Binance to Hold Singapore Hackathon to Create Safer Crypto Ecosystem

Digital currency exchange Binance is encouraging blockchain developers across the globe to step up the development of blockchain solutions to solve security issues during next month’s hackathon.

Global cryptocurrency exchange operator Binance is holding its first Binance SAFU Hackathon in Singapore on January 19-20, 2019. The event aims to create a safer digital currency ecosystem by empowering blockchain engineers to rapidly improve existing distributed ledger technology solutions.

In an email sent to Cryptovest, the company said this 32-hour round-the-clock event would encourage blockchain developers across the world to accelerate the development of prototype blockchain solutions and provide solutions to problems currently weighing on systems.

The statement said:

“With the theme ‘Query Platform for Address Security: Is the transaction address you are sending your crypto to SAFU?’, the Binance SAFU Hackathon encourages long-term, sustainable growth of the blockchain industry, calling for top developers from around the world to build a safer community where users are protected from scams, hackers, and money laundering.”

The company said it had partnered with several groups to ensure the Binance SAFU Hackathon would attract some of the world’s top talent, with the winning team set to earn $100,000 in prizes.

Several pre-hackathons have already been held, and others will take place from December to January in San Franciso, Hong Kong, Seoul, and Singapore. The initial pre-hackathon concluded last December in San Francisco, California.

Developers who missed the San Francisco event can still qualify for the final Binance SAFU Hackathon in Singapore by joining one of the three remaining pre-hackathons. Interested parties are advised to follow Binance Blockchain Week on Twitter for more information on registration.

A panel of judges will select the winners of the hackathon based on innovation, quality, technology pitch, and demo. In addition to the cash prizes, the victorious parties will have a chance to meet senior executives from Binance and possible financing from the incubation program of Binance’s investment arm, Binance Labs.

The winners will also get access to Singapore’s government-backed  Tribe Accelerator.

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