April 18, 2024
PRESS RELEASES GCC UAE

MENA’s Largest Hackathon in the UAE: Three Winners with Web3-Improving Inventions

Bybit, the world’s third-largest crypto exchange by volume, partnered with DMCC Crypto Centre to successfully wrap up a groundbreaking hackathon, empowering Web3 innovation in Dubai.

The collaborative effort between Bybit and DMCC, announced in June to foster the mass adoption of Crypto and Web3 in Dubai, culminated in the largest hackathon in the MENA region. The event featured a USD 110,000 prize pool dedicated to advancing crypto innovation within the Web3 ecosystem, marking a significant milestone in their partnership.

Ten pioneering teams showcased their groundbreaking innovations in diverse blockchain domains, including GameFi, decentralized finance (DeFi), Web3 infrastructure, NFTs for Web3 Education, and sustainable blockchain solutions during the hackathon’s final stage. The competition resulted in three standout projects claiming the top spots.

The winners are as follows:

•Evai.io

This year’s Crypto Innovation Challenge in the UAE is Evai.io, a pioneering solution revolutionizing the evaluation of emerging asset classes like Crypto, DeFi, and NFTs. Combining peer-reviewed financial research with cutting-edge ML modeling, it ensures unbiased asset evaluation. Founded in 2019, it leads with evolving predictive capabilities, guided by UK-based professors overseeing daily simulations. Its ratings and signals aid portfolio management, Trading Bots, and APIs. Recognized by the UK government and institutions, it adapts for wider assets and offers insights through webinars, courses, and industry reports.

•Pravica

Pravica, the second winner of the hackathon, introduces a cutting-edge peer-to-peer Web3.0 messaging and value transfer infrastructure. Their innovative model ensures secure messaging across diverse blockchain networks, setting a new standard for dependable communication. Pravica’s decentralized, open-source messaging platform prioritizes privacy and transparency, enabling trustworthy digital conversations. With robust cryptographic encryption and unique user authentication methods like DIDs and wallet keys, Pravica guarantees unparalleled security, offering users complete peace of mind while communicating in a truly private and protected space.

Last Updated on 2 months by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers the latest business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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