BLOCKCHAIN TECHNOLOGY COMPETITION.
Overview
BLOCKCHAIN
TECHNOLOGY COMPETITION.
Introduction
A blockchain is a decentralized,
distributed ledger that is used to maintain a continuously growing list of
records, called blocks. It is decentralized because the ledger is created and
maintained by a network of computers and the computers work as peers. No one
computer in the network controls the network. The ledger is distributed equally
to all computers in the network. A ledger contains records. Blockchains special
feature is that it creates a number of records and packs them together into a
block. It is called blockchain because it links these blocks in a chain. Each
block has a time stamp and a hashed record of the previous block. These records
are hashed cryptographically making them impossible to change or edit. Hashing
means applying the most advance encryption methods on the records before they
are recorded on the ledger. The block in which the records are packed is also
hashed cryptographically with information from the previous block. Each block
contains a timestamp and a link to a previous block. Blockchains are inherently
resistant to modification of the data because the data is secured
cryptographically. Practically a blockchain is very useful in recording
transactions between people. Recording such transactions on a blockchain has
value because such a record cannot be changed and it becomes a record of the
truth.
One of the simplest ways to use
blockchain is to record ownership of assets and their transfer. That is why
blockchain is so widely used to create tokens used as money. A blockchain token
used as money removes one of the biggest risks in monetary transactions because
if you transact with your token today you cannot claim to own it tomorrow and
use it again. Blockchain eliminates the double spend problem. Beyond money, the
immutability of the records on a blockchain makes blockchain technology useful
in all areas where assets are recorded and transacted. Simple examples of
potential uses of blockchain are in the finance industry, land registries,
intellectual property rights and hundreds more. With blockchain a centralized
third party is not needed. This is appealing to libertarians because their
transactions are beyond the reach of regulatory agencies like tax collectors,
central banks and crime prevention
agencies. There is an intense ongoing debate on how to control the use of
blockchain so that the potential negative uses of the technology can be mitigated.
Purpose of
competition
The
purpose of the blockchain technology contest is four fold. The first is to invigorate the extensive and
well trained and active IT community.
Kenya today has a very large number of well educated and experienced
professionals. These professionals are a very large pool of great talent. The
first purpose is that the contest aims to put these people to work. The second purpose is to direct this talent
to an area of great potential in social and economic well being. The contest
will challenge IT experts to look at blockchain technology, study it and
understand it. They will study social trends, business practices, and the
economy to see how the technology can improve people’s social and economic
wellbeing. By directing their attention to blockchain they will eventually put
themselves at a vantage point in a technology that will be necessary in many
business processes in the future.
Expertise in blockchain technology will be a boom for the individuals
and for the country. The third purpose of the contest is to arouse awareness to
various stakeholders like regulatory agencies, business people and the public
at large on the benefits of blockchain technology. Increased awareness will lead to the creation
of an appropriate environment for the adoption of the technology. It will also lead to early widespread
adoption of the technology to the benefit of businesses and society at large.
Blockchain description
A blockchain
is an open distributed ledger across a peer-to-peer internet network that can
record transactions between two parties efficiently and in a verifiable and
permanent way. A ledger is a record of transactions between parties or a record
of data like a record of assets and their owners. Records are recorded in
blocks of a specific size and the blocks are stored in a chronological chain
hence the name blockchain. Various computational methods are deployed to ensure
that the recording on the ledger is permanent, chronologically ordered, and
available to all participants on the network. The same copy of the ledger is
distributed and maintained by all participants across the network. With
decentralized ledgers no single party has control, but roles can be assigned.
There's no central location or central authority for the ledger and that's the
peer to peer methodology behind blockchain. Blockchain operates on the basis of
cryptography, the study of techniques for secure communication, which seeks to
prevent records from being compromised or manipulated. With a decentralized
ledger updating is universal and happens simultaneously across all
participants because the ledger is
distributed out to the participants. There are several compelling benefits to a
decentralized ledger. It's open and transparent. Every copy contains every
transaction ever recorded. It maintains secure data with practically zero risk
of tampering. The data remains intact and free of corruption because there are
multiple copies held by multiple users and no participant can change a verified
record. The ledger itself can also be programmed to trigger transactions
automatically in what are called smart contracts.
