The Reserve Bank of India (RBI) is hosting its second worldwide hackathon in an effort to generate creative solutions to current problems outlined in problem statements. According to the RBI, the much-anticipated fintech event HARBINGER 2023 has finally arrived. The successful hackathon event hosted by RBI, HARBINGER 2021, is followed by this international edition, named “HARBINGER 2023 – Innovation for Transformation.” However, HARBINGER 2023 has a new theme, “Inclusive Digital Services,” and this time around, it has a new set of problem statements.
India is making an ongoing effort to compete on a global scale by hosting various fintech events to shape the future of digital fiscal services in India. As a result, the nation has witnessed the development of the fintech sector by providing financial services that are secure and easily accessible. However, to curb a few existing challenges, it has brought new problem statements in front of tech-savvy enthusiasts, which are as follows:
- Innovative and convenient use of digital banking services to empower individuals with disabilities by providing them with equal access to digital banking services.
- RegTech, or Regulatory Technology, solutions that help regulated entities simplify more systematic compliance in order to assist various financial organizations in improving their compliance, risk management, and regulatory governance.
- Exploring use cases for CBDC-retail transactions, along with offline transactions.
- To increase Transactions Per Second (TPS) and the blockchain network’s scalability. The increase in scalability will result in the wider adoption of blockchain technology for financial services.
All the teams, individuals, or entities whose age is above 18 years are eligible to be a part of HARBINGER 2023, provided they should be ready to enter into a contractual agreement. Fintech industry specialists will judge the participants, and their contemporary solutions will get a chance to win exciting rewards. The winner will get $40 lakh and the runner-up will get $20 lakh. The online registration period will run from February 22nd to March 24th, 2023. Participants who are interested can register their proposal using this link.