A Human-Centric DeFi Ecosystem is Possible

DeFi, or decentralized finance, is a collective term used to refer to the application of blockchain technology in the world of traditional finance. A Hackathon will explore DeFi solutions focused on bringing advanced financial services to anyone, anywhere.

October 23, 2020 by Aeternity

The core axiom of DeFi rejects the centralized nature of traditional finance and banking institutions, with DeFi platforms and developers working to recreate traditional financial infrastructure on decentralized applications or peer-to-peer architecture.

The core goal of DeFi is to wholly reconstruct the traditional banking system in an open, permissionless way — but the journey toward truly decentralized finance is obstructed by significant roadblocks that must be overcome.

Most of DeFi solutions active today aren’t focused on fulfilling the promise of delivering advanced financial services to everyone — instead, these solutions are much more money centric than human centric.

This paradigm presents a clear need for focusing DeFi development on social economies.

Globally, 1.7 billion adults remain unbanked, with almost one third of all adults worldwide lacking access to financial and banking services. Financial inclusion means providing people with the ability to save for family needs, start or support businesses, or build savings.

The Human DeFi Hæck wants to contribute to bring the advantages of DeFi from humanistic perspective.

The Hæckathon will bring together the best minds in the DeFi ecosystem to create an equitable, open, and accessible decentralized future for anyone, anywhere.

The Hæckathon is an initiative from æeternity blockchain and superhero.com, the new decentralized social network built on top of æternity, to leverage the unique advantages of the æternity protocol for DeFi solutions.

Embedded oracles, unlimited scalability and low fees, and a safer programming language for smart contracts are just some of the features that make æternity — the Erlang based blockchain — a technically superior protocol, specially for building DeFi solutions.

The Hæckathon will be running remotely on devpost.com from Nov 10th to Dec 10th and, apart from giving developers the tools and resources to learn how to build on æternity, will facilitate design thinking techniques to make sure that the solutions developed answer real needs of the market.

Importantly, projects created during the event even might have the chance to be further developed after the Hæckathon, helping to accelerate the development of a decentralized future.

Responding to the vision of human-centric DeFi, the Hæckathon operates with the collaboration of Blockchain 4 Humanity, an international non-profit whose aim is to leverage the potential of blockchain for the greater good. Blockchain 4 Humanity will lead design thinking webinars and guide participants toward the development of meaningful solutions.

Participants share the opportunity to capture up to $16,000 USD in ae tokens in prizes, as well as the possibility to get in-depth assistance in the development of their project.

Superhero.com unleashes a new world of social networking that leverages the full power of decentralization technologies to achieve a new framework for social and financial interactions with special superpowers.

Some of the first superpowers that drive the Superhero platform are peer-to-peer, censorship resistant, and permissionless tipping to content creators, a voting app, and the ability to create and join private video rooms in which participants can send and receive tips.

During the Hæckathon, the participants will be able to add new models of financial interaction that may ultimately end up integrated as new features in Superhero.com.

Registration for the Hæckathon is already open. Participants are able to access more information and sign up at https://humandefihaeck.devpost.com/.