Fintech hackathon in Cape Town
Thank you to all who participated in Rehive’s recent fintech hackathon in Cape Town. We’ve hosted two events during June and have seen more than 25 developers and entrepreneurs building awesome fintech products. We also want to thank Rise Cape Town for providing the venue and free coffee! Checkout some of the projects at the bottom of this post.
We’re excited to announce that we’ll continue hosting one hackathon each month until the end of the year in Cape Town. This means you can continue working on your projects! Please add you name to this list if you want to join the next event later this month and feel free to join our community on Slack. Please contact us if you’re interested to collaborate or sponsor future events.
Rehive’s hackathon theme is to build any fintech app. Developers and entrepreneurs alike are all welcome. Teams organically form on the day. We provide participants with ideas and help them focus on the minimal functional product that they can build in a day. Ultimately our goal is to inspire participants to start real fintech businesses and therefore continuously challenge the viability of their proposed business cases. Rehive offers developer support, access to Rehive Platform and open source projects to get started. For those of you that don’t know this yet — Rehive makes it super easy to build a production ready fintech app without doing everything from scratch. Checkout our website to learn more. We’ve recently setup a subsidiary in Cape Town and we’re eager to help businesses in Africa.
There is currently an overwhelming wave of innovation happening in the fintech industry, particularly around blockchain. However, at Rehive we take the point of view that despite all the amazing new possibilities that blockchain brings, there is still a significant lack in technology resources to build even the most basic fintech applications. We’ve been building fintech products for the last three years and we find that there is a myriad of technology challenges which are a significant barrier to entry for new entrepreneurs interested in pursuing fintech business opportunities. Even larger organizations like banks and governments struggle to solve fintech problems efficiently. Unfortunately low level blockchain protocols are not yet in a state that makes it easy and flexible enough to build any kind of fintech app. In fact, blockchains often make things more complex for both developers and users (at least in the short term). Furthermore, many fintech use cases still rely on traditional payment rails, local regulations and are typically influenced by niche user behaviour, making the immediate need of blockchain based solutions even less viable.
In the same breath, we do see the long term value of blockchain technology and anticipate more and more interest from our clients. Rehive is already integrated on top of leading blockchains (including Bitcoin, Ethereum and Stellar) making it easy to leverage the advantages of blockchains as a store of value and payment rails. This means, if your business case can benefit from a blockchain integration (e.g. payroll application making global bitcoin payouts) you can easily do so without building everything from scratch. Read more about our blockchain related features here.
We believe it should be as easy to build a fintech app on Rehive, as it is to setup an e-commerce store on Shopify.
We’re looking forward to sharing more about Rehive in the near future. In the meantime, checkout our open source projects and let us know if you have any questions:
- React native app
- Ionic 1 app
- Angular JS dashboard
- Python SDK
- Django Starter project to setup your own hosted service