CoinSwitch To Collaborate With Startup Karnataka To Host Blockchain Hackathon

CoinSwitch, crypto investing app, is organizing a blockchain hackathon, titled 'Building Future Cities', in collaboration with Startup Karnataka, a Karnataka government initiative and Bengaluru South MP Tejasvi Surya, to recognize blockchain-based solutions for the everyday problems facing by the citizens across the country.

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"Karnataka is the torchbearer of digital India. The state has an excellent track record of close collaboration between the government and entrepreneurs. This hackathon enables Karnataka to carry this success story to the next frontier of technology, blockchain and empowers young innovators to utilize the power of blockchain for the public good," said Dr. Ashwathnarayan, minister for higher education, skill development, entrepreneurship and livelihood in the Karnataka government, in a statement.

According to a statement, the hackathon will challenge participants to envision a blockchain-powered India, with a focus on smart mobility, energy credits and trading, decentralized waste management, secure digital identity and certificate management, efficient and transparent vaccine distribution, farm suppliers and supply chain management.

The winners will be rewarded with a prize of INR 3 lakh and the total prize of the hackathon is INR 6 lakh. Participants can enter the competition individually or in a team of up to 4 members. Centered around the themes of smart city, digital governance and supply chain, building future cities, the hackathon aims to kickstart a web3 innovation cycle tailored and customized for India. The hackathon is also supported by Sequoia India, the statement added.

Expressing the views on hackathon, Tejasvi Surya, MP, said in a statement that, "We are now ready for the next big technological leap, to build a blockchain-powered India. I am delighted to partner with COINSWITCH for a first-of-its-kind blockchain hackathon and sow the seeds of India's future in Bengaluru."

Commenting on the same, Ashish Singhal, co-founder and CEO of CoinSwitch, said in a statement, "Blockchain is a powerful technology that will reshape every facet of our life. Building Future Cities blockchain hackathon is our effort to kickstart an innovation cycle in India for India, by equipping and enabling India's strong pool of developers and innovators. At CoinSwitch, we have always believed that India will be the launchpad of a web3 world. The hackathon is a step to realize this goal. I am excited to see what the young and smart minds of India bring to the table."

CoinSwitch is secure, user-friendly platform for Indian users, where they can buy more than 100 cryptocurrencies like Bitcoin, Ethereum, Ripple and so on, with a variety of payment options being offered. The users can access the pooled liquidity of the leading exchanges in India to get the best rate and trade instantaneously, after completing the KYC/AML procedures, as per company website.