Blockchain is the current big buzzword. While it’s currently deeply associated with cryptocurrency, the technology is far-reaching and will change the way people transact with each other. The nascent tech has already trickled into organisations and businesses, government agencies, and more.
What is blockchain and what can it do? How can the technology be applied in the real world?
In simple terms, blockchain is a decentralised, distributed and immutable gigantic digital ledger that’s used to record transactions across computer systems. Think of it as an accounting system that’s not hosted on a single computer.
Each computer is a node, and each node contains a chain of blocks (hence the term blockchain). Each block contains a ledger with a list of transactions. These transactions are crypographically secured, hence incorruptible and immutable, which makes the technology suitable for financial applications and digital currencies.
You can learn more about blockchain through these videos:
To explore the subject matter, national electric utility company Tenaga Nasional Berhad recently held an endurance hackathon entitled “Blockchain – Tokenization of Employee Reward System” hosted at MIGHT in Cyberjaya.
The hackathon is part of the iCON Hackathon Series organised by TNB’s ICT Innovation Department. The series started in mid-2017 as an internal hackathon for TNB staff and revolved around the subject of Smart Energy and Smart Security using Raspberry Pi.
The objective of the ICON Hackathon Series include instilling the spirit of innovation among TNB staff, to discover potential new technology for TNB applications, and to identify new inventions for its incubation program that will lead to new innovative products.
After receiving positive feedback, TNB subsequently opened up the hackathon for public participation.
The first public hackathon focused on the Internet of Things, themed “Enhancing Employees Productivity Through IoT.”
Next came “Enhance TNB Support Service Through Chatbot” which explored machine learning and artificial intelligence.
Which brings us to the third instalment in the series: “Blockchain – Tokenization of Employee Reward System.”
After opening the hackathon for registration on 16 March, a briefing was held at TNB Dua Central on 19 March 2018.
The official Pitching Day was held on 26 March at MIGHT, Cyberjaya with the participation of five teams from four private companies and one from Universiti Tenaga Nasional.
- Team Midori from Chaintope Malaysia Sdn Bhd
- Gyantope from Chaintope Malaysia Sdn Bhd
- EPC Blockchain from EPC Blockchain Sdn Bhd
- Blockchainers from Blockchain Technology (M) Sdn Bhd
- 404 Not Found from Universiti Tenaga Nasional
Each team was given a 7-minute slot to pitch their ideas with several minutes allocated for Q&A.
The ideas are judged based on practicality, innovation and originality, impact, technicality and overall presentation.
The winner takes home MYR3,000 while the runners-up and second runners-up rake in MYR1,000 each.
After an intense round of pitching, three teams were shortlisted to compete in the grand finals to be held later in May. They are: EPC Blockchain, Team Midori and Gyantope.
For more information about TNB’s Blockathon, visit https://iconhackathon.azurewebsites.net/
This post is brought to you exclusively by Tenaga Nasional Berhad.