- IOTA Foundation will collaborate with the Odyssey Hackathon
- Odyssey connects corporate, governmental, and non-profit launching partners to pre-startups, startups, and SMEs
- The event plans to produce prototype solutions to real-life challenges
The Odyssey Hackathon works by connecting corporate, governmental, and non-profit launching partners to pre-startups, startups, and SMEs in order to breakthrough technology. During the event, 100 teams will be building solutions prototypes to support the international ecosystem. These prototypes should be designed to help the business, tech experts, legal professionals, and the financial regulators.
World’s Biggest Blockchain Hackathon
In 2018, the Odyssey Hackathon was attended by 1,000+ people. As a result, they were able to produce 64 prototypes. This year, Odyssey expects 1,500 attendees who will collaborate to resolve 20 real-life challenges in different areas. These challenges include public utility networks, self-owned digital ID, biometric data communication, and a lot more.
Teams will be competing for a cash reward of €200K and a chance to have access to the Decentralized Business Incubation Program. The programs can help them scale their solution with the partner consortia and Odyssey Acceleration Partners.
Iota foundation to help shape the contests
Participants can expect to get support from the IOTA Foundation during and after the event. The foundation has selected the challenges and ensured that they are compatible with the IOTA protocol so the participants can solve them using the tangle. Below are some of the tracks that the IOTA Foundation are choosing to support:
1. The IOTA foundation wants to support Vattenfall to transition to a more sustainable energy system with the use of the expansion of renewable production and climate-smart energy solutions for their customers. To come up with a solution prototype, the foundation has posed the Vehicle to Grid (V2G) challenge. This will allow them to see how Electric Vehicles can be used as mobile assets to enable electricity grid flexibility.
2. Another challenge in the event is a Nature 2.0 challenge. It requires building digital commons with the use of distributed ledgers & AI. IOTA Foundation is looking for teams to build ownerless systems that can deliver a net benefit back to the communities where they operate in. These systems can improve how our future communities operate.
3. Lastly, The Ministry of Justice and Security (Netherlands) challenges participants to build an open-source protocol for requesting and giving consent both in a immutable and standardised manner. This would be a crucial building block for e-commerce, medical systems and many other uses.
With the suitability of IOTA’s technology and prior work on charging solutions, IOTA believes that they can support these challenges.