Finance

Concord hosts $ 1 million hackathon to bridge DeFi and mainstream finance

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Based on the data out there, Concord Hackathon will final six weeks. The Hackathon will begin on August 15, 2021 and finish on September 30, 2021.

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There will probably be three classes, and every can have 4 challenges for the consultants to finish.

At present, the organizers, Concord blockchain, have revealed that registration for the occasion will start in August. As well as, over $ 1 million is on the market in seed cash and prizes for contributors. The corporate made the announcement Thursday on Twitter.

Based on the announcement, the hackathon goals to attain cooperation between conventional finance and decentralized finance.

Moreover, the workforce goals to carry extra individuals within the conventional monetary trade to sort out the challenges affecting each their trade and the DeFi trade.

A short on the following hackathon

Based on what Concord revealed, the Hackathon will probably be divided into three classes. These classes can have 4 challenges together with cross-chain and trustless bridges, cross-border integration with fintech, social wallets, and keyless safety.

Concord has additionally made statements on Twitter saying that blockchain finance is the place there may be product-market match. Nonetheless, lots of the individuals who created decentralized finance should not conventional finance.

Picture Credit score: Official Concord Twitter

Subsequently, Concord goals to carry extra conventional finance consultants so as to add their information to decentralized finance.

Concord additionally talked about that conventional finance consultants have loads to show them about DeFi. Likewise, DeFi practitioners may assist them higher perceive the trade and learn to use it. It’ll subsequently be a mutually helpful occasion for TradiFi and Defi.

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Relating to the occasion, Concord has revealed some individuals who will probably be talking on the occasion or serving as judges for attendees.

Based on the blockchain, these individuals embody Omakase, lead developer of SushiSwap, Lily Liu, co-founder of Earn.com, DeFi Alliance head Imran Khan, and different trade figures.

Moreover, occasion sponsors embody Messari, SushiSwap, CoinGeckom, Unstoppable Domains, DoraHacks, DappRadar, Hummingbot and The Defiant, an info platform.

A Temporary About Concord

Concord is a sharing protocol that makes use of a “Trustless Ethereum Bridge” to separate its blockchain into completely different segments. These segments are chargeable for processing and storing knowledge in parallel.

The Mainnet was launched in 2019, and since then the corporate has partnered with many others to push its operations additional. Moreover, Concord has additionally performed numerous integrations since then. For instance, he added Terra to his blockchain to make use of the token on ecosystem apps.

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The blockchain has revealed that it’s going to sponsor the Hackathon in June. Based on the blockchain, it goals to succeed in 10 billion customers, which is one option to obtain this.

Registrations will shut on August fifteenth, and groups can solely be 5 individuals. As soon as the submission deadline has been reached, the occasion will start.

Featured picture from Pixabay

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