Winning team develops innovative decentralized application to create new online communities instantly
April 28, 2021 – Block.one today announced that Dao Bull has been named the winner of the EOSIO Beyond Blockchain Hackathon, which challenged participants to develop solutions that leverage the power of EOSIO blockchain technology and the latest in cloud computing to create a project with potential significant global impact. Dao Bull created a decentralized autonomous organization (DAO) platform that enables users to set up their own network in minutes.
A DAO is a company or organization built on open-sourced blockchain protocol that functions without a management structure and without the need for intermediaries.
As the world has adjusted to the new realities imposed by the COVID-19 pandemic, organizations have had to pivot to operating exclusively in the digital world; this exponential growth in online communities has illustrated the need for a system that empowers hobbyists, developers and entrepreneurs alike to establish their own online presence seamlessly. By uniting people through a set of rules, Dao Bull leverages the benefits of blockchain and cloud-based systems so that organizations can operate fairly and transparently, and so that they scale for future growth by incorporating features like social amplification and third-party app integration.
Dao Bull will create models that empower users to manage finances, shareholders and the community’s governance structure without relying on a centralized management system.
“Blockchain introduced the idea that online communities could operate beyond the traditional confines of a centralized system, creating their own set of governance models that aligned with their strategic objectives,” said Block.one’s SVP of Public Blockchain Engagement, Kevin Rose. “Dao Bull has helped expand access to communities around the world by providing a platform that empowers groups to stand up their own DAO nearly instantaneously. We host hackathons like these to encourage innovative, impactful projects like Dao Bull’s, and we’re excited to see the Dao Bull team further develop their model.”
Block.one also announced the runners up for the Beyond Blockchain Hackathon, whose successful entries demonstrate the diversity and breadth of the solutions submitted:
- 2nd Place: gGoods. gGoods, an open-source NFT standard, enables organizations and communities to create tokens that address the economic downturn plaguing nonprofits in the wake of the pandemic by crowdsourcing funding from the platform’s global user base.
- 3rd Place: Recoverable Online Wallets. Recoverable Online Wallets (ROW), built on EOSIO’s existing WebAuthn standards, introduce a social recovery system that removes the need for a centralized system that users must trust to recover passwords with emails. The solution removes the need for these antiquated forms of security by replacing them with multisig security systems.
- 4th Place: Finfluencers. Finfluencers created an immutable network of financial information, where trusted participants could share their knowledge with novice users to help them make informed decisions about their financial future.
Attracting more than 1,300 participants spanning 107 countries, the EOSIO Beyond Blockchain Hackathon provided the tools and framework for developers to participate in the evolution of blockchain technology by combining it with cloud-based systems to create novel solutions.
Last year, Block.one’s “Coding for Change” virtual hackathon focused on solving issues caused by the COVID-19 pandemic. The winner, Lifebank, leveraged EOSIO blockchain technology for an app that enabled users to create EOS accounts to manage their entire blood donation process, from validating donors to registering local businesses as sponsors in exchange for receiving a life token.
For more information on Block.one’s EOSIO hackathon series, please visit eos.io.
Block.one is a software firm specializing in high-performance blockchain technologies. A pioneer in distributed ledger innovation, Block.one develops the EOSIO open-source software, which is widely regarded as the market leader for blockchain power and scalability. Companies and developers around the world use EOSIO to create secure, transparent, and performant digital infrastructures.
Block.one is committed to empowering society by providing technology and products that enable trust in transactions, transparency in systems, and efficiency in how the world works. To learn more about Block.one, please visit block.one.
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