TBD Offers $30,000 Grant to Enhance African Payment Systems

TBD, a part of Block, has announced the launch of the TBD Hackathon, in collaboration with the Africa Bitcoin Conference, where winners will get $30,000 as grant to help address the gaps in Payment systems across Africa.

The hackathon is an exciting competition designed to drive innovation, creativity, and technological advancement of payments in Africa using the tbDEX open-source protocol. The submission period for the hackathon, which opened July 31, 2024, will close on September 15, 2024. The hackathon culminates 9-11 December 2024 in Nairobi, Kenya, at the Africa Bitcoin Conference.

The TBD Hackathon initiative is aimed at unleashing the potential of African developers and innovators. The competition will bring together the best builders and entrepreneurs to address issues in payment systems across Africa. Currently, many African countries face challenges such as limited access to banking services, high transaction fees, and inefficient cross-border payments. TBD’s open-source trust protocol, tbDEX, aims to address these problems by connecting users to wallet providers and financial institutions of their choice, surfacing competitive exchange rates and fees.