Creating blockchain solutions
THE best way to learn something is to learn it hands-on. That is how 80 students from 14 public and private universities and colleges learnt about blockchain and the adoption of the technology in the country at a Merdeka Hackathon in Kuala Lumpur recently.
Themed “Blockchain The Future”, the inaugural two-day event saw students matching realworld business problems with potential solutions powered by blockchain technology.
The event was organised by NEM Malaysia —NEM Foundation’s local office, a Singaporebased non-profit organisation with its own blockchain technology - with companies and sponsors, such as UEM Sunrise Bhd, IRIS Corporation Bhd, AIA Bhd, Morpheus Labs, Parlo Tours and BESC, participating.
The companies presented their blockchain usage cases and business challenges, while students and lecturers of participating educational institutions worked hand-in-hand to solve the challenges.
NEM Foundation Southeast Asia project director Lance Cheang said: “Blockchain technology and its innovations are revolutionising how data and information is being managed across many industries, including education, financial services, insurance, retail, telecommunications and logistics.
“The Merdeka Hackathon is one of our key initiatives to educate students and educators on the practical applications of blockchain technology. Our aim is to support them in their efforts to incorporate it as part of their curriculum and research programmes, as well as to prepare them for a blockchain-enabled world.”
A blockchain is a cost-effective way to store a growing list of transaction records that cannot be altered, encrypted and stored across participating PCs, servers, notebooks or any device connected to the Internet.
The winner of the RM5,000 first prize was Team BC-LUL from University of Southampton Malaysia. Their blockchain solution was a system that allows anyone to invest in the property market through a blockchain token or digital asset.
The solution was to make property investments as easy as online shopping, and solve the problem of unoccupied and unsold properties in Malaysia. This business challenge was posed by UEM Sunrise Bhd, a property developer.
Team BC-LUL leader Chia Tze Hank said the group gained a good amount of experience during the hackathon, especially on technical aspects.
“We had a technical problem while working on our hackathon solution, but with the coaching of NEM technical trainers, we moved forward.
“While the Nanyang Technological University Singapore hackathon, in which we previously took part, gave us a free hand in what we developed, the NEM Merdeka Hackathon gave us realworld business problems.
“They were a glimpse into what it is like in an actual business and working situation.”
The second prize of RM3,000 went to Team Quadraplet from Taylor’s University, while the third prize of RM2,000 went to Team HOTBLOCKS from KDU University College.
The RM1,000 prize for the Most Impactful Solution went to Team SquareChain from KDU University College. Team Dollarchain from Universiti Malaya received RM1,000 for the Most Innovative Solution, and Team Error101 from the same institution received RM1,000 for the Most Promising Solution.