The SG Binance SAFU PRE-HACKATHON Ends with Fresh Perspectives for Future Solutions

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The SG Binance SAFU PRE-HACKATHON

The exhilarating pitch day started with teams scrambling to put the finishing touches on their projects and presentations. Many had endured overnight hacking to complete their code and finalize their pitch decks. Adrenaline ran high as teams fueled themselves with sustenance from a sumptuous breakfast for the last push.

SG Binance SAFU PRE-HACKATHON

With much anticipation and fanfare, the session kicked off at 1pm where each teams had only 3 minutes to present 2 days of hard work to the stellar team of judges from various fund groups, technology powerhouses and consultancy firms. Working on a time crunch, the 8 teams showcased their creations with the hope to qualify for Binance’s main SAFU Hackathon on 19-20 January 2019. Many of the solutions presented displayed an impressive blend of proficiency in technology capabilities and business acumen. Apart from showcasing their coding capabilities, teams were also able to present their token utility as well as monetization models that displayed pragmatism in their approach. 

The SG Binance SAFU PRE-HACKATHON

The SG Binance SAFU PRE-HACKATHON

Judges expressed pleasant surprise at the strength of the ideas presented by the teams despite the time constraint that they had. Interesting solutions that were lauded by judges include projects that considered the utilization of machine learning techniques and algorithms for early fraud detection as well as gamified credit scoring systems for ranking.

The SG Binance SAFU PRE-HACKATHON

Following the pitch session and after much deliberation, the judges were ready with their results.

And the winners are…

1. TrustMe - a twitter-like platform that runs on Raiden Network to help communities report on scams, frauds and malicious activities.

2. TeamSG - a machine learning solution to help crypto companies detect illegal activities on the blockchain

3. KYC Ether -  an identity check solution for platforms, exchanges and institutions to verify and qualify investors for investments.

The SG Binance SAFU PRE-HACKATHON

On a closing note, blockchain technology has ushered in the internet of value and has boundless potential to revolutionize the world. Through the hackathon, ideas presented offer fresh perspectives for the development of future solutions to protect the new wave of financial institutions, users and everyday trades. Binance and BitTemple, organizers of the hackathon, hope that security efforts to safeguard the industry can start from the ground up and hope to instill the drive in its community to work collectively to combat fraud and protect users. In 2019 and the years ahead, they hope that developers and companies will continue to focus on harnessing the benefits of the technology in itself for a more sustainable future for blockchain.

    Adapted from: Executive editor: Red
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