Harbinger 2023: A Global Hacker Marathon for Central Bank Digital Currency and Blockchain Scalability

02/15/2023 09:06 • Tech Ticker • 114 views

It is reported that the Bank of India (Reserve Bank of India) announced the second global hacker marathon Harbinger 2023. The activity has four key points, including its use case of retail central bank digital currency and blockchain scalability. Registration starts on February 22, and the deadline for proposal is March 24. The first prize is 4 million rupees (US $48000), and the winners will be announced in mid-August. Although Hackathon has invited global participants including individuals, it prefers those who understand India’s financial services industry and consumers.

The Bank of India announced the second global hacker marathon, including CBDC and blockchain scalability use cases

The Bank of India (Reserve Bank of India) has announced the second global hacker marathon Harbinger 2023. This event is expected to be one of the biggest developments in the fintech industry. The activity is designed to explore the potential of retail central bank digital currency and blockchain scalability. The competition will open up opportunities for global participation in this field. Through this article, we’ll explore different aspects of Harbinger 2023, including its objectives, registration dates, prizes, participants’ criteria, and more.

What is Harbinger 2023?

Harbinger 2023 is a global hacker marathon organized by the Bank of India (Reserve Bank of India). It provides opportunities for individuals and companies to showcase their innovation skills in the field of fintech. The core objective is to highlight the use cases of retail central bank digital currency and blockchain scalability in the financial industry. Participants can come up with innovative solutions that can improve the efficiency and effectiveness of digital currency transactions. This competition aims to bring together experts in the fintech industry to contribute to the development of digital finance.

Key Points of Harbinger 2023:

The hacker marathon is designed to focus on four key points:
1. Usage of retail central bank digital currency: The event will explore how retail central bank digital currency can be used to benefit the financial industry. Participants can come up with new ideas on how digital currency can be used in different financial sectors.
2. Blockchain scalability: Blockchain technology is essential in digital transactions. Participants can come up with innovative solutions to improve blockchain scalability.
3. Innovation: Participants can submit innovative proposals that can be used in the digital financial industry.
4. Practical application: The ideas submitted by the participants should have a practical application that can be implemented in the financial industry.

Important Dates

The registration for Harbinger 2023 starts on February 22, 2023, and ends on March 24, 2023. The competition period is five months, starting from the end of March until August. The winners will be announced in mid-August.

Prizes

The first prize of Harbinger 2023 is 4 million rupees (US $48000). The prize money for the first runner-up is 3 million rupees (US $36,000), and the prize for the second runner-up is 2 million rupees (US $24,000). These sums of money will be awarded to the innovative ideas that are selected for practical application.

Participant Criteria

Harbinger 2023 is open to global individuals and companies. While it invites global participation, it prefers those who understand India’s financial services industry and consumers. The competition is a great chance for those who have expertise and knowledge of digital currency and blockchain scalability.

Conclusion

The Bank of India’s (Reserve Bank of India) Harbinger 2023 is a great opportunity for fintech experts worldwide to showcase their skills and find practical applications for their ideas. The competition focuses on the transformation of the financial industry, particularly in the field of retail central bank digital currency and blockchain scalability. With a prize of 4 million rupees for the winner and a total of 9 million rupees for the top three innovations, Harbinger 2023 will undoubtedly attract the brightest minds in the fintech industry.

FAQs

Q. Can individuals from any country participate in the Harbinger 2023 competition?
A. Yes, the competition is open globally to individuals as well as companies.
Q. What does the Bank of India (Reserve Bank of India) aim for in organizing Harbinger 2023?
A. The main objective is to explore the potential of retail central bank digital currency and blockchain scalability.
Q. Is it necessary to have a deep understanding of the Indian financial services industry to participate in Harbinger 2023?
A. Although the competition is open globally, the Bank of India tends to prefer those who have a deeper understanding of the Indian financial services industry and consumers.

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