Join the G20 TechSprint 2022
G20 TechSprint 2022
The Finals Event and Winners Announcement takes on 12 October 2022, 18;30hrs - 21;00hrs Jakarta Time (UTC+7). Tune in to https://bit.ly/AwardsTechSprint-Attende to watch the proceedings.
Following requests from many interested teams, organisers have decided to extend the competition registration deadline to cob 27 May 2022 (Jakarta time, GMT+7).
This would be the one and only deadline extension. All interested teams need to fully complete their registration and proposal submission by this final deadline.
Teams are highly encouraged to submit their registrations and proposals well ahead of this final deadline.
Winners :
1. DragonFly Fintech Pte Ltd.
2. Bitt-IDEMIA
3. Partior
Following requests from many interested teams, organisers have decided to extend the competition registration deadline to cob 27 May 2022 (Jakarta time, GMT+7).
This would be the one and only deadline extension. All interested teams need to fully complete their registration and proposal submission by this final deadline.
Teams are highly encouraged to submit their registrations and proposals well ahead of this final deadline.
Winners :
1. DragonFly Fintech Pte Ltd.
2. Bitt-IDEMIA
3. Partior
DAY
00
HR
00
MIN
00
SEC
00
#g20 #g20techsprint #g20indonesia #bi #cbdc #hackathon #techsprint
Organized By
About Us
Under Indonesia’s G20 Presidency, the community is soliciting innovative global technological solutions to catalyse developments in wholesale and retail Central Bank Digital Currencies (CBDCs).
This will challenge the international community of innovators, entrepreneurs, start-uppers, changemakers, creators, developers, data scientists, designers, digital marketing and communication experts who are passionate about creating extraordinary impact by solving one of three operational problems in the field of CBDCs.
Problem Statements
Three problem statement categories, representing different functional objectives of CBDCs have been proposed for this year's G20 TechSprint.
Within each of the categories, a Main Problem Statement has been identified together with two Optional (bonus) Problem Statements. These were developed in consultation with the G20 and represent common high priority gaps and opportunities where innovative technology solutions in the CBDC space and sought.
Teams will need to register for one of the categories (either A, B or C) and submit proposals that addresses the Main Problem Statement. In addition, teams may also submit proposals to address the additional functionalities listed in either or both of the Optional Problem Statements.
Teams that successfully address the Optional Problem Statements will be awarded with bonus scores. However teams that do not address the Main Problem Statement and only the Optional Problem Statements will be disqualified.
[Category A] IMPLEMENTING EFFECTIVE AND ROBUST ISSUANCE, DISTRIBUTION AND TRANSFERENCE
Interested Teams need to propose solutions on how to implement optimal CBDC (W CBDC and/or R CBDC) design and technology, from issuance, to distribution and to end users
In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.
Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.
------------------------------------------------------------------------------------------------
Main Problem Statement: How might we implement the optimal CBDC (W CBDC and/or R CBDC) design and technology, from issuance (including conversion from reserve or money creation through monetary operation), to distribution and to end users?
Optional Problem Statement 1: How might we leverage CBDC programmability feature for efficient facilitation of cash and securities transfers, and for delivering new innovative services to customers?
Optional Problem Statement 2: How might we conduct audit, oversight & supervision and harness the power of granular transaction data from CBDC efficiently while protecting consumers’ sensitive data and privacy?
[Category B] ENABLING FINANCIAL INCLUSION
Interested Teams need to propose solutions that addresses how we enable inclusive, easy, convenient and affordable front-end CBDC access solutions for everyone, while maintaining regulatory compliance.
In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.
Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.
-----------------------------------------------------------------------------------------------------
Main Problem Statement: How might we enable inclusive, easy, convenient and affordable front end CBDC access solutions for everyone, including underbanked, unbanked and/or people with disabilities, while maintaining regulatory compliance?
Optional Problem Statement 1: How might we enable CBDC usage in areas with intermittent or unaffordable internet connectivity, while ensuring secure transactions as well as preventing double spending and illicit transactions?
Optional Problem Statement 2: How might we provide on boarding solutions which is seamless & integrated (to other digital identity and/or KYC systems) and enhancing AML/CFT while protecting privacy?
[Category C] ENABLING CONNECTIVITY AND INTEROPERABILTY
Interested Teams need to propose solutions that addresses how CBDC platforms can enable payments in an efficient, scalable manner that complies with regulation.
In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.
Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.
-----------------------------------------------------------------------------------------------------
Main Problem Statement: How might we link up CBDC platforms to enable cross border payments (PvP and DvP) in a manner that is efficient, scalable & comply with the regulation.
Optional Problem Statement 1: How might we enable connectivity and interoperability with other CBDCs, with existing domestic payment rails (including national payments rails & privately operated e-money rails), and with other FMIs to enhance adoption and usage?
Optional Problem Statement 2: How might we enable connectivity between CBDC and other DLT platforms to settle transactions in cash and/or securities (including DvP) in a manner that is secure, fast, and easy to implement?
Prize
Cash awards to winning teams and cash stipends to all shortlisted teams
Attractive cash awards would be given to the winner in each of the problem statement categories. Cash stipends will also be given to each shortlisted teams to defray any development expenses. Cash contributions are from Bank Indonesia.
Attractive Cash Prizes
Attractive Cash Awards @IDR 770,000,000 (+/- USD 53,000) , before tax and any additional charges, would be given to the winner In each of the Problem Statement Categories. These cash awards are contributed by Bank Indonesia.
Cash stipends given to each shortlisted team
Cash Stipends will also be given to each of the shortlisted teams @IDR 145,000,000 (+/- USD 10,000), before tax and any additional charges, to defray any development expenses. These cash stipends are contributed Bank Indonesia.
Engagements with Experts in CBDCs
Shortlisted Teams will also have the opportunity to have in-depth discussions and feedback from high profile experts in the CBDC Field
Eligibility
The competition is targeted at Firms or Teams from all countries and jurisdictions interested in solving CBDC challenges posed in the problem statements and have a good track record of developing scalable technology solutions.
FAQ
How do I register and submit my team's solution proposal (s)
Interested teams should click on the registration tab and complete fully the registration questionnaire before the registration deadline. Teams should also fill in fully the details of their proposed solution (s) in the relevant sections of the questionnaire.