Monday, January 17

These are the winners of the Bitcoin Bankathon of El Salvador

The El Salvador Mortgage Bank hackathon closed this past December 8, 2021, recognizing 8 winners in 5 different categories, who developed banking products based on Bitcoin.

In the category of Best Product, the projects BitFunding Y Growr On-Chain were the outstanding winners, focused on promoting access to financial services for women, merchants and entrepreneurs.

The Bitcoin Bankathon It was held since November 19, as reported by CriptoNoticias, calling on developers from all over the world to create banking products based on Bitcoin, within the framework of the approval of this cryptocurrency as legal tender in El Salvador.

The final of the hackathon was held between December 6 and 8 at the Hacienda de Los Miranda, in El Salvador, where the assistant developers finalized the details of their products and presented them in the different established categories.

According to a press release received by CriptoNoticias, in this activity 50 of the more than 325 participants of the Bitcoin Hackathon were present, who worked from all over the world.

The other award-winning categories in the event were the one with the best use of data off-chain, where the Cardinal and Blockchain Carbon Registry projects stood out. Regarding the use of advanced technology, PISTO.NET turned out to be the winner; and in the category of the most visionary concept, the Tlanetia and Chimera projects.

Nelson Chicas, a member of the Cardinal team, told CriptoNoticias that the hackathon helped his project a lot. Cardinal seeks to automate financial processes through smart contracts to avoid merchants having to have money from their personal expenses for the activities of their companies, generating difficulties in accounting.

He also highlighted the opportunities that this type of event represents for Salvadorans:

It is clear to me with this event, and others in which I have been, that there is a large amount of investment coming to the country and I believe that this type of event is a great window for Salvadorans, and it really drives us to know the technology to create us the products. I think that as Salvadorans we should take advantage of the efforts, especially because in the country Bitcoin is a hot topic for some reason, but leaving that aside, I think you have to be pragmatic and take advantage of the opportunities.

Nelson Chicas, a member of the Cardinal project.

Notably, it also delivered an award of USD 10,000 for the best promoter of the event on social networks, which was left in the hands of the Colombian entrepreneur Jairo VĂ©lez.

There will still be an undetermined period of time to evaluate the viability and final development of these products, but it is expected that the Mortgage Bank will consider them for future launches, in a process of adapting its services to Bitcoin technology.