Results from the Digital Asset and SE2 Smart Contract Hackathon
On behalf of Digital Asset and SE2, we are excited to announce the winners of our first, global Smart Contract Hackathon!
Over 400 developers participated in envisioning, designing and developing distributed solutions with Digital Asset's multi-party application development platform and smart contract language - Daml. These participants joined numerous Daml training sessions throughout the six-week hackathon, and learned new ways to leverage smart contract technology across DLT and traditional databases.
SE2 and Digital Asset received an impressive number of submissions from developers around the world. These solutions spanned several industries, including finance, real estate, carbon exchange, supply chain, healthcare, agriculture, and hospitality. The winners were awarded based on their submissions’ business value, creativity, and overall implementation of the Daml language. The panel of judges were blown away that developers, most of whom had never used Daml before or written a smart contract, could deliver this level of solution in such a short period of time.
Without further ado, here are the winning solutions:
Grand Prize: Roomor
With real estate continuing to skyrocket in value, those who aspire to own property see that dream becoming more distant and difficult to achieve. The team at Roomor tackled two problems at once by making it possible for individuals to own a fraction of a property, as well as place rooms for rent in the real estate market. Since fractional owners have the right to sell their share of the property (e.g. a room in a four-room house), it is vital to keep a clean record of ownership and value appreciation.
The Roomor team leveraged Daml to clearly define property ownership, as Daml has rights, obligations, and fine-grained authorization built into the language itself, enabling applications like Roomor to develop a single source of truth for real estate use cases. Roomor exceeded the submission criteria and delivered a one-of-a-kind, Daml-driven solution. Congratulations to Albert and team!
First Runner-Up: Smart FARBAR
Real estate transactions are laden with paperwork. Additionally, little to no transparency exists throughout the buyer/seller process, as each party is interested in optimizing their own terms and outcomes in an already complicated equation. For example, a seller has no visibility into other offers received by the agent that represents them. A seller may be motivated by a swift sale at the expense of an inspection requirement, rather than a sale to the highest bidder who demands an inspection. John and team addressed these issues with a clever application of Daml and presented a viable solution for all parties involved in a transaction.
Second Runner-Up: Digitizing Supply Chain
The systems underpinning supply chains require an immense amount of reconciliation, as data across manufacturing, production, and shipping tend to live in disparate systems. These complex, siloed IT systems often lead to traceability problems, where authenticity of goods as well as quality control become impossible to track. Basic consumer products will transact across several different systems, from manufacturer to distributor and retailers. Any breakdown, inefficiency, or inaccuracy along these nodes can compromise the entire process. Ashwini and team applied blockchain technology through a Daml-based platform that facilitates data management, integrity, and transparency, while bridging data silos. The end result is cleaner data and more efficient processes that ultimately save supply chain stakeholders time and money.
Best Business Value: Carbon Exchange
Reducing carbon emissions is a challenge that requires global collaboration and investment. Krathikeyan’s submission addressed these challenges and provided an innovative solution for offsetting carbon emissions. This Daml-driven project is based on the concept that individuals must bear the responsibility of offsetting their carbon footprint by supporting projects engaged in carbon-emission-reduction activities. There are several such projects available, and this project presents the viability of an exchange that allows individuals or companies to buy these carbon credits.
Most Creative: Oasisfish
With his Daml-based project, Sumit tackled the problems created by overfishing and other environmental issues impacting the marine ecosystem. From the fishermen and their vessels to the regulatory bodies involved, Oasisfish uses Daml to protect marine biodiversity, public safety, and the fishing industry.
Best Implementation: Community Mint
Inspired by the recent popularity of non-fungible tokens (NFTs), Zechen and Jonathan set out to apply the unique properties of Daml smart contracts to create an NFT marketplace. Current NFT-related blockchains require developers to make large trade-offs between privacy and consistency. For example, most NFT marketplaces require users to connect their wallets, leaking all past and future transactions to the public. Through the use of Daml, Zechen and Jonathan built an application that grants users full control over their privacy options in NFT transactions. The application also provides NFT communities the option to display and transact NFTs only to and from each other within the marketplace.
Honorable Mention: Smart Trade
Trade Finance involves the financing of goods or services in a trade transaction, from a supplier to the end buyer. It accounts for 3% of global trade worth approximately $3 trillion USD annually. The complex ecosystem of fees, intermediaries, formalities, and processes that comprise the movement of goods from exporter to importer is neither cost-effective nor time-efficient. Gaurav’s project represents an effective example of how Daml smart contracts can solve many of the complexities in Trade Finance.
Both SE2 and Digital Asset greatly appreciate the amount of effort and creativity put into this hackathon from all participants. From students and new developers to seasoned coders, it's incredible to see what happens when creators harness the power of Daml. Great work everyone and congratulations to our winners!
Remember - it’s never too late to become a Daml developer.