CyPop group, which developed technology in the field of SupTech, won Israel's first blockchain hackathon.
As part of the hackathon, innovative solutions were devised to provide solutions to challenges in the fields of issuing and managing government debt, as well as asset services such as securities and sovereign debt, voting rights implementation, dividends and interest distribution and streamlining regulatory reporting processes.
This unique hackathon is the product of cooperation between the Israel Securities Authority under Chairwoman Anat Guetta, the Accountant General of the Ministry of Finance Yali Rothenberg, Start-Up Nation Central managed by Avi Hasson, and the Start-Up Nation Policy Institute headed by Uri Gabai.
During the hackathon, which took place at the offices of Start-Up Nation Central, eight teams of developers and startups competed for more than 24 hours with the goal of developing innovative solutions in the fields of issuing securities, registration and trading of government debt, services for implementing voting rights, dividend distribution and streamlining of regulatory reporting processes.
The teams presented their solutions to the panel of judges which included: Accountant General Yali Rothenberg, Chairman of the Tel Aviv Stock Exchange Arik Steinberg, managing partner at Team8 Sarit Firon, international fintech expert Ghela Boskovich, and Daniel Eidan, a consultant and architect of blockchain and CBDC solutions at the innovation department of the Bank for International Settlements (BIS) innovation.
After the pitches were presented, Yali Rothenberg, the head of the panel of judges, announced CyPop as the winning team. CyPop's team members,Avi Wolicki, Yinon Hadad and David Polevoy, developed a solution that will facilitate regulatory reporting (SupTech) by transferring information to blockchain, signing and sharing it with the regulator. Uploading information to blockchain is expected to facilitate the signing of vast quantities of information in a short amount of time. Applying this solution will increase the regulator's access to credible information, therefore cutting costs associated with today's complicated processes.
The hackathon's runners-up are MagnaD group, which used the DAML language and Cymmetria which also incorporated Algorand technology. Both teams developed solutions to streamline the way in which government debt is issued, handled and traded.