Forward Titans wins Bank of Ghana’s eCedi Hackathon challenge, awarded GHS 500,000
Forward Titans emerged as the victors of the inaugural eCedi hackathon organized by the Bank of Ghana (BoG), receiving a substantial prize of 500,000 eCedi. The award ceremony, held in Accra, also recognized Nokofio as the first runner-up, receiving 300,000 eCedi, and Pay Code as the second runner-up, securing 200,000 eCedi.
The e-Cedi hackathon, which commenced on October 6, 2023, was conducted under the oversight of the BoG and its technology partner, EMTECH Solutions. The competition served as a platform for creators, developers, and entrepreneurs to conceptualize innovative solutions utilizing the e-Cedi.
Governor of the BoG, Dr. Ernest Addison, expressed gratitude during the award ceremony for the remarkable response from innovators worldwide to the inaugural edition. He noted that 88 Innovation Concept Notes (ICNs) were submitted by the deadline on October 20, 2023.
Following careful evaluation, 68 ICNs were selected for the pitch day, and ultimately, 62 innovators accepted the opportunity to present their solutions. The competition culminated in 10 outstanding innovations progressing to the Demonstration Day.
“This is the maiden hackathon organised by the Bank of Ghana and we are glad that it has received an overwhelming response from enthusiastic creative minds and innovators across countries and continents.
“At the close of the submission of the innovation concept note (ICN) on October 20, 2023, 88 ICNs were received.”
“The number was pruned down to 68 for the pitch day. Out of the 68 selected for the Pitch Day, 62 accepted the offer to pitch their solution. After the Pitch Day, only 10 innovations were considered eligible for progression to the Demonstration Day,” he said.
Dr. Addison emphasized the significance of the hackathon in providing insight into the functionalities and versatility envisioned by the BoG for the e-Cedi.
The event showcased the enthusiasm and creativity of participants who sought to contribute to the development and utilization of the digital currency.
The eCedi hackathon underscores the Bank of Ghana’s commitment to fostering innovation in the financial sector and harnessing the potential of digital currencies for the benefit of the nation.
