Announcing Winners of DigitalBits Blockchain Hackathon

Sara Sciusco
Dec 24, 2021 · 6 min read

On December 20, 2021, The DigitalBits Foundation, announced the winners of its hackathon, which rewarded the developers of technology that makes use and integration of the Digitalbits blockchain into everyday applications. Each team developed a solution to address one of four key business challenges in the following categories:

1) Marketplaces: develop a platform, plugin, or application that connects buyers and sellers of a specific type of consumer digital asset. NFT Marketplace is an example.

2) Ecosystem tools: develop tools to help stakeholders navigate and access the DigitalBits network. Bridges, on-chain data aggregation systems, and so forth are examples.

3) Customer-friendly: develop a platform that connects the DigitalBits network and DigitalBits-based content. An online game that employs in-game digital currency, a loyalty point or fan token generator, an e-commerce platform, a game that uses NFTs, and other examples are available.

4) Asset management: develop a tool or platform to assist people in managing their investments. Examples include Web wallets, mobile wallets, lending and borrowing platforms, and other services.

Teams submitted a project overview and a demonstration video. The hackathon received more than 300 entries. Prize winners were rewarded partially in XDB Tokens and partially in mentorship and operational support. The hackathon ended on November 30th and three winners were chosen. Based on the nature of the submissions, it was decided to reward 3 winners. According to the regulations, the first two winners presented a minimum viable product, while the third project delivered a prototype.

The three winning projects are:

1st Place: Coffee Chain

Coffee Chain is a platform operating on blockchain that allows customers to buy products that are 100% organic, socially responsible, and authentic. Through the inclusion of blockchain technology, it allows each product to be tracked and validated from the source of origin to the end of the distribution chain. The aim of Coffee Chain is to create a platform for consumers as well as producers to operate with clarity, transparency, fairness, and confidence in all aspects of the supply chain, further enhancing fair trade in this industry.

Coffee Chain has already gained traction in a number of ways. Their aim is to provide a voice for the various cooperatives. This is done by discovering the points of concern for these producers along the distribution chain. This allows for Coffee Chain to build an action plan and use the implemented technology to bring benefits back to the producers, rather than e-commerce or wholesalers who break the fairtrade along the chain. Where Coffee Chain differs from current implementations of this idea across the world, in areas such as wine and beauty, is the fact that they are deploying this in a socially-responsible way. This is almost essential for various cooperatives around the world to be able to keep up with the ever evolving technology being implemented. Coffee Chain is the stepping stone and voice for producers to be able to ensure fairtrade is being applied consistently and justly across the globe. How does Coffee Chain leverage the DigitalBits blockchain?

Coffee Chain leverages the DigitalBits Blockchain technology by checking the authenticity of the product, which is done through a multistep process:

  • Each product on this platform has its information minted as an asset on the DigitalBits Blockchain. This information includes the image of the product, its name, and the supply chain process that sources the product.
  • Once minted, this asset has a unique signature on the blockchain.
  • This signature is converted into a QR code, which is then attached to the packaging of the product.

Should a consumer wish to validate their product, they can use the Coffee Chain website to scan the QR code attached to the product, and this scanner can alert consumers if the product is counterfeit. If the product is genuine, on the other hand, then the Coffee Chain website can list the supply chain that is used to source the product, as well as the details stored on the DigitalBits Blockchain, such as the journey the product has taken, its origin, and the regions/locations involved in transport.

Fig. An example of Coffee Chain detailing the product as well as the supply chain used to source the product.

2nd Place: Cobalt

Cobalt is a great new piece of asset management to progress the DigitalBits blockchain and has been built for mainnet and entirely tested on the DigitalBits testnet. The wallet is functionally complete and is currently a fully featured mobile and desktop wallet. Cobalt has been tested on Windows and Mac and has been confirmed operational on these, respectively. It has also been suggested to have been working on Linux and Android also, despite not having been tested yet. It’s also worth noting that the wallet may be used on the public mainnet with a little tweaking.

The wallet itself is constructed as expected and includes standard features such as;

  • Storing and sending of XDB Tokens
  • Swapping one token for another that is on the DigitalBits blockchain
  • Removal of assets from the wallet
  • Viewing past transactions

The wallet has to be cleaned by the user. There should be a settings page where you may modify the currency shown, the language, and other options. Finally, a UI enhancement to make the user experience more pleasant.

3rd Place: EstateUp

EstateUp is a great project designed to evolve and digitalise the paper-based system of wills. A fascinating, but necessary change is required for the industry. With millions of people burdened by a slow, draining, and difficult process, EstateUp provides the fundamentals to allow a redistribution of assets while maintaining the integrity of the documents and process. EstateUp uses the DigitalBits blockchain to tokenize and digitalize wills, be they existing or new. Through this, EstateUp provides opportunities for older, traditional financial systems to access blockchain technology to provide the means to support and mediate the distribution of assets in the will to the desired beneficiaries. The process is designed not only to appeal to crypto users but also to people outside of crypto. Overall, the aim is to provide a simple, user-first process that is supported and leverages the DigitalBits blockchain. EstateUp’s process is very important to highlight. EstateUp actively encourages the growth of users amongst the ecosystem due to the fact that there are always more than just the creators using the blockchain and platform. This is displayed below. EstateUp presents a unique implementation of the blockchain technology, with processes that mirror the execution of a will. To summarize the process, it works in two stages.

The first stage is the creation of a will. A user that would like to create a will registers on the EstateUp platform and places their funds into the XDB generated wallet that is generated by the platform. The will creator then invites four beneficiaries who will have a claim on the will that will be drafted. This is very important to highlight. EstateUp actively encourages the growth of users amongst the ecosystem due to the fact that there are always more than just the creators using the blockchain and platform. Hereafter, the creators can write their will and the details that ensue. Once the will has been written, it is encrypted, and then this encrypted will is written onto the DigitalBits blockchain. This encryption will ensure that the contents of the will are not publicly available. At this stage, the creation of the will is complete.

The second stage delves into the recovery and execution of the will: To prevent a rogue beneficiary from activating the will, two beneficiaries have to start the process. Once this happens, the encrypted will that is stored on the blockchain is decrypted and viewing of the will for beneficiaries is automatically provisioned. XDB is used as the proof of ownership in this example. Finally, a detailed log of who accessed the will is also stored on the blockchain.

As the blockchain world continues to grow, Digitalbits continues to maintain its commitment to working with talented people, through innovative events, to further expand what is expandable and make the world more productive and sustainable.

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DigitalBitsOrg

DigitalBits is a protocol layer Blockchain designed to help…

DigitalBitsOrg

DigitalBits is a protocol layer Blockchain designed to help facilitate mass market liquidity for various digital assets, and integrate with existing apps to drive market-adoption of Blockchain technology.

Sara Sciusco

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#Management | #Blockchain, #Crypto, #IDO, #ICO & #DeFi | #Marketing | #InvestorRelation |

DigitalBitsOrg

DigitalBits is a protocol layer Blockchain designed to help facilitate mass market liquidity for various digital assets, and integrate with existing apps to drive market-adoption of Blockchain technology.