With
blockchain, we can imagine a world in which contracts are embedded in digital
code and stored in transparent, shared databases, where they are protected from
deletion, tampering, and revision. In the blockchain world every agreement,
every process, every task, and every payment would have a digital record and
signature that could be identified, validated, stored, and shared.
Intermediaries like lawyers, brokers, and bankers might no longer be necessary.
Individuals, organizations, machines, and algorithms would freely transact and
interact with one another with little friction. This is the immense potential
of blockchain.
Various
computational methods are deployed to ensure that the recording on the database
is permanent, chronologically ordered, and available to all participants on the
network. A
distributed ledger can be
described as a ledger of any
transactions or contracts maintained in decentralized
form across different locations and people, eliminating the need for a central
authority to keep a check against manipulation. A
distributed ledger gives control
of all its information and transactions to the users and promotes transparency.
Greater security is also
provided due to their decentralized
nature, as well as the fact that the ledgers
are immutable.
On
a blockchain, once a transaction is sent it is sealed and cannot be reversed.
No single party controls the data or the
information. Every party can verify the records of its transaction partners
directly, without an intermediary. Communication occurs directly between peers
instead of through a central node. Each node stores and forwards information to
all other nodes. Every transaction and its associated value are visible to
anyone with access to the system. Each node, or user, on a blockchain has a
unique 30-plus-character alphanumeric address that identifies it. Users can
choose to remain anonymous or provide proof of their identity to others.
Transactions occur between blockchain addresses. Once a transaction is entered
in the database and the accounts are updated, the records cannot be altered,
because they’re linked to every transaction record that came before them (hence
the term “blockchain”). The digital nature of the ledger means that blockchain
transactions can be tied to computational logic and in essence programmed. So
users can set up algorithms and rules that automatically trigger transactions
between nodes.
Competition Description
Blockchain
technology competition requirements:
1.
State a case where
blockchain technology can be used to improve people’s social and economic well
being.
2.
State in detail how
blockchain can be used in the stated use case.
3.
State in detail how
peoples social and economic lives will be improved by using the technology in
the stated use case
4.
Show in detail how
blockchain can be deployed in the stated use case to improve people’s social
and economic well being.
5. The dates of the competition will be
announced shortly
Submission of Solution
Each
Participant will be required to send their submissions in accordance with the
requirements which will be provided in the submission format (link).
Submissions will be assessed by an assessment panel comprising of the promoter
and experts in various related fields. The decision of the panel shall be final
and binding.
The use case must be described in
writing and with the aid of diagrams, pictures and other media.
Competition Requirements and
management
1. Who
can participate
A.
Any
individual with a desire to contribute to the welfare of society
B.
Any
organization formal or informal who chose to work together to offer a solution
C.
Any
organization that wishes participate in offering a solution
2. Registration
i.
Name
ii.
Email
iii.
Mobile number (this will
be used as your password)
iv.
Profession
v.
Occupation
BLOCKCHAIN COMPETITION TERMS AND CONDITIONS
Overview
1. The Competition is conducted by
Innovatology Partners Limited, the promoter.
The promoter’s registered office is P.O. Box 57225, 00200, City Square,
Nairobi. Any rights of the Promoter are extended to its affiliates.
2. The Competition seeks to identify
and reward an innovative and outstanding contribution to the IT industry by
eligible competitions.
3. Registration by competitions and institutions
for the competition is free of charge and must be in accordance with the
competition terms. By registering, competitors and institutions agree to be
bound by the competition terms. Any registration or entry that is not in
accordance with the competition terms will not be valid and will not be
considered.
