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EMTECH Hackathon Vinil September 26, 2023
eCedi token_dark_transparent bg
Central Bank: Bank of Ghana   |   Theme: Unlock the Future of Digital Finance with a Digital Cedi
INTRODUCING THE ECEDI HACKATHON

Unlock the Future of Digital Finance with a Digital Cedi

Bank of Ghana is exploring innovative technologies to modernise Ghana’s payment infrastructure in ways that lowers cost, increases interoperability, unlocks economic growth and further decentralises access to sound financial products for consumers and businesses. Central Bank Digital Currency holds validated potential in all of the stated areas. The Bank of Ghana is dedicated to continue its journey to innovation, and in partnership with EMTECH, is looking to collaborate with the best talents in Ghana to help address technical challenges to achieving those goals.
The eCedi Hackathon will be sponsored by EMTECH in order to create a dynamic environment that enables technical teams to conceptualise and then prototype solutions to specific challenges.
 
See Rules
ONGOING HACKATHON Live
Host: Bank of Ghana
Title: Unlock the Future of Digital Finance with a Digital Cedi
online icon   Online and In-Person
online icon   Cash Prizes
public icon   Web3/Blockchain
public icon   Rules apply
View entire schedule
calendar icon   Oct 3 – Dec 15
 
Key Benefits of the eCedi Hackathon
  • Use your talent and expertise to contribute to the future of finance in Ghana
  • Access with a Web3-based eCedi to imagine new possibilities
  • Foster collaboration between the BoG and various stakeholders in defining the future of the eCedi
  • Solve challenges that adresses the needs of the Ghanaian market

Our Partners

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Frequently Asked Questions

What is a Central Bank Digital Currency (CBDC)?

CBDC is considered to be both an evolving new form of central bank money (i.e. cash and central bank’s reserves), and an innovative payment instrument with its own infrastructure. CBDCs can be classified into retail (rCBDC) and wholesale (wCBDC).  

Retail CBDC is a broadly available digital version of cash as payment instrument, denominated in the jurisdiction’s unit of account that is a direct liability of the jurisdiction’s monetary authority, just as cash is today. 

In brief, retail CBDC is digital cash that is designed to take on most traditional attributes of physical cash (in practice, though, it may have other additional functionalities depending on its final design). Retail CBDC could be used by individuals for P2P transfers, and P2B, B2P, B2B, P2G, and G2P payments besides cash and existing payment media and instruments (e-money, payment cards, etc.)

Why is BOG exploring a Retail CBDC (a digital version of the Cedi)?

BoG has developed a view of the eCedi to meet the following strategic goals:

    •  Increase digitization of the Ghanaian
      economy;
    • Foster financial inclusion and consumer
      adoption of digital payments;
    • Anticipate the future role of BoG as an active
      regulator and facilitator of a digital economy;
    • Foster the possibility of a more secure,
      efficient, and resilient payment system;
    • Address the risk of unregulated privately
      issued digital “currencies” or virtual assets

Further, modernization of the payment infrastructure can lower costs for the Bank of Ghana, while safely unlocking the benefits of the fintech era. 

Is there a fee to participate in the hackathon?

No, there is no fee to BoG or to EMTECH for participating in the hackathon.

What happens after the hackathon?

For winners, the BoG will look to continue a collaboration and engagement for the potential roll out of the eCedi. For all other participants, they will be sponsored full access to the EMTECH’s Beyond Cash infrastructure and development tools for 12 months, as well as workshops and technical support.

HACKATHON STRUCTURE

Phases of the Bank of Ghana CBDC Hackathon

There are three (3) phases of the hackathon:
Phase 1 – Oct 3 to Oct 27
  • Launch and Concept Submissions
  • Concept Pitch Day
Phase 2 – Oct 27 to Nov 30
  • Selection of Hackathon Participants
  • Prototyping
Phase 3 – Dec 8 to Dec 15
  • Judging and Finals
  • Demo Day
  • Awards Ceremony
IMPORTANT DATES
PRIZES
  • Launch – October 3
  • Submission Period – October 6 to 20
  • First Selection Deadline – October 27
  • Pitch Day – November 3
  • Second Selection Deadline – November 8
  • Prototyping Period – November 8 to 30
  • Demo Day – December 8
  • Judging and Finals – December 13
  • Awards and Recognition – December 15

Exciting prizes and recognition await the most innovative and impactful projects!

The EMTECH / Bank of Ghana eCedi Hackathon offers participants a chance to cash prizes, gain recognition, network with industry experts, and take home the award!

JOIN US IN SHAPING THE FUTURE OF DIGITAL FINANCE IN GHANA

Your opportunity to make a mark in the world of fintech and digital currency. Join us on this remarkable journey as we explore, innovate, and revolutionize the future of finance together.

Stay tuned for more updates, registration details, and exciting announcements. 

