TBD, a subsidiary of Block, has announced the launch of the TBD Hackathon in collaboration with the Africa Bitcoin Conference.
The competition aimed to drive innovation and technological advancement in payment systems across Africa using the tbDEX open-source protocol.
The organisers said in a statement on Monday that developers across Africa were invited to participate by developing a payment application that leverages the power of tbDEX.
The challenge involves building a wallet application integrated with tbDEX with access to a sandbox of, for example, participating financial institutions to test functionality.
According to the firm, developers will work in teams of up to two people and are expected to build their projects using the tbDEX SDK.
It added that six teams of finalists would be chosen and flown to Nairobi, Kenya, to attend the Africa Bitcoin Conference and pitch what they have built to our panel of judges.
The firm revealed that the top three projects will be awarded prizes as follows: First Prize: $15,000 in Bitcoin; Second Prize: $10,000 in Bitcoin; Third Prize: $5,000 in Bitcoin.
It added that the submission period would close on September 15, 2024, and culminate on December 9–11, 2024, at the Africa Bitcoin Conference in Nairobi, Kenya.
According to the organiser, the hackathon offers a unique opportunity for African developers to create innovative payment solutions, addressing challenges such as limited access to banking services, high transaction fees, and inefficient cross-border payments.
The Global VP of Developer Relations for TBD, Angie Jones, said, “We encourage developers, entrepreneurs, and innovators from all over Africa to participate.”
“Whether you are a seasoned professional or a passionate newcomer, the TBD Hackathon is the perfect platform to build the next generation of financial tools for the continent.”