Harmony Hosts $1M Hackathon Planning to Bridge the Gap Between Traditional Finance & DeFi

By Emily Rys | July 18, 2021
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The Harmony blockchain has reportedly made the registration process for a hackathon available beginning August, which comes with over $1 million in seed funding and prizes for anyone joining. 

Specifically revealed by Harmony via Twitter, the hackathon would reportedly be revolving primarily around attracting an increased number of individuals from traditional finance, regarding the challenges of bridging the gap between their sectors and DeFi – an emerging field of the crypto sector. 

The protocol reportedly revealed that a total of four challenges will be available in every category of social wallets and keyless security, cross-chain and trustless bridges, and cross-border with fintech integration.

“In blockchain, finance is where we are seeing product market fit. But most of DeFi was created by people who didn’t come from traditional finance. We want to bring more TradFi in to contribute to DeFi. We know they have much to teach us and we can help them understand and harness the power of DeFi and teach them a lot as well.” Harmony further remarked. 

SushiSwap core developer Omakase was reportedly included in the panel list of speakers or judges for the competition, together with different other names, nominally Earn.com co-founder Lily Liu, DeFi Alliance lead Imran Khan, and more.

CoinGecko, Messari, Unstoppable Domains, DappRadar, SushiSwap, DoraHacks, news platform The Defiant, and Hummingbot are reportedly the entities across the crypto sphere to offer sponsors for the event. 

Harmony – operating as a sharding protocol with a trustless Ethereum bridge, breaking its chain into segments handling transactions and offering safekeeping for information in parallel – has its mainnet become officially available two years ago.

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