Blockchain Hackathon (eNaira Hackathon): With the objectives of building scalability and bridging the tradeoffs in the newly launched Nigeria digital currency, the Africa Fintech Foundry (AFF) in collaboration with the Central Bank of Nigeria (CBN) decided to launch the 2022 CBN/AFF eNaira Digital Currency Hackathon for Africans.
Are you an African Blockchain or Crypto Currency enthusiast? This is a privilege for African Crypto analysts (Fundamental and technical) and Blockchain developers to come on board and solve problems with their tech knowledge on the cryptocurrency space at the CBN/AFF eNaira Digital Currency Hackathon.
Participants from all over the continent will be able to apply. The Hackathon will have a hybrid framework (Physical and Virtual). The physical event will take place at AFF premises in Lagos and a CBN-designated location in Abuja.
Innovators will create eNaira use cases in the following areas. There is also the possibility of innovating outside of these domains [Wildcard Innovations].
The eNaira is a central bank digital currency (CBDC) guaranteed by law and the complete sovereignty of Nigeria, issued as legal tender by the Central Bank of Nigeria.
It is the digital equivalent of the Naira and is used in the same way as currency is. The eNaira wallet is a digital wallet that stores eNaira. To access, hold, and use eNaira, an eNaira wallet is necessary.
The Central Bank of Nigeria issues and regulates the eNaira digital money. The eNaira, which is denominated in naira, acts as both a medium of exchange and a store of value, and it claims to give better payment prospects in retail transactions than cash.
President Muhammad Buhari launched and activated the eNaira on October 25, 2021, with the tagline “Same Naira, More Possibilities.”
Since October 28, 2021, the eNaira Speed Wallet application has been available for download on the Google Play Store and the App Store.
Brief Program Details
Program Sponsor(s): Africa Fintech Foundry and Central Bank of Nigeria
Program Type: Hackathon
Scholarship Category: Entrepreneurship
Award Value: Huge Financial Funding
Number of Awardees: Not stated
Application Deadline: Open
Objectives of Program
Below are the objectives for the 2022 CBN/AFF eNaira Digital Currency Hackathon:
- Macroeconomic Growth: Improve macroeconomic management and growth in the country and continent at large.
- Cross-Border Trade: Facilitating cross-border trades between various countries in Africa and across the ocean
- Financial Inclusion: Exploring various products that will bring banking services to the unbanked
- Monetary Policies: Exploring various solutions to efficiently manage the supply and demand of money in the country.
- Improved Payments: Improving the Infrastructure for payments and ensuring little to no failures
- Improved Tax Collection: Efficiently collecting taxes for the government and ensuring debtors are easily recognized
- Improved Remittances: Improving the flow of foreign currencies into the country and ensuring it is properly recorded
- Targeted Interventions: Easily carry out interventions such as social interventions in times of crisis and ensure it gets to the citizens individually.
Who is Eligible to Participate
To be eligible for the eNaira Hackathon, below are the criteria that must be met:
- Interested participants must be Africans
- Candidate should have past projects to show at the point of registration(You can showcase any of your tech projects)
- Designers, developers, programmers, and all kinds of tech creatives are eligible to apply.
- Interested persons must be crypto inclined
- Candidates should know about blockchain(Not compulsory to be a blockchain developer)
- Candidates should show the ability of critical thinking to solve the problem
eNaira Hackathon Locations
The Hackathon structure will be Hybrid (Physical and Virtual). The physical event will hold in AFF premises for Lagos and a designated location by CBN in Abuja.
How to Apply
Interested candidates should click on the “Ápply Button” below
Locate the apply now button on the application page to begin the application.