Recap: aelf at NUS Fintech Summit 2024
Embarking on a Journey to Nurture Fintech and Blockchain Innovation
As part of our Campus Outreach Program, aelf proudly took center stage as a platinum sponsor for the NUS Fintech Summit 2024 where we sponsored a Hackathon track price. In collaboration with NUS Asian Institute of Digital Finance (AIDF) and NUS FinTech Lab, the summit unfolded from December 20, 2023, to January 19, 2024, and saw the birth of 37 projects, 44 hackathon teams and 639 participants. From an exhilarating hackathon with a $40,000 prize pool to insightful workshops and panel discussions hosted by industry leaders, the event served as a dynamic platform for tertiary students to gain valuable perspectives on the ever-evolving Fintech landscape. Let’s relive the aelf highlights of this month-long event of innovation and knowledge exchange!
Kicking off NUS Fintech Summit 2024
On December 20th, we kicked off the NUS Fintech Summit 2024 with a virtual sharing to introduce participants to aelf, our problem statement and how to ace the ideathon. Participants were excited and had a keen interest in asking questions about the judging criteria and how they can value add to the aelf ecosystem.
Our problem statement “What kind of enterprise solutions/products can we build on aelf to make it more user-friendly for the masses?” searches for solutions that have a strong enterprise value proposition with an intuitive retail user experience. By January 1, we saw 7 project submissions that covered a range of industries such as supply chain management, tourism and retail.
Where Ideas Grow and the Real Hacking Begins
Opening Ceremony
On January 5, the opening ceremony of NUS Fintech Summit 2024 was held and it set the stage for an exciting and innovative gathering of Fintech enthusiasts. The ceremony began with a recap on the hackathon track categories, each one representing a unique challenge in the world of financial technology. Following the introduction of the track categories, an aelf Q&A session was held with the participants, allowing them to ask questions and gain insights about our problem statement and what we are looking out for. This interactive session fostered engagement and collaboration, setting the tone for a dynamic and productive hackathon.
aelfinity Developer Workshop
In the afternoon, we held our aelfinity Developer Workshop which was led by Steven Deng, the CTO of Portkey. The workshop offered a comprehensive dive into the evolving world of Web3, presenting participants with a valuable opportunity to expand their knowledge and skills in this cutting-edge domain. Key topics included an in-depth exploration of NFT and token creation on the aelf blockchain, writing a smart contract and integrating the Portkey into Decentralised Applications (DApps). This combination of theoretical knowledge and practical application made the workshop an invaluable experience for those looking to delve deeper into the Web3 space. With this newfound knowledge, the 6 teams who participated in the ideathon under the aelf track continued to work on their prototypes and submitted their final prototypes by 11 Jan.
Knowledge Sharing and Putting Concepts into Practice
Workshop Day
On January 12, we held a seminar titled “A Decentralised World for Tomorrow,” led by Leong Han Wai, aelf’s Business Development Manager. The seminar began with an introduction to the decentralised world, laying a solid foundation for understanding its potential impact and benefits. We then went into the session’s focus, which was how to bridge the gap for mass adoption of decentralised technologies. This included strategies for enabling enterprises to integrate blockchain into their operations through side chains, empowering users through seamless user experience, and equipping developers with the necessary skills and tools to build.
Hacker House
During the Hacker House on January 17, our tech team provided 1:1 support to the shortlisted 4 projects, guiding them through any development or integration issues faced. Most of the teams had already refined their prototypes and were working on introducing new features into their product as they geared up for Demo Day.
Presenting Ideas and Championing the Rise of Fintech
Demo Day
At the last stage of the NUS Fintech Summit 2024, brilliant minds and expectant hearts filled a convention room at Suntec City on January 19 for the much-awaited Demo Day. The top 4 teams took turns presenting their products — all eager to emerge as champion for aelf’s hackathon track.
The hackathon judging for the aelf track was done by Steven Deng, CTO of Portkey, Hazel Zhang, Head of Investment, and Linda Ang, Head of Strategy.
The first team, Ghost Club, shared their project GEO, a decentralised “travel-to-earn” platform, that uses Decentralised Identifiers (DIDs) and NFTs for community building and earning rewards. The second team, Turning Red, presented a blockchain-based solution that maintains transparent and secure data for supply chains. The third team, Blockchain Buddies, ran the judges through TrustChain Lite which centred on ensuring the authenticity of products through NFTs. Finally, the last team, Chain Champ presented their blockchain-based loyalty program designed to revolutionise customer engagement and retention for FMCG companies.
aelf Booth at Career Day
At the Career Day booth, the aelf team took the opportunity to introduce attendees to the cutting-edge blockchain technology that aelf offers and highlighted its unique features and potential to revolutionise the blockchain industry. For undergraduates, we extended an opportunity for them to join the aelf Ambassador Network Program as well as to apply for a variety of open internship positions available. Visit our LinkedIn page for more open roles.
Winner announcement
After careful consideration by our 3 judges, Steven, Linda and Hazel, Chain Champ emerged as champion, clinching the Grand Prize of SGD 5,000. The project was praised for their innovative solution, enthusiasm, and being able to efficiently bring their ideas to life through their prototype and live demo. The first runner-up, Blockchain Buddies, had also impressed the judges with their NFT-based inventory tracking solution while the second runner-up, Turning Red, came close with their supply chain blockchain solution.
Concluding aelf’s First Developer Event for 2024
The NUS Fintech Summit 2024 was a resounding success, showcasing the vibrant potential and innovative spirit of the Fintech sector. Our involvement in hosting one of the hackathon tracks was a highlight, providing a platform for creative minds to converge and develop groundbreaking solutions. The developer workshops we conducted were equally impactful, offering valuable learning opportunities and fostering a community of knowledge-sharing among participants. Our role in judging projects at demo day was both an honour and a responsibility, as we witnessed firsthand the remarkable talent and ingenuity on display. The recruitment booth we set up proved to be a fruitful endeavour, attracting a plethora of skilled individuals eager to contribute to the Fintech ecosystem. The event’s culmination was the much-anticipated announcement and awarding of the top three winners of the aelf track in the hackathon. This moment not only celebrated the exceptional achievements of the winners, but also underscored the importance of innovation, collaboration, and excellence in driving the Fintech industry forward. The summit left us inspired and eager to continue playing an integral role in shaping the future of blockchain and Fintech!
About aelf
aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability. aelf blockchain is designed to power the development of Web3 and support its continuous advancement into the future. Founded in 2017 with its global hub based in Singapore, aelf is one of the pioneers of the mainchain-sidechain architecture concept. Incorporating key foundational components, including AEDPoS, aelf’s variation of a Delegated Proof-of-Stake (DPoS) consensus protocol; parallel processing; peer-to-peer (P2P) network communication; cross-chain bridges, and a dynamic side chain indexing mechanism, aelf delivers a highly efficient, safe, and modular ecosystem with high throughput, scalability, and interoperability.
aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3 and the adoption of blockchain technology.
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