G20 TechSprint 2022

The Finals Event and Winners Announcement takes on 12 October 2022, 18;30hrs - 21;00hrs Jakarta Time (UTC+7). Tune in to https://bit.ly/AwardsTechSprint-Attende to watch the proceedings.

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#g20 #g20techsprint #g20indonesia #bi #bis #bisih #cbdc #hackathon #techsprint

G20 TechSprint Journey
  • Start Registration

  • Proposal Deadline

  • Shortlist Finalists

  • Solutions Deadline

  • Announce Winners

All timings are as per (GMT +7:00) Bangkok, Hanoi, Jakarta
Organized By

Under Indonesia’s G20 Presidency, Bank Indonesia (BI), together with the Bank for International Settlements Innovation Hub (BISIH), is launching a G20 TechSprint to solicit innovative global technological solutions to catalyse developments in wholesale and retail Central Bank Digital Currencies (CBDCs).

This is the third edition of the G20 TechSprint, an annual longform hackathon organised under the banner of the G20 to seek out best-in-class technological innovations aimed at addressing high priority areas of interest amongst the global
community.

The G20 TechSprint 2022 challenges the international community of innovators, entrepreneurs, start-uppers, changemakers, creators, developers, data scientists, designers, digital marketing and communication experts who are passionate about creating extraordinary impact by solving one of three operational problems in the field of CBDCs.

The Finals Event and Winners Announcement takes place during a specially convened hybrid event on 12 October 2022, 18;30hrs - 21;00hrs Jakarta Time (UTC+7). Tune in to https://bit.ly/AwardsTechSprint-Attende to watch the proceedings. All are welcome. 

Problem Statements

Three problem statement categories, representing different functional objectives of CBDCs have been proposed for this year's G20 TechSprint.

Within each of the categories, a Main Problem Statement has been identified together with two Optional (bonus) Problem Statements. These were developed in consultation with the G20 and represent common high priority gaps and opportunities where innovative technology solutions in the CBDC space and sought.

Teams will need to register for one of the categories (either A, B or C) and submit proposals that addresses the Main Problem Statement. In addition, teams may also submit proposals to address the additional functionalities listed in either or both of the Optional Problem Statements.

Teams that successfully address the Optional Problem Statements will be awarded with bonus scores. However teams that do not address the Main Problem Statement and only the Optional Problem Statements will be disqualified.

[Category A] IMPLEMENTING EFFECTIVE AND ROBUST ISSUANCE, DISTRIBUTION AND TRANSFERENCE

Interested Teams need to propose solutions on how to implement optimal CBDC (W CBDC and/or R CBDC) design and technology, from issuance, to distribution and to end users

In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.

Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.

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Main Problem Statement: How might we implement the optimal CBDC (W CBDC and/or R CBDC) design and technology, from issuance (including conversion from reserve or money creation through monetary operation), to distribution and to end users?

Optional Problem Statement 1: How might we leverage CBDC programmability feature for efficient facilitation of cash and securities transfers, and for delivering new innovative services to customers?

Optional Problem Statement 2: How might we conduct audit, oversight & supervision and harness the power of granular transaction data from CBDC efficiently while protecting consumers’ sensitive data and privacy?

[Category B] ENABLING FINANCIAL INCLUSION

Interested Teams need to propose solutions that addresses how we enable inclusive, easy, convenient and affordable front-end CBDC access solutions for everyone, while maintaining regulatory compliance.

In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.

Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.

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Main Problem Statement: How might we enable inclusive, easy, convenient and affordable front end CBDC access solutions for everyone, including underbanked, unbanked and/or people with disabilities, while maintaining regulatory compliance?

Optional Problem Statement 1: How might we enable CBDC usage in areas with intermittent or unaffordable internet connectivity, while ensuring secure transactions as well as preventing double spending and illicit transactions?

Optional Problem Statement 2: How might we provide on boarding solutions which is seamless & integrated (to other digital identity and/or KYC systems) and enhancing AML/CFT while protecting privacy?

[Category C] ENABLING CONNECTIVITY AND INTEROPERABILTY

Interested Teams need to propose solutions that addresses how CBDC platforms can enable payments in an efficient, scalable manner that complies with regulation.

In addition to the Main Problem Statement, Teams who wish to compete for bonus scores can also submit proposals to address Optional Problem Statement 1, Optional Problem Statement 2 or both.

Do note that if selected, shortlisted teams who have indicated a desire to attempt the Optional Problem Statements would need to be able to develop and incorporate these added functionalities into their main prototypes.

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Main Problem Statement: How might we link up CBDC platforms to enable cross border payments (PvP and DvP) in a manner that is efficient, scalable & comply with the regulation.

Optional Problem Statement 1: How might we enable connectivity and interoperability with other CBDCs, with existing domestic payment rails (including national payments rails & privately operated e-money rails), and with other FMIs to enhance adoption and usage?

Optional Problem Statement 2: How might we enable connectivity between CBDC and other DLT platforms to settle transactions in cash and/or securities (including DvP) in a manner that is secure, fast, and easy to implement?

Prize

Cash awards to winning teams and cash stipends to all shortlisted teams

Attractive cash awards would be given to the winner in each of the problem statement categories. Cash stipends will also be given to each shortlisted teams to defray any development expenses. Cash contributions are from Bank Indonesia.

