Banks set blockchain/Internet of Things challenges for SBC hackathon

Banks set blockchain/Internet of Things challenges for SBC hackathon

The future of the blockchain and the use of the Internet of Things in financial markets are among the challenges set out by banks participating in the next Startupbootcamp hackathon in London.

The three-day 'fintechathon', running from 13-15 February, will for the first time present developer teams with a set of challegnes and APIs from SBC partners, including MasterCard, Lloyds Bank, Rabobank, Intesa Sanpaolo, Route Sixty-Six Ventures, SBT Venture Capital and arvato Bertelsmann.

With registration for the event opening today, the first four challenges have been raised by Lloyds Banking Group, Rabobank, MasterCard, and arvato Bertelsmann.

For Lloyds, the big question is: "How can we use the Internet of Things or Artificial Intelligence in the most compelling and reasonable way to enhance banking in 2015?"

The Rabobank challenge takes on the bitcoin ecosystem, asking: "Show us what the future of blockchain technology looks like - how can it transform the internet to an internet of value and radically change financial services?"

MasterCard, meanwhile, would like to know: "How can we increase the uptake and usage of wallets by better integrating the registration into a purchase checkout?"

Coming at it from a media perspective, arvato Bertelsmann, asks: "Can you simplify the payment and order process on non-PC devices to boost conversion from TV and print advertising?"

Each team will get $500 in credits for use on the Google Cloud platform, and API access from the Open Bank Project and participating sponsors.

Developers will be competing for the best pitch, best technical solutions, best answer to a challenge, and the best overall concept, which comes with a $100,000 prize from Google to use on the Web giant's cloud platform.

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