Here’s How AUB’s Hackathon Involved Lebanese Youth In Tackling Hyperinflation

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It is no secret that Lebanese citizens are facing unprecedented challenges: economic, health, and humanitarian crises. However, what keeps us going is the hope we share and the youth that are the backbone of Lebanon’s future.

“I <code> for Lebanon” is an initiative launched by the Darwazah Center for Innovation Management & Entrepreneurship of the Olayan School of Business (OSB) at the American University of Beirut (AUB).

Its main goal is to showcase the importance of involving the youth in finding concrete solutions that help with the ongoing hyperinflation through blockchain and cryptocurrency.

The Hackathon was held on May 27, 28, and 29, 2022. Prior to this, the participants had the opportunity to attend preparatory lectures that focus on the potential of blockchain in helping with hyperinflation.

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Following the workshops, the 6 teams were trained by experts to learn how to easily translate their ideas into a real solution.

During the opening ceremony, 2 panels that feature cryptocurrency experts tackled the relevant Lebanese local problems as well as how the global patterns can affect Lebanon.

The participants had 48 hours to prepare before demo day. On the day of the contest, the jury was made up of internationally renowned crypto and blockchain experts, researchers, and developers.

Finally, the hackathon was clotures by awarding 4 winning teams that received cash prizes from the event’s sponsors:

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  • 1st Prize: CrypLock – The winning team came up with the idea of a digital escrow that “brings trustless operations to over-the-counter crypto transactions.”
  • 2nd Prize: Cash2Coin – The team proposed stablecoins to facilitate crypto transactions.
  • 3rd Prize: Walleti-Increase Mass – It tackles “market adoption of crypto by offering pre-paid crypto scratch cards and an app.”
  • 4th Prize: D-Bank – The startup focused on “enhancing SME reputation building via blockchain-based networks”

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Here's How AUB's Hackathon Involved Lebanese Youth In Tackling Hyperinflation

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