Host
Attractive Cash Prizes
Attractive Cash Awards @IDR 770,000,000 (+/- USD 53,000) , before tax and any additional charges, would be given to the winner In each of the Problem Statement Categories. These cash awards are contributed by Bank Indonesia.
Host
Cash stipends given to each shortlisted team
Cash Stipends will also be given to each of the shortlisted teams @IDR 145,000,000 (+/- USD 10,000), before tax and any additional charges, to defray any development expenses. These cash stipends are contributed Bank Indonesia.
Host
Engagements with Experts in CBDCs

Shortlisted Teams will also have the opportunity to have in-depth discussions and feedback from high profile experts in the CBDC Field

Media Centre

G20 TechSprint 2022 Launch Event

Eligibility

  1. The competition is targeted at Firms or Teams from all countries and jurisdictions interested in solving CBDC challenges posed in the problem statements and have a good track record of developing scalable technology solutions.
  2. The competition is open to all participants who meet all of the following criteria:
    • Fully complete the registration and proposal submission process by the stated deadline within the framework of the G20 TechSprint 2022's three Problem Statements; and
    • Are not an employee of the organising organisations (Bank for International Settlements and Bank Indonesia), or any of its subsidiaries, or an immediate family member of any such employee.
  3. Team leaders must fully register their teams and submit their proposal(s) to one or more problem statements by the close of the registration period. Teams are encouraged to register early. Registrations to specific problem statements may close once the application cap on that problem statement is reached. Participation is free of charge.
  4. Each participant can only join one Team. Each team (typically comprising 3 to 8 participants) can submit one proposal for each problem statement. Teams are allowed to apply for more than one problem statement, but they can only be shortlisted for one problem statement.
  5. All participants must agree to the terms and conditions of the G20 TechSprint 2022 and the Technology Provider's platform usage conditions (AFIN APIX) before they can submit their registration.
  6. Teams will retain the title, rights of ownership, or intellectual property rights of any kind regarding the solutions and any related information submitted or developed on the platform in response to the problem statements.
  7. Final submissions from all shortlisted teams will need to be made available to the judging panel via the Technology Provider's hackathon platform. Teams declare and guarantee that:
    • they have all necessary authorisations, permissions, licenses, and agreements to participate in the G20 TechSprint and for all material uploaded to, or developed on the platform;
    • their participation in the G20 TechSprint and their submission of solutions comply with all applicable laws, rules, and regulations.
  8. If the judging panel selects one of the team's solutions as a winning solution, the team agrees to present the solution in a manner and format agreed with the organisers.
  9. By registering for the TechSprint and accepting the terms and conditions, Teams' agree to grant Bank Indonesia, the BIS, and/or the appointed Technology Partner the right to use, distribute to the public, and publicly display the Projects submitted during the Event for the purposes set forth in the G20 TechSprint Terms and Conditions, including the right to publish the Projects on the site and/or on other communication, analogue, digital and paper channels.
  10. The Hackathon will operate in English. All materials and communications submitted in connection with the Hackathon must be in English.

FAQ

Am I eligible?

The G20 TechSprint is targeted at teams from all countries interested in developing technological solutions to address the identified problem statements and who have a proven track record of delivery – whether that is writing software, designing user experiences, or product management. The competition is open to all participants who meet all of the following criteria: i. Fully complete the registration and proposal submission process by the stated deadline w; ii. Are not an employee of the organising organisations (Bank for International Settlements and Bank Indonesia), or any of its subsidiaries, or an immediate family member of any such employee. Participation in the Techsprint is expected in the form of teams (typically comprising 3 - 8 participants). Shortlisted Teams will need to demonstrate that they have a deployable and scalable solution to the identified problem statement by the time of the final judging. If you are under 18 years of age, parental consent is required.

Are there any other requirements?

You will have to agree to the terms and conditions of the G20 TechSprint 2022 and the Event Platform’s user requirements at the point of registration. Participants should also note that the Hackathon will operate in English. All materials and communications submitted in connection with the Hackathon must be in English.

What is the expected deliverable at the end of the G20 TechSprint, and will my team have a chance to deploy the solution?

For this competition, we are seeking production-ready and deployable prototypes. However, there is no commitment or expectation on the part of the organizers that the prototype will be deployed. Winning teams will have the opportunity to showcase their solutions.

Must I be a registered company/firm to participate?

No, teams do not have to be registered companies. Although not a stipulation, we anticipate that most teams will comprise around 3-8 members with minimum of 2 members, performing different functions to develop the working prototypes. Please, note that shortlisted teams would receive a single cash stipend and winning teams will receive a single cash award irrespective of their team's size.

Can I participate in multiple problem statements?

You can form a team to participate in multiple problem statements. However, we recommend that each team only competes in one problem statement and focuses on its strongest area of specialisation. A team can only be shortlisted once, and each participant can only join one team.

How will the winning proposals be selected?

There will be two rounds of evaluation. Proposals will first be reviewed by the BIS Innovation Hub. This is to shortlist the most promising teams to enter into the prototype development phase of the TechSprint. The shortlisted teams would subsequently submit their developed solution prototypes to be assessed by a panel of independent expert judges convened by the Bank Indonesia.

What if I have a good solution for only the optional problem statement(s) but not the main problem statement in the category? Can I still compete?

We welcome all innovative solutions that would best fulfill the requirements laid out in each category. The main problem statement sets out the broader objective of what is being desired, while the optional statements highlight other functionalities that would complement the main problem. Hence, teams should develop solutions that would first address the broader requirement. Any additional functionality that fulfils the optional statements would result in bonus scores being awarded at the time