Review | DoraHacks World Tour Hack Ended in Oxford，Virtual Currency Raising Program “Proof-of-loan” Won the First Prize
The DoraHacks World Tour Hack (DoraHacks GHS 2018) continued in October 2018. From 20th to 21st, the Hacker team composing hundreds of top local engineers and college students from Oxford created 12 programs relating to blockchain and finance, altogether competing for 10000USDT. In the end, LFP Heckers, led by Tatiana Botskina, with their virtual currency raising programme “Proof-of-loan”, won the title.
https://www.youtube.com/watch?v=Pt-6VaQAi8o
“Proof-of-loan” can be used for virtual currency fundraising and trading. Blockchain financial projects based on “Proof-of-loan” enable investors to provide debt financing to start-ups (like bonds purchasing), with guaranteed interests and principal repayments warranted by the net income of the company. The use of funds is controlled by smart contracts and the contracts embedded therein (which define the use of funds), and financial reports are automatically recorded on the blockchain. In these ways, the project fundraising and operation process can be more secure and transparent. Jingyi Yao, a judge and partner of Fenbushi Capital, said that this program has considered different angles of wallets, KYC, investors, financiers and other various elements of compliance in ecology. Comparatively, this program has a more complete idea.
Project BTC automatic hedging service platform “Bithedge”, created by Alex Waltz et al., got the runner-up. Cryptocurrency investors face high fluctuation risk in the so-called “one day of the coin, one year of the world” when trading, as well as the liquidity risk of “selling to earn”. On “Bithedge”, cash-cryptocurrency traders are free to trade BTC and cash, and hand over the trading authority to “Bithedge”. The instant and automatic trading of BTC avoids risk of losing profits. The judges said that the automatic purchase of bitcoin is a good idea, there may be larger room for development.
Seba et al. created the project “Company Asset Registry” and won the third place. The rationale for this agreement is that different assets are audited by regulators and insurance companies, and registered as corporate assets on the blockchain so that it can simplify business processes and save maintenance costs for large enterprises. The agreement is implemented in HTTP in the form of a RESTful API. The judges evaluated that, unlike other similar projects, its scale was larger and a better platform was chosen to implement it.
Special thanks to Block72, Fenbushi Capital, Preangel for supporting Oxford station of DoraHacks World Tour Hack. Also, special thanks to the local VC, blockchain community, university organizations, and other organizations including StakeZero Ventures、ZeroLine Capital、Prime Factor Capital、Oxford Blockchain Society、London Blockchain Labs、Blockchain Beginners、zilliqa、Cryptoplan、Cryptolingo, etc.
Special thanks to Oxford University twin brother and sister Zhaomeng Chen and Qizhao Chen’s support for organizing and leading the Oxford Station Family.
