This student-led non-profit organisation has a vision to build a community-driven by creating a positive impact through blockchain technology and we support its annual competition.
Blockchainers Ideathon 2022 Competition
The Blockchainers, one of the Masood Entrepreneurship’s partner societies, recently held the annual Blockchain Ideathon Competition on the 12 May 2022! Prizes of up to £4,000 were up for grabs for the most innovative Blockchain technology ideas with the potential to drive transformational change in the modern world. Participants had to showcase the business use case, business model, governance structure, investments, costs, and roadmap through a 10-minute pitch.
This year’s finalists showcased the immense capabilities, business perspective values and unique approaches to integrating Blockchain technology in a variety of sectors. Blockchainers’ 2021-22 Ideathon finalists were:
Arcube by Harvey Lowe and Prith Reddy
Arcube are proposing a new concept for the innovation of the insurance industry using Blockchain and cryptocurrency technology. Using existing insurance premium algorithms and telematics policies, a native cryptocurrency ecosystem will be developed for each company, complete with their own token(s), that will all be integrated into their existing systems. With this, insurance companies will theoretically be able to increase retention rates, lower risk exposure and increased scalability. It will also replace the need for raising funds through venture capital (VC).
This project is being designed and later trialled in a partnership between Arcube Limited and a car insurance company based in Manchester, UK.
Blueprint by Hak Jin Sim
Blueprint is an all-or-nothing crowdfunding platform that uses NFTs to allow projects to simultaneously raise funds and build an engaged community. It focuses itself as a Web3 blockchain crowdfunding platform built with cross-chain asset-backed NFTs and Stabelcoin pools, which enables projects to raise capital on a decentralised, permissionless and interoperable environment powered by Ethereum, Binance Smart Chain and Zilliqa. Blueprint also has an integrated NFT marketplace for users to swap NFTs and create liquidity.
The vision behind Blueprint is to increase trust in the crowdfunding process and to provide an infrastructure that leverages not only the financial aspect of crowdfunding, but other various non-financial aspects too. Blueprint aims to create a gateway to foster closer interaction ad cooperation between investors and projects, thus maximising the chance of funding success for start-ups.
Futarverse by Daniel Chiang and James Kirkham
Futarverse is attempting to combine the strengths of Blockchain’s current components and mechanisms to minimise the required time to verify transactions between each verification on the Blockchain. Although their idea is purely theoretical, they derive Futarchy decision markets to help refine and streamline the repetitive computations between every Blockchain node’s processing and storage of each transaction globally. The aim is to improve the scalability of Blockchain technology and dramatically shrink the shared state required between servers and computers, which in turn can reduce the energy consumption of current Blockchain processes.
Innovate J by Javier Lecha Navarro
Innovate J is proposing to create a private Blockchain based on Ethereum’s current model to serve as a database for all hospitals in the European Union. Governments will then access and provide a list of the authorised hospital personnel to monitor, add and remove data of each available organ on the Blockchain. The end goal is to create a secure and reliable way to locate and access organs due to the restrictions and specifications required behind organ donation in each respective country. By streamlining specific information, such as the location, size, age and blood-type of the organ, hospitals will be able to easily access this available information to hospitals in their local areas. For example, hospitals close to the Spanish-French border can request organs from across the country easily.
The addition and access of organ information on a Blockchain means the opening a path for people to receive organs from all around the European Union and increasing the transparency of the procedure. Hopefully, Innovate J aims to roll the initiative globally once their EU-focused roadmap is realized.
This year’s competition was especially insightful, with the panel of judges from the Blockchainers and the Masood Entrepreneurship Centre splitting up the £4,000 cash prize across all projects to support the pursuing of their ideas. The Blockchainers are proud to present the following awards to each project:
- Innovate J - £2000;
- Blueprint - £750;
- Futarverse - £750;
- Arcube - £500.