  • Follow us on Twitter and LinkedIn to stay informed.
  • Check the “Updates” section of this page where we will post the latest

Don’t miss out on this historic opportunity to be a part of the digital currency revolution!

JUDGES
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Kwame Oppong

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Archie

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Pete Mensah

Entire Process for the Bank of Ghana eCedi Hackathon

THE HACKATHON PROCESS

This is our first hackathon, so we’re keeping it simple. Here are the steps:

  • Announcement
  • Official launch
  • Concept submission
  • Pitch day – present your concept
  • BoG announces 10 concepts to move to prototyping
  • Prototyping
  • Demo Day
  • Winners and prizes
HOW TO PARTICIPATE

Step 1: Visit the eCedi Hackathon webpage

Step 2: Pick one of the challenges (see next section below)

Step 3: Submit a 3-page concept (Context, Problem, Hypothesis, Solution concept)

BoG will select up to 25 concepts to move forward to Pitch Day. You will be notified whether you are invited to pitch your concept.

Step 4: Crush your presentation at Pitch Day!

BoG will select 10 pitches to move to prototyping. They will be invited to onboard the Hackathon Platform to access the eCedi infrastructure and development tools. This platform is EMTECH’s Beyond Cash Platform, deployed specifically for the purpose of this hackathon. The token is not the officially adopted eCedi, and will be named “BYDC-eCedi”.

Step 5: Onboard eCedi Hackathon Platform

Step 6: Review documents and resources, and integrate APIs

Step 7: Get an Institutional Wallet and up to (one thousand) 1,000 BYDC: eCedi

Step 8: Develop your Prototype for Demo Days

Step 9: Attend Office Hours / Workshops

Step 10: Demo your prototype at Demo Days

Step 11: Attend Award Ceremony

CHALLENGES

For the Hackathon, we’re looking for solutions leveraging the EMTECH eCedi token and APIs to prototype solutions or develop tools that address a technical problem. The use cases we’re looking for are:

  • Use of eCedi in Merchants transactions (C2B)
  • Use of eCedi for government payments (G2P)
  • Use of eCedi in Agriculture and Trade (C2B, B2B)
  • Data Privacy while holding or transacting with eCedi
  • Use eCedi for inbound remittance
  • Combatting the use of eCedi for illicit transactions
  • Make the eCedi Interoperable
  • KYC models solutions for eCedi
 
 
ABOUT EMTECH’S BEYOND CASH
The technical stack leverages Hedera Hashgraph as a Layer 1 protocol and its associated Token and Consensus Services. The turnkey solution delivers a simple wallet framework and suite of pre-built APIs all integrated via EMTECH’s Beyond Cash Platform.
For this Hackathon, we’re deploying the BYDC-eCedi, (Beyond Cash – eCedi) which will be the minted and distributed as a digital token via fintech applications
 
 

HACKATHON ELIGIBILITY CRITERIA

Welcome to the Central Bank Digital Currency (CBDC) Hackathon, hosted by the Bank of Ghana! This Hackathon is designed to bring together the brightest minds in Ghana’s tech and finance sectors, individuals, and teams to explore innovative groundbreaking solutions using CBDC technology.

To ensure a fair and focused competition it’s important to understand the criteria that will guide your participation in this hackathon. Below are some established eligibility criteria and submission requirements that reflect the high standards of innovation and professionalism we expect from our participants. These criteria are in place to maintain the integrity of the hackathon and ensure that all participants have an equal opportunity to succeed.

Participants should be aware of the evaluation criteria, which may include innovation, technical excellence, feasibility, and potential impact on the CBDC ecosystem.

Please take a moment to familiarize yourself with the eligibility criteria and submission requirements, which will guide your participation in this exciting event!

No.
Criteria
Description
1.
Participation
The hackathon is open to both companies, individuals, and teams. Employees of Bank of Ghana and institutions of participating Judges are not eligible to participate in the eCedi Hackathon
2.
Residency
Participants must be residents, citizens or have presence in Ghana
3.
Technical Background
Participants must have a strong technical background and skills in areas such as software development, blockchain technology, cryptography, and financial technology (FinTech).
4.
Educational Background
Participants should have a minimum of tertiary education, relevant technical certification, or relevant experience.
5.
Application
All participants must apply through the official Bank of Ghana eCedi Hackathon portal. Applications must include personal and team details, contact information, a brief description of the concept (Concept Note), relevant skills and experience.
6.
Code of Conduct
Participants are expected to adhere to a code of conduct that promotes professionalism, respect, and ethical behavior throughout the hackathon.
7.
Intellectual Property
All code, designs, and intellectual property developed by the participants during the hackathon will be owned by the participants and any IP proprietary to the Bank of Ghana remains the property of the Bank of Ghana. Participants must agree to this condition upon application.
8.
Non-Disclosure Agreement
Participants shall be required to sign a non-disclosure agreement (NDA) to protect sensitive information related to the eCedi Hackathon Project.

