Grant Thornton’s Blockchain Lab team participates in the Hackathon organized by Telefónica

Telefónica Open Future crowdworking space held the first Hackathon based on Blockchain technology, “Blockchain Challenge”, on 24th, 25th and 26th of November, in Madrid.

The participant teams worked for three days to develop projects based on this technology with the help of mentors and the participation of Blockchain experts. Luis Pastor, Grant Thornton’s IT Consulting & Innovation Partner was among the speakers and gave a presentation on the Alastria National Consortium.

Additionally, numerous members of Grant Thornton’s Blockchain Lab participated as mentors and members of the jury, in representation of Alastria.

The challenges faced by participants were based, among other fields, on IoT, cybersecurity and public administration. These challenges were turned into projects based on different use cases of the Blockchain technology, from its use to create a network that allowed technicians to connect with companies, to systems designed to increase people’s participation in public polls or conflict resolution between individuals.

The awarded projects obtained, among other prizes, the right to be members of Alastria Network, the Spanish multisector consortium promoted by companies and institutions to stablish a Blockchain semi-public infrastructure, of which Grant Thornton is founding partner.

After the event, the potential of this technology to reach many sectors was clear, and its ability to be compatible with other technologies, allowing to reach higher efficiency levels and the creation of disruptive business models.