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Business News/ Technology / RBI's 2nd hackathon ‘Harbinger 2023’ announced; winner to get 40 lakh prize
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RBI's 2nd hackathon ‘Harbinger 2023’ announced; winner to get ₹40 lakh prize

RBI says that Being part of HARBINGER 2023 gives an opportunity to the participants to get mentored by industry experts and exhibit their innovative solutions before an eminent jury and win exciting prizes in each category

Interestingly, the winner of the hackathon will be given a prize of ₹40 lakh and runner-up ₹20 lakh. (HT_PRINT)Premium
Interestingly, the winner of the hackathon will be given a prize of 40 lakh and runner-up 20 lakh. (HT_PRINT)

The Reserve Bank on Tuesday has announced its second global hackathon called 'Harbinger 2023 - Innovation for Transformation' with the theme of 'Inclusive Digital Services'. The statutory body has invited fintechs from all over the world to develop solutions that have the potential to make digital financial services accessible to the differently-abled, facilitate efficient compliance, extend the reach of Central Bank Digital Currencies and enhance the scalability of blockchains.

"Being part of HARBINGER 2023 gives an opportunity to the participants to get mentored by industry experts and exhibit their innovative solutions before an eminent jury and win exciting prizes in each category," the RBI said.

Registration for the hackathon starts from February 22, 2023. The RBI has invited innovative ideas in four segments - 'Innovative, easy-to-use, digital banking services for differently-abled (Divyaang); RegTech solutions to facilitate more efficient compliance by Regulated Entities (REs)'; Exploring use cases/solutions for CBDC-Retail transactions, including transactions in offline mode'; and 'increasing Transactions Per Second (TPS)/ throughput and scalability of blockchains'.

Interestingly, the winner of the hackathon will be given a prize of 40 lakh and runner-up 20 lakh. To recall, the first hackathon was announced in November 2021 and results were declared in June 2022. It had received 363 proposals submitted by teams from within India and from 22 other countries including the US, UK, Sweden, Singapore, Philippines, and Israel.

The hackathon is hosted on Application Programming Interface Exchange (APIX) platform. As per RBI, a participant may click on (https://hackolosseum.apixplatform.com/h1/harbinger2023link) to register for the hackathon and submit the proposal after the registration.

As per the RBI, applications will be received only through the online process and the bank will shortlist the promising solutions for further stages of the hackathon.

Speaking on eligibility, RBI informs that all entities, teams or individuals (eighteen years and above) who are eligible to enter into a contractual agreement are eligible to apply. Further the product/solution should have an element of innovation or novel application of technology serving common good, says RBI.

How to Apply?

STEP1. Please click on the link for registration. (https://hackolosseum.apixplatform.com/h1/harbinger2023link)

https://hackolosseum.apixplatform.com/h1/harbinger2023

STEP2. Once registered, select the problem statement, and submit your proposal. Please fill

in the responses for all the proposal questions.

STEP3. You may apply for more than one problem statement if you fulfil all the criteria set out

in each category. Your solution can aim to address the needs covered by more than

one problem statement. We are looking at the uniqueness of the proposition and

feasibility of the business model alongside to achieve the desired goal.

(Win inputs from PTI)

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Published: 16 Feb 2023, 12:40 PM IST
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