We ran the Gauntlet
For the past three months we’ve been introducing new peers to our network #GenerationBlockchain and helping them overcome their learning curves. Starting from a vision set forward this August, we’ve created a guided ramp for any student to get involved and make a name for themselves in this industry.
This November, we challenged student leaders in our network to host and participate in blockchain workshops and hackathons. After students already have bitcoin in their hands from the airdrop, brushed up on their 101 during BEM, the last step is taking action.
As an incentive to create hackathons, we reached out to a network of professionals in the industry who wish to see more students get involved. They agreed to look over an aggregate of the projects at the end of the month and give their honest feedback and criticism.
So without further ado, let’s reveal the winners of the first BEN Blockchain Gauntlet. Let’s see how the judges placed the winners.
3rd Place: Truth of Stake
Truth of Stake is a service for on-chain data providers attempting to find a consensus among a set of data by comparison (or by adding an additional layer of randomness when looking for a random element).
Some future applications of Truth of Stake include:
- Reputation systems based on historical actions
- a TruthCoin-like currency / tokens
- Standardization of feeds from data providers
Technology Used: Ethereum
Here is some anonymized critique and compliments from the Judges:
Truth of Stake seems like an interesting project, it’s an attempt to solve a problem that currently exists with getting external data on chain and does so in a nice simple way. It reminds me of Schellingcoin or a simpler version of Augur.
Truth of Stake shows promise — a method of bringing real world data into the decentralized world is a tough problem, and this seems to be a great step in the right direction of figuring out a good way to maintain data reliability.
Truth of Stake [had impressive] thinking, problem solving and potential integration with Oracles. It appears to have global potential application, including IoT.
Truth of Stake is useful layer, but [I] wonder about human manipulation as data is created.
2nd Place: Keystamp
Keystamp is an open-source Proof-of-Compliance standard on the blockchain. We propose an new open-source standard for integrating applied cryptography and blockchain technologies in existing corporate processes and commercial relationships, such as compliance policy implementation and audit. Specifically, we design an innovative set of policies and frameworks for using those technologies which allows financial services participants to generate and verify irrefutable proofs that specific individuals or organizations possessed information, performed actions or signed messages at a certain point in time. Keystamp is designed to be deployed within organizations, and is not decentralized.
Technology Used: Public key encryption using Bitcoin’s Elliptic Curve Digital Signature Algorithm, The Hierarchical Deterministic public key infrastructure of Bitcoin (BIP32), Cryptographic hash functions, Timestamps using OP_RETURN Bitcoin transactions (Blockchain), AES encryption
(In development) Open-timestamp infrastructure, Introduced BIP32 derivation standard for linking keys to identities.
Here is some anonymized critique and compliments from the Judges:
Keystamp was the most interesting from use case stand point. Blockchain based compliance solutions is what my blockchain startup’s current focus is, and I feel in the coming years many regulatory bodies will begin to pilot potential solutions like this.
I’m very impressed by the whitepaper and the level of thought and amount of work you put into this. Of all the projects, I think yours would be the most useful to a customer like the OSC or another large institution. My feedback is that your project description contains too many buzzwords. The meat of the description is basically this: “proofs that specific individuals or organizations possessed information, performed actions or signed messages at a certain point in time.” The rest of the wording seemed extraneous and served to confuse more than to intrigue. Your whitepaper, on the other hand, was compelling and professional.
Keystamp is a good idea with a structured theory, and [this might be able to] bring a significative innovation in corporate governance and commercial relationship management, in particular where there is high compliance and audit requirements, with the potential to bring relevant cost savings and a transparency improvement.
Proof of data existence is a problem most people/organizations don’t realize is a problem. This is a very clever way to solve this problem, especially the implementation of hierarchal deterministic keys.
Keystamp is cool, but [there is] not much description of how that’s different from existing systems, especially since its centralized
1st Place: Canada Bitcoin Blockchain
CBB completes the automation process of a Crypto Mutual Fund with RASTA (Recursive Automatic Sweeping Total Automation). This [service] automatically takes in bitcoin deposits from multiple sources and divests them into crypto-currencies immediately. It also converts crypto-currencies back into BTC when withdrawals are requested. Our service allows people to gain exposure to dozens of crypto-currencies without having to download dozens of wallets. Eventually, hundreds of currencies should be available through the platform.
Technologies Used: Bitcoin, RASTA (custom Bitcoin tech layer), javascript, websockets, Poloniex API, HTML, CSS, PHP
Here is some anonymized critique and compliments from the Judges:
One knock would be, that it lacked a paradigm shifting concept which is why it was rated lower than the first two projects. I totally like the direction they are trying to go in though.
The “Start Crypto Funding” page looks too much like a sales page. I understand that it essentially is a sales page, but if I’m shopping for an investment product I want to see financial details. The current page feels like I am selecting which level of Netflix subscription I want. The various cryptocurrencies listed do not leave a good taste in my mouth. Better to have a few different cryptos that you know best than to have a broad assortment of coins of dubious quality.I would like to know more about fund diversification, risk rating methodology, etc. Again, if you are trying to be a financial product, you need to make the user feel assured that they are trusting their money to someone who knows their stuff inside and out.
Canada Bitcoin Blockchain has a good look & feel and has appeal in the cryptocurrency trading market that is gaining more and more interest
I see this as almost a flagship application to the ability of decentralized smart contract applications. I am very impressed at the UI and functionality workflow — I see big potential here.
Canada Bitcoin Blockchain is really well thought out, mirrors Wealthfront and applies it to novel problem of altcoin exposure, and mentions good future developments.
Concluding the Gauntlet and Fall 2016 Initiative
We’d love to give a big shoutout to our beloved Patrons who help make these sort of events, networking, and grassroots blockchain community development possible. As a network of student volunteers, having an extra helping hand from the industry in terms of monetary AND feedback support is critical to helping us make maximum impact.
In the past 3 months, The Blockchain Education Network has been pushing students in our network to dive into this industry. We want our peers to see the same empowerment that we see and in effect give our generation the tools to overcome the challenging problems of our 21st century. We did this by:
- Getting 250 peers to download their first bitcoin wallet
- Creating a crowdsourced series of blockchain 101 videos
- Creating working prototypes that push the blockchain paradigm further and inspire others to do the same.
So what’s next?
The Fall 2016 Initiative almost doubled our BEN active membership within slack and the exponential growth is beginning to stress-test the logistics of the BEN Admin team itself. After seeing how student leaders took initiative to host events throughout these 3 months, we’re spending the holidays to invest in operational changes to our signup process and BEN chapter registration and management. We’re excited by the increasing ambition and motivation of students taking initiative to make change in their local communities, and want to invest in the tools that helps these leaders make the most impact.
Also… keep your calendars free for late June in Amsterdam. 😉 The BEN Netherlands team is planning an event like never before and invites the entire organization to celebrate and strategize for the coming year