4. In this agreement, unless the
context otherwise requires, 'Intellectual Property Rights' means all
intellectual property rights, registered or unregistered, including the
following rights:
a) patents, copyright, registered
designs, trademarks, know-how, inventions and the right to have confidential
information kept confidential; and
b) any application or right to apply
for registration of any of the rights referred to in paragraph
COMPETITION OBLIGATIONS
5. To participate in the
competition, competitors must register and submit an entry for the competition.
Entries must be in accordance with the competition terms and conditions.
6. Entries must not include
inappropriate language or material, gratuitous violence, sexual references or
statements or material that, in the promoter’s opinion, promote hatred towards
an individual, race, or community or which are offensive, illegal, inflammatory,
obscene, unsuitable for minors, abusive, indecent, threatening, or otherwise
unlawful.
7. By submitting an entry, each
competitor warrants that:
a) all details provided with the
competition's entry are true and accurate;
b) the competition's entry, and the
innovation submitted as part of that entry, is wholly comprised of original
work, created and owned by the competition, and has not previously been
communicated to the public;
c) the inspiration includes all
ideas and materials that inspired the innovation;
d) the competitors entry does not
contain commercial words, art, photographs or images;
e) the Competitors entry does not
contain any identifiable existing product or existing product logo;
f) the competitor has all necessary
rights and licenses to grant the rights set out in these competition terms;
g) the exercise of the rights
granted to the promoter in these competition terms will not infringe the rights
of any third parties; and
h) the competitor will indemnify the
promoter against any loss of damage resulting from any breach of these
warranties.
8. In the event of any
non-compliance with any clause, the promoter may, in its discretion, determine
that the competition's entry is not valid and is excluded from the competition.
The promoter reserves its rights to seek damages and enforce the indemnity
provided in those clauses.
EVALUATION
The
winning competition will be chosen based on the following scores
1)
Originality and creativity of idea 20%
2)
Clarity in
describing how blockchain can be used in
the stated use case 5%
3)
Potential to develop the solution
offered to a practical service to society 25%
4)
The impact of the
proposed use of blockchain technology in the case stated when implemented. The
impact will be based on social and economic parameters. 25%
5)
The description of
the technical details to implement the
stated solution which will show the competitors understanding of bockchain
technology and how to deploy it in the stated use case. 25%
COMPETITION FINALISTS, FIRST
PRIZE WINNER,
10. Finalists will be determined by
a competition judging panel consisting of representatives of the promoter and
experts in IT and commerce. The value of the price will be announced later
11. The finalists must execute a
copy of these competition terms to be eligible to receive the prizes.
13. The finalists will be invited to
attend the final ‘Judging Event’
in person, being the final event where they will present their entry to the
judges held at a location to be advised by the promoter. Travel and
accommodation expenses will be the sole responsibility of each of the
finalists.
14. During judging:
a) the judging panel shall determine
the winners by applying the criteria in evaluation of the competition terms
summary and selecting the entries which, in the opinion of the panel, best meet
those criteria;
b) the judging panel may choose
more than three (3) finalists or more than three (3) prize winners at their
sole discretion
d) If a judging panel is unable to
make a unanimous decision, they will decide winners by a simple majority vote
of the members of the panel.
17. The prize values and description
are correct at time of printing, but no responsibility is accepted for any
variation in the value or the nature of any prize. Prizes supplied by a third
party are subject to availability. In the event that any prize is unavailable
for whatever reason, the promoter reserves the right to substitute any prize
for a prize of equal or greater value.
18. If a winner has not been in
contact with the promoter to claim its prize within 30 of days of a
notification telephone call or email, the promoter reserves the right to offer
the prize to the next eligible entrant selected by the relevant judging panel.
The promoter does not accept any responsibility if a winner is not able (or
otherwise fails) to take up the prize. In that event, the new winner will be
selected in accordance with the competition terms.
19. Prizes are not transferable or
exchangeable, and non-monetary components cannot be taken as a monetary
payment.
20. Upon the three winners:
a) the promoter will have 60
days to negotiate with the winners on the purchase of the Intellectual Property
Rights in the three prizes;
b) If the promoter and any of
the winners are unable to reach agreement on the purchase of the intellectual property
rights within the relevant periods specified above, the winners will maintain
their ownership of their intellectual property rights in their innovations.
