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2020-09-08

Coinsilium Group Limited: Indorse Post Covid Hackathon Progress Update

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Indorse Post Covid Hackathon Progress Update

08-Sep-2020 / 07:00 GMT/BST
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COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

Coinsilium - Indorse Post Covid Hackathon Progress Update

 

London, UK, 8 September 2020 - Coinsilium Group Limited (AQSE:COIN) the Blockchain, DeFi and Crypto Finance venture operator, is pleased to provide a progress update on The Post Covid Hack, an online, global blockchain hackathon initiative organised in partnership with investment portfolio company, Indorse Pte. Ltd. ("Indorse").

 

An online hackathon is a design sprint-like event, spread over several weeks, in which computer programmers and developers collaborate intensively on software projects with the goal of creating functioning software solutions by the end of the event. The objective of the Post Covid Hack is to mobilise and incentivise blockchain developers to build blockchain solutions to address social and economic issues emanating from the Covid19 pandemic.

 

Further to the Company's 11 June announcement, the Post Covid Hack successfully launched in August with the opening of registrations and a series pre-hackathon educational webinars. The event will now run through to November when judges and track partners will evaluate projects submissions ahead of the final 'Demo Day' and award ceremony. 

 

The hackathon has enlisted the support of over 60 partners including IOV Labs, Gibraltar Finance, Mishcon de Reya LLP and KuChain; details of all supporting partners can be seen here. To date over 750 developers from around the world have registered for the online event in which they will compete for prizes worth up to USD30,000. Over 400 participants have also registered on the hackathon's Slack channel with 13 business and technical workshops scheduled, including tracks with particular Decentralised Finance ('DeFi') applications and challenges focusing on impact investment, community currencies and wallets. Coinsilium Chief Executive, Eddy Travia, will also join the panel of Judges and mentors.

 

Coinsilium Chief Executive, Eddy Travia commented: "Both the Coinsilium and Indorse teams have been overwhelmed by the global response received for the Post Covid Hack and the quality of partners that this worthy initiative has been able to attract. We are most grateful to all sponsors and supporters with special thanks to IOV Labs who have prepared an inspiring list of challenges in the socioeconomic track and to Gibraltar Finance for their active support and trust from day one of the hackathon's inception.

 

From a commercial perspective, it is also most pleasing to see Indorse's technical capabilities at work; having effectively positioned their proprietary blockchain powered technology platform to create a world-class enabling solution for this high profile global online event.

 

The Post Covid Hack now serves as a robust commercial proof of concept and the perfect showcase for Indorse's innovative Technology Industry solutions. Indorse's community of developers and validators will also play a vital role in the hackathon process which provides us with a high level of confidence in the potential for similar future partnership opportunities between Indorse and Coinsilium.

 

"We would like to congratulate the whole Indorse team on the successful launch of the Post Covid Hack and acknowledge their professionalism, know-how and ability to execute on such a highly ambitious initiative.

 

"We look forward to reviewing the open, permissionless solutions built by developers in the next couple of months which aim to accelerate the post-Covid social and economic recovery process."

 

Disclosure Note:

 

Coinsilium holds a 10% interest in the issued share capital of Indorse Pte. Ltd. as part of the Company's investment portfolio. Coinsilium also holds 5,793,875 IND tokens representing approximately 15.37% of the current circulating supply. This holding is formed of a combination of tokens granted as founder investors as well as subsequent market purchases made by the Company.

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

For further information, please contact:

 

Coinsilium Group Limited

Malcolm Palle, Executive Chairman

Eddy Travia, Chief Executive

+44 (0) 7785 381 089

www.coinsilium.com

 

 

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