iOlite to sponsor Israel’s first blockchain for social impact hackathon

The July 12–13 event, sponsored by the creators of a platform empowering mainstream users with blockchain technology, will bring together diverse stakeholders with the common goal of using blockchain to create social impact.

iOlite — developers of a software enabling anybody to write smart contracts and blockchain applications in any language (programming or natural) — will be sponsoring the first ever “Blockchain for Social Impact” hackathon in Israel, from July 12–13. The event, which will take place on the Google Campus in Tel Aviv, is part of iOlite’s ongoing efforts to build an ecosystem across industries to accelerate mass adoption of blockchain.

The hackathon will bring together stakeholders from the public and private sectors — including businesses, startups, nonprofits, and academia — to combine forces in order to bridge the gap between the technology and innovation, with the common goal of creating positive social impact.

While every industrial sector — be it manufacturing, logistics, communications, or healthcare — has the ability to make a positive socio-environmental impact through optimized, energy efficient models of operation, there is still a need for a unified, adoptable, and transparent approach. This is where blockchain can play a role by serving as a catalyst for unifying diverse organizations under the common cause of addressing socio-environmental issues and creating positive social impact. Blockchain can drastically reduce paper waste, offer financial services to the unbanked in developing countries, and so much more.

The two-day hackathon will help build a community to address global socio-environmental problems through the disruptive power of blockchain. Participants, including entrepreneurs, environmentalists, investors, and other professionals will work together to come up with innovative blockchain/smart contract solutions. iOlite will award the team with the most innovative use of the technology for social good 20,000 iLT tokens. Participants will also be able to use the iOlite plugin to assist in writing Solidity smart contracts via Microsoft Visual Studio.

Despite its disruptive potential, blockchain adoption has been slow. This is in large part due to issues of scalability and usability. With many fears and misconceptions about the technology and a scarcity of blockchain programmers, businesses have been reluctant to incorporate the technology. To this end, iOlite has developed a “universal human-machine translation platform” to bridge this gap and make the technology accessible to all. Its decentralized platform enables users to write smart contracts and blockchain applications in any language (programming or natural). iOlite’s Fast Adaptation Engine (FAE) then translates it into blockchain code. What the FAE doesn’t recognize, it publishes to Iolite’s community of experts, who then generate knowledge back. The machine is thus constantly learning new languages and new ways to create code.

The creation of efficient and scalable solutions for blockchain technology is part of iOlite’s broader goal to build an ecosystem for mass adoption of the technology in order to create a positive social impact.

iOlite’s “Blockchain Adoption Meetup” in Zug last week, which coincided with the 2018 TechCrunch conference there, brought together industry leaders and professionals from a number of sectors to address the obstacles to the technology’s widescale adoption and discuss solutions.The meetup marked the establishment of the first ecosystem to facilitate mass adoption.

The upcoming iOlite hackathon will mark the expansion of this ecosystem into a social initiative to use blockchain’s disruptive power to make a positive global impact.

About iOlite

Founded in 2017, iOlite’s original mission was to address the challenges of bringing blockchain technology to the mainstream by bridging the language gap. The idea was to empower anyone — mainstream programmers, business professionals with no coding expertise, even your grandma — to write smart contracts using any language, programming or natural. This soon grew into a broader vision of creating an “AI-human” engine, accessed through software plugins installed in mainstream IDEs (e.g. Visual Studio), that would constantly learn how to communicate with any machine (e.g. blockchain), using any language required and supported by the community. The benefits of the iOlite technology are far-reaching. Signing a rental contract, filing an insurance claim, even streaming music securely and efficiently through smart contracts can become a reality for any business or individual. iOlite makes blockchain accessible to all. It allows for cost-effective ICOs, meaning higher returns and much lower risks for investors. Blockchain has the potential to transform and simplify our daily lives. iOlite brings the blockchain revolution to your doorstep.

Contacts:

Yael Tamar (CMO)

Yael@iolite