Ever heard of a hackathon that engages with blockchain based technologies to overcome global wealth inequality? Well, you will now because GoodDollar just successfully carried out “the first hackathon for reducing global wealth inequality using decentralized technology.”
What’s even more exciting is that the competition winner was a project that incentivized GoodDollar tokens as a reward in exchange for citizens volunteering to get themselves checked for diabetes.
According to it’s official website, Good Dollar is “a 100% not-for-profit project, is nurturing an ecosystem – including academics, NGOs, ethical investors, crypto supporters, and anyone who cares about reducing inequality.”
The event was held in Tel Aviv on the 14th and 15 of March and gave participants these topics to work on systems and projects that made use of decentralized technology to help bridge the global wealth inequality; “Digital identity related solution, Social impact, Social Identity for UBI, Social Interest (Economy), Direct Giving, Decentralised Governance.”
The hackathon hosted three judges including, Lior Yaffe, Jesse Medina and Yaron Shmaria. The first prize was $2500, the second prize $1500 and the third was $750. However the amount of prize money came second to the great social and economic impact that the winner of the competition aimed to make in societies around the world.
The event featured nine unique teams consisting of blockchain enthusiasts, designers, developers and programmers who each had a total of 16 hours to finish off their initiatives.
The Israeli ambassador to Rwanda and former deputy representative of Israel in the United Nations, Ron Adam, was also in attendance at the event. Although he did not stay for long, he was impressed by the ream’s dedication and hard work.
He wrote on Twitter,
“Excited to be present at the first @TheGoodDollar hackathon in TLV where young Israelis compete on the most #Innovative solution to narrow the gap between poor and rich of the world using #blockchain and creating #Socialimpact to achieve the #SDGs. Ready for #Rwanda!”
Excited to be present at the first @TheGoodDollar hackathon in TLV where young Israelis compete on the most #Innovative solution to narrow the gap between poor and rich of the world using #blockchain and creating #Socialimpact to achieve the #SDGs. Ready for #Rwanda ! pic.twitter.com/V8TXbPTXjQ
— Ron Adam (@AmbRonAdam) March 15, 2019
Here are some of the highlights from the event which is arguably the first of it’s kind;
We were very happy to meet you Ron, and hope your enthusiasm and interest in this forming ecosystem could help spur things into action! pic.twitter.com/Oe2USc8Szu
— GoodDollar (@TheGoodDollar) March 17, 2019
While it’s undoubtedly wonderful to see such an initiative that wants to tackle and find solutions to fight inequality, let’s just say as a global community, we have a lot of battles to fight just yet and some battles we don’t get to pick and choose. Are initiatives like these truly enough to battle systematic and widespread exploitation and economic inequality? We sure hope so!
Here’s hoping for a more equal and peaceful world!