SUBMISSION GUIDELINES

Welcome to the Central Bank Digital Currency (CBDC) Hackathon, hosted by the Bank of Ghana! This Hackathon is designed to bring together the brightest minds in Ghana’s tech and finance sectors, individuals, and teams to explore innovative groundbreaking solutions using CBDC technology.

To ensure a fair and focused competition it’s important to understand the criteria that will guide your participation in this hackathon. Below are some established eligibility criteria and submission requirements that reflect the high standards of innovation and professionalism we expect from our participants. These criteria are in place to maintain the integrity of the hackathon and ensure that all participants have an equal opportunity to succeed.

Participants should be aware of the evaluation criteria, which may include innovation, technical excellence, feasibility, and potential impact on the CBDC ecosystem.

Please take a moment to familiarize yourself with the eligibility criteria and submission requirements, which will guide your participation in this exciting event!

See the detailed guidelines here.

Here are some useful links in connection with the Bank of Ghana eCedi Hackathon:

 

UPDATES

This section will contain updates regarding the Bank of Ghana eCedi Hackathon. For more information on the updates, please visit the Bank of Ghana eCedi Hackathon updates page.

FINAL CALL FOR SUBMISSION

There are only 3 days left to complete your submission for CBDC – The Future of Ghana’s Financial System. Submissions close on December 24th at 11:45pm WAT (Find out what time that is in your city).

If you haven’t started a submission yet, please do so now. (We’ll walk you through our submission form process if you need help.) And make sure all of your teammates are invited and have accepted their invitations to join your submission!

Submission checklist

Run through this list before you sit back from your project:

  1. Are you creating a decentralised application, protocol, or developer tool that uses the EMTECH platform or encourages the use of the EMTECH platform?
  2. Have you created a submission video? Remember to show your app working in 5-minutes or less. Be sure to check out this webinar for tips on how to create an effective pitch.
  3. Did you include a link to your codebase within your submission form? We do encourage you to have a public repository (to make it easier for judging) but if you have a private repo, share it with the GitHub account, info@emtech.com.
  4. Are all of your teammates added to your submission? Remind them to accept the invitation!

Be sure to read through the Hackathon Rules more than once. Or better yet, have a friend or colleague provide a second pair of eyes to make sure you didn’t miss anything.

Submission checklist
What’s next after the submissions are in?
  • Judging – May 18th – May 24th: During this time if judges have any questions about your project we will reach out to your team.
  • Closing Ceremony – May 31st @ 7:30am PT: This is where we will announce all the winners!
  • Apply for Funding and Grants – We encourage every project to continue building even after the hackathon is over. For those of you who do decide to do this, you can apply for funding and grants through the HBAR Foundation here.
  • Investor Pitch Session – June 1st @ 8:00am ET: At the close of the hackathon The HBAR Foundation will be reviewing all projects and inviting select ones to participate in an investor pitch session that will be open for the public to watch. RSVP and full details here.

Good luck to everyone and please reach out via discord or at info@emtech.com if you need any help from now until submissions close.

ONE WEEK LEFT

There are only 3 days left to complete your submission for CBDC – The Future of Ghana’s Financial System. Submissions close on December 24th at 11:45pm WAT (Find out what time that is in your city).

If you haven’t started a submission yet, please do so now. (We’ll walk you through our submission form process if you need help.) And make sure all of your teammates are invited and have accepted their invitations to join your submission!

Submission checklist

Run through this list before you sit back from your project:

  1. Are you creating a decentralised application, protocol, or developer tool that uses the EMTECH platform or encourages the use of the EMTECH platform?
  2. Have you created a submission video? Remember to show your app working in 5-minutes or less. Be sure to check out this webinar for tips on how to create an effective pitch.
  3. Did you include a link to your codebase within your submission form? We do encourage you to have a public repository (to make it easier for judging) but if you have a private repo, share it with the GitHub account, info@emtech.com.
  4. Are all of your teammates added to your submission? Remind them to accept the invitation!

Be sure to read through the Hackathon Rules more than once. Or better yet, have a friend or colleague provide a second pair of eyes to make sure you didn’t miss anything.

Submission checklist
What’s next after the submissions are in?
  • Judging – May 18th – May 24th: During this time if judges have any questions about your project we will reach out to your team.
  • Closing Ceremony – May 31st @ 7:30am PT: This is where we will announce all the winners!
  • Apply for Funding and Grants – We encourage every project to continue building even after the hackathon is over. For those of you who do decide to do this, you can apply for funding and grants through the HBAR Foundation here.
  • Investor Pitch Session – June 1st @ 8:00am ET: At the close of the hackathon The HBAR Foundation will be reviewing all projects and inviting select ones to participate in an investor pitch session that will be open for the public to watch. RSVP and full details here.

Good luck to everyone and please reach out via discord or at info@emtech.com if you need any help from now until submissions close.