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HackCoin: A Digital Currency And Blockchain Hackathon

[HackCoin](http://www.hackcoin.io/) is an international digital currency and blockchain hackathon organized by HackCoin Ltd. It welcomes hackers and developers to participate in its hackathon events and test out their most creative ideas in digital currency fintech.

HackCoin aims to catalyse investments in the digital currency startup community, during its hackathon events and beyond. The prizes are focused on helping fund ideas, with a modest 1BTC first prize.

“We welcome fellow hackers to come and test out their most out of the box blockchain ideas, the applications could be ranging from crypto-currency to fintech and beyond. As long as you can imagine it, we’re game.“
— – HackCoin

The London event, on Friday July 24, was held at the Barclays Accelerator in Notting Hill. In total, 5 teams pitched their ideas on “Identity and the Blockchain.” The entries were judged on business and technological feasibility, and consideration of any legal issues for the end output. The winning team provided a solution that met all of the criteria of the competition, and went even further by providing working code for their idea.

The Runner Up in the competition was Charles Cai of dslogix who also developed a high quality idea, focusing on big data and its interaction with identity on the blockchain. Charles has mentioned on Twitter that he will continue to build his idea.

Nicola Chang presented her idea about social identity, where an organisation or someone within the community itself would be tasked with creating an identity for their community members.

Tim Pastoor flew in from Amsterdam to introduce 2way.io for the first time to the public, he aims to build his identity system using the Eris and NXT platforms.

“Our solutions are mainly based on Identifi, a truly peer-to-peer open source identity & reputation database, created by Martti Malmi (a.k.a. Sirius). Identifi enables electronic trust networks that can be used by both humans and machines.”
— – 2way.io

The last team presenting at the event was lead by Adam Cleary and his idea was user controlled ID with third parties used to authenticate details.

The event brought together many different, passionate participants who contributed their varied skillsets to the competition. The result was a high quality mix of ideas, presented in front of a judging panel composed of Simon Taylor fro Barclays Accelerator, Preston Byrne from Eris Industries, and Adam Vaziri from HackCoin.

Preston Byrne from Eris Industries, the principal tech sponsor for the hackathon, said that participants “were thinking about privacy, thinking about data and thinking about utility. It was really refreshing to see technology for what it is and what it can do.”

James Suddaby from Identity2020, co-sponsor for the event, offered a discretionary award consisting of an internship with the organisation. He also felt that the event was a success, going on to say, “It’s been the first hackathon I certainly been to, I met some amazing people, and I’m really inspired by the amazing piece of work from the winning team. I’d like to stay in touch and I’ll be around for the next one.”

Co-organiser of the event, Adam Vaziri, was enthusiastic about the future prospects of HackCoin as a hackathon event in the blockchain space. Speaking at the event he said “our next focus for HackCoin will be to hold an event in Mumbai, India. After that we are planning an event in Malaysia hoping to involve those important emerging economies into the international blockchain space.”

“I’d like to announce that this is the beginning of our international HackCoin season, so any teams which are formed at the London event next week will qualify to participate in our global event.”
— – Adam Vaziri

Making the event possible were the sponsors, the Barclays Accelerator provided the venue while Eris Industries and NXT provided the technology platform that participants used throughout the event. AlphaPoint and Merkle Tree contributed to the prize awards as well as Jetcoin, Factom, Groovix, Drachmae, Diacle, and SuperNet.

The next HackCoin in London will be on Friday, 28th August again at the Barclays accelerator in Notting Hill. The theme of the event will be “Trading and the Blockchain.”

Participants will be looking at what the future of digital currency trading will look like with new technologies, including the newly launched Ethereum platform. They will also explore building trading bots using the AlphaPoint API, and more secure ways of doing in-person and private digital currency Over The Counter (OTC) trades using aperta.io, which provides open source legal agreements.

“So what I’m interested in is whether we can make digital trading of tokens more seamless and secure at the same time, so that people can feel that it’s a natural thing to enter into a written contract with other people, yet more secure by virtue of them using a standardised written agreement. This is the experiment we are running with on aperta.io; we have devised open source agreements for everyone to use, anywhere in the world.”
— – Vaziri

The idea behind Aperta is to create an open-source repository for legal agreements. These legal agreements will be relevant initially to the digital currency and blockchain industry. Founded by Diacle, also run by Vaziri, one of Aperta’s first projects will be an International Swaps and Derivatives Association (ISDA) style OTC digital currency trading agreement freely available on the site. The same agreement will be on GitHub where any individual around the world may contribute towards its development. Once the website goes live anyone will be able to fill in a form and download a contract to send to a counterparty in seconds.

HackCoin is an open event – anyone, whether a coder, entrepreneur or someone simply interested in bitcoin can attend. Blockchain.info will be there setting people up with wallets and handing out goodies.

Although they have a stringent judging criteria which is based on feasibility they are essentially running a brainstorming session, so the the judging criteria will be far more relaxed.


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