Sunday, 24 October, 2021

Blockchain Olympiad

Bangladesh teams win 4 awards

  • Staff Correspondent
  • 12 October, 2021 12:00 AM
  • Print news
Bangladesh teams win 4 awards

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Bangladeshi teams clinched four awards including a silver title in the 2021 edition of International Blockchain Olympiad (IBCOL).

The team “Hopefully Hypothetically Theoretically” from Bangladesh won silver medal in financial technology category.

Rocket in e-governance, Brogrammers won in document authentication and DU Nimbus was awarded in financial technology.

The finale of the competition was held virtually, said a news release.

The event was held this time in Bangladesh. This is for the first time that this international event was held outside Hong Kong.

Hong Kong-based HelpProof clinched the title of the competition while VifaChain from Vietnam won the bronze medal in the competition which began on October 8.

Commerce Minister Tipu Munshi was the chief guest at the closing ceremony of the event at the ICT Division office in Dhaka on Sunday night.

State Minister for ICT Zunaid Ahmed Palak was present as special guest while Bangladesh Computer Council executive director Abdul Mannan presided over the session.

Blockchain is a type of database and collection of information that is stored electronically on a computer system.

Founded in Hong Kong, IBCOL is an annual competition inviting current and recent students to propose solutions to real-world problems with this technology.

Eight teams from Hong Kong, Vietnam, Bangladesh and Philippines won the prize money worth of $40,000 at the international competition.

Tipu Munshi said the Blockchain Olympiad is a remarkable event held with the participation of all including government, industry and academia.

“I believe that the International Blockchain Olympiad will take the research and development of such technology by the youth further,” the minister said.

He said, “The government of Bangladesh will always support the talents and efforts of the youth.”

State Minister for ICT Zunaid Ahmed Palak said the Blockchain will be used to verify value exchanges, transfer of ownership and transactions, “just as we exchange information across the Internet.”

ICT Division senior secretary Zeaul Alam and Bangladesh Securities and Exchange Commission chairman Prof Shibli Rubayat Ul Islam were present as guests of honor in the closing ceremony.

IBCOL 2021 organising committee chairman Habibibullah N Karim, Brac University distinguished Prof Mohammad Kaykobad and Hong Kong Blockchain Society President Dr Lawrence Ma and David Siegel also joined virtually.

At the event, four seminars were held on the issues including CBDC and cryptocurrency, e-Governance, identity and privacy and financial technology.