21. During the negotiation
periods set out in clause 20, the winners must not consider or negotiate any
offers from third parties to purchase the intellectual property in the
innovation.
LIMITATION
OF LIABILITY
24. To the full extent permitted by
law, the promoter, its affiliates, representatives, agents or distributors will
not in any circumstances be responsible or liable to compensate competitors or
institutions, or accept any liability for:
a) any incorrect or inaccurate
information
b) any technical error that may
occur in the course of the administration of this competition.
c) any error, omission,
interruption, deletion, defect, loss or delay of any entry or otherwise in
operation or transmission, communications line failure, theft or destruction or
unauthorized access to or alteration of a competition's entry or the running of
the competition; or
d) any injury, damages, expenses,
cost, liability or loss whatsoever (whether direct, indirect or consequential)
to competitors or institutions or their respective property as a result of any
person entering into the competition or accepting or using any prize, including
without limitation to non-receipt or damage to any prize.
25. These competition terms do not
exclude any rights that cannot be excluded (for example, any such rights under
applicable consumer protection legislation), to the extent permitted by law.
DATA PROTECTION AND PRIVACY
26. The promoter collects,
holds and processes personal information about competitors and institutions to
include competitors and institutions in the competition, administer the
competition, to award prizes (where applicable). If the personal information
requested is not provided, a competitor or institution will be ineligible to
participate.
27. Competitors agree that the
promoter may, in the event the competitor becomes a finalist or winner, publish
or cause to be published their personal information, name, photograph or
likeness and locality in any media globally, without compensation. Winners must
participate in publicity calls and marketing as requested by the promoter
during the competition and up to 18 months after selection of the winners. Competitors and institutions accept personal
information provided to the promoter in accordance with these competition terms
will be held and used according to the promoter’s privacy policy.
28. Competitors may submit only one
entry.
29. The promoter reserves the right
to amend these terms at its sole discretion, by posting updated terms at
inovatology.com. By continuing to participate in the competition, or accepting
any prize, competitors and institutions are deemed to accept the amended terms.
30. Each competitor must keep
their entry, and their innovation, confidential, and not disclose any
information about their entry or their Innovation to any third party, except as
required by law or permitted by the promoter or these competition terms. This
confidentiality obligation continues until the date that the winners are
announced by the promoter, and does not apply to any information in the public
domain (other than if due to a breach of these competition terms).
31. The promoter may at its own
discretion refuse competitors and institutions entry to the competition or to
award any prize if competitors or institutions fail to comply with these terms,
the law, or if, in the promoter's opinion, a competitor or institution's
involvement with the competition may cause adverse publicity to the promoter.
32. Competitors retain ownership of
any Intellectual Property Rights in their entries and innovations subject to
these terms. Competitions will grant the promoter and its affiliated companies
or nominees a worldwide, perpetual, irrevocable, sub-licensable, royalty free
license to use the Intellectual Property Rights in competitors entries (and any
component of entries) for the purposes of the competition and any promotional
and marketing purposes without notice and without any fee being paid, including
(without limitation) to use, display, publish, transmit, copy, edit, alter,
store, communicate to the public, re-format and sub-license entries.
33. Competitors and institutions
acknowledge that the promoter and its affiliated companies may exercise the
global, non-exclusive right to communicate competitors entries in whole or in
part to the public on any media platform.
34. Competitors and institutions
acknowledge that the promoter and its affiliated companies may allow other
persons to view, reproduce, download and otherwise deal in the copyright works
attached to and embodied in entries.
35. Upon entry, competitors and
institutions waive their Moral Rights (described below) and any other similar
rights in the entries and innovations and consent to any act or omission that
would otherwise infringe moral or similar rights. In these terms, Moral Rights
includes:
a) a right of attribution of
authorship
b) a right not to have authorship
falsely attributed
c) a right of integrity of
authorship; and
d) any right of a similar nature
which is conferred by statute and which exists or comes to exist anywhere in
the world.
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