Crypto.com, a leading cryptocurrency exchange, has officially kicked off its first-ever hackathon in the Asia-Pacific (APAC) region backed by educational partners Singapore Management University and Melbourne Business School.
The competition calls on developers to build Web3 and AI-powered solutions to propose and address the most pressing needs in support of the 2030 Agenda for Sustainable Development.
The news comes three months after the exchange was granted the Major Payment Institution (MPI) license for Digital Payment Token (DPT) services by the Monetary Authority of Singapore (MAS) in Singapore. The license signifies the official recognition of Crypto.com’s compliance with regulatory requirements in Singapore, further solidifying its position in the market.
The inaugural APAC Hackathon is part of Crypto.com’s goal to encourage responsible innovation in the Web3 and AI sectors to tackle global sustainability challenges, with guidance from academic experts. This initiative also strengthens Singapore’s position as a hub for responsible Web3 and AI innovation.
The competition aligns its problem statements with SDGs, focusing on Quality Education (Goal 4), Decent Work and Economic Growth (Goal 8), and Climate Action (Goal 13). Registration is open to individuals or teams in APAC, aged 18 and above, with proposals due by September 29. Twelve participants will be chosen to advance to the incubation program, receiving mentoring and technical masterclasses to develop their concepts.
The Hackathon will conclude on November 14 during Singapore FinTech Festival week, with finalists receiving complimentary tickets to the event. Prizes include USD $20,000 for the first-place winner, USD $10,000 for the second place, USD $5,000 for the third place, and USD $1,000 for all other finalists.
The event is seen as a significant opportunity for young talents to explore AI and Web3 technologies, harnessing their disruptive potential for the benefit of humanity. For additional information about the Crypto.com APAC Hackathon, visit their official webpage before the submission deadline on September 29, 2023.
Commenting on the event, Hau Koh Foo, Director of SMU Institute of Innovation & Entrepreneurship, said: “The convergence of AI and Web3 is a precursor to a new technology era. Therefore, it’s crucial to prepare the next generation of young talents to harness the power of these disruptive technologies and mold their mindset to utilize them for the benefit of all of humanity. This hackathon is a significant way for students, youths, and enthusiasts to learn about these emerging technologies, how they can be used to make a positive impact on the world and be part of the next generation of changemakers.”
In a statement, Nadia Massoud, Professor of Finance at Melbourne Business School, said: “As an ambassador for Melbourne Business School, I am delighted to participate in the launch of our APAC Hackathon program hosted by Crypto.com.”
Professor Massoud added: “This initiative strongly resonates with MBS’ mission to foster innovation and nurture a vibrant talent ecosystem. In collaboration with esteemed partners, Crypto.com and Singapore Management University, we are excited to present this special program. We eagerly anticipate receiving outstanding submissions from throughout the APAC region and translating groundbreaking ideas into thrilling realities through the utilization of advanced technologies like Web3 and AI.”
To be eligible for participation, individuals must reside in the APAC region. If you’re interested in joining, please visit the official Crypto.com APAC Hackathon page at https://crypto.com/events/crypto-com-apac-hackathon-2023. There, you can find detailed information about the event, register, and submit your ideas by September 29, 2023.
Founded in 2016, Singapore-based Crypto.com is a pioneer of payments and cryptocurrency with a mission to accelerate cryptocurrency adoption and innovation while maintaining regulatory compliance, security, and privacy standards. With over 80 million global customers, Crypto.com is working towards this goal with its portfolio of consumer products, including the Crypto.com Wallet & Card App, the MCO Visa Card, Crypto Invest, Crypto.com Chain, as well as Crypto Credit.
Crypto.com exchange also provides customers with a better alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, and the Crypto.com Exchange. The Crypto.com Wallet allows users to buy, sell, and pay with cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Binance Coin (BNB), and Crypto.com’s MCO and CRO Tokens.