverage blockchain to bring more transparency to the real-estate sector came second, while Tautotree, a project meant to improve the state of urban forestry, was declared the second runner-up.

“It was inspiring to see young developers from different parts of the country develop blockchain solutions that address the real-world problems of Indians. At CoinSwitch, we believe this hackathon will kickstart an innovation cycle that will lead us to a blockchain-powered India,” said Vimal Sagar Tiwari, co-founder and COO, CoinSwitch.

The 24-hour hackathon saw three other finalists, including he_Turing (a contribution acknowledgment project), Finoverse (a permission ecosystem for setting up an audit trail), and Naaleba (a transparent workflow between government officials and citizens using digital identities).

Giving away the awards, Tejasvi Surya said, “For any country to progress, to be a superpower in the true sense, investing in foundational technologies and investing in emerging technologies is a non-negotiable policy requisite.”

The hackathon, which had a prize pool of ₹6 lakh, focused on the futuristic side of blockchain implementation across India. Apart from the award-winning technologies, the event also discussed decentralization in areas such as energy credits, waste management, and vaccine distribution.

FAQs

What is a hackathon in Blockchain?

A blockchain hackathon is a collaborative event where individuals or teams gather to develop innovative solutions using blockchain technology. Participants work intensively for a set duration, typically days, to create and showcase their projects. These events foster creativity, problem-solving, and skill development in the blockchain space.

What is a Web3 hackathon?

A Web3 hackathon is an event where participants collaboratively develop projects related to Web3 technologies, which include blockchain, decentralized finance (DeFi), non-fungible tokens (NFTs), and more. These hackathons typically focus on leveraging decentralized protocols and blockchain networks to create innovative applications.

Why do we need a hackathon?

Hackathons play a crucial role in driving innovation, skill development, and problem-solving while offering tangible benefits for personal and professional growth.

What is the main objective of the hackathon?

Hackathons serve as a platform for intensive problem-solving, idea generation, and collaboration, contributing to the development of innovative solutions and fostering a culture of creativity within the tech industry.

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