Here’s How AUB’s Hackathon Involved Lebanese Youth In Tackling Hyperinflation

It’s no secret that Lebanese residents are dealing with unprecedented challenges: financial, well being, and humanitarian crises. Nonetheless, what retains us going is the hope we share and the youth which are the spine of Lebanon’s future.

“I <code> for Lebanon” is an initiative launched by the Darwazah Heart for Innovation Administration & Entrepreneurship​ of the Olayan Faculty of Enterprise (OSB) on the American College of Beirut (AUB).

Its primary purpose is to showcase the significance of involving the youth to find concrete options that assist with the continuing hyperinflation by way of blockchain and cryptocurrency.

The Hackathon was held on Could 27, 28, and 29, 2022. Previous to this, the individuals had the chance to attend preparatory lectures that target the potential of blockchain in serving to with hyperinflation.

Following the workshops, the 6 groups had been skilled by consultants to discover ways to simply translate their concepts into an actual answer.

Throughout the opening ceremony, 2 panels that characteristic cryptocurrency consultants tackled the related Lebanese native issues in addition to how the worldwide patterns can have an effect on Lebanon.

The individuals had 48 hours to organize earlier than demo day. On the day of the competition, the jury was made up of internationally famend crypto and blockchain consultants, researchers, and builders.

Lastly, the hackathon was clotures by awarding 4 profitable groups that acquired money prizes from the occasion’s sponsors:

• 1st Prize: CrypLock – The profitable group got here up with the concept of a digital escrow that “brings trustless operations to over-the-counter crypto transactions.”
• 2nd Prize: Cash2Coin – The group proposed stablecoins to facilitate crypto transactions.
• third Prize: Walleti-Improve Mass – It tackles “market adoption of crypto by providing pre-paid crypto scratch playing cards and an app.”
• 4th Prize: D-Financial institution – The startup targeted on “enhancing SME status constructing by way of blockchain-based networks”