Yesterday the Reserve Bank of India unveiled its second global hackathon, Harbinger 2023. The event has a four-pronged focus, including use cases for its retail central bank digital currency (CBDC) and blockchain scalability. The National Payments Corporate of India (NPCI) is supporting the hackathon.
Registration runs from February 22, with proposals due by March 24. The first prize is Rupees 4 million ($48,000), with winners to be announced mid-August. While the hackathon invites global participants, including individuals, there’s a preference for those knowledgeable about the Indian financial services sector and consumers.
India started its retail CBDC pilot in late November 2022, and by early February it had executed 770,000 transactions. This followed the launch of a wholesale CBDC pilot in October.
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