Bancor Wins First Place Again at International Startups Competition

On Thursday Finance Magnates visited the Tel Aviv Stock Exchange (TASE) to witness Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term coders developing solutions for the future economy and pitching them to some of the biggest banks in the world.

Moises Cohen, co-founder of The Floor, said: "The First International Blockchain Hackathon, organized by The Floor, Intel and TASE, together with the support of HSBC, Intesa SanPaolo, Accenture, CTBC, Deutsche Bank and KPMG, was a huge success. Not every day do you find some of the biggest “brains” on DLT worldwide in the same room.

Teams came from all over the globe (US, India, South Africa, Belgium and of course Israel) to join in the Hackathon both contributing their amazing ideas as well as aiding us to significantly increase the awareness in the Israeli ecosystem about the potential of DLT and its use cases that could revolutionize the way we bank."

The Winners

Out of dozens of teams that took part in the competition, a panel of expert judges selected two startup winners and two established developers and corporate winners. First place among the latter went to Bitmark for its supply chain for 3D printing, and second place went to the team from Tel Aviv University, with a solution for registering usually unregistered assets.

Among the startups, second place went to Cryptonomica, which is developing a legal framework for smart contracts on a blockchain. First place went to Bancor, which recently also won first place at a startup competition held by CoinAgenda.

The Bancor Protocol is a Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term-based token conversion protocol, which enables a single party to convert any token to another without requiring a second party to exchange with. Its native token (BANCOR) will be the first currency issued using its protocol, and will be introduced through a crowdsale launching May 30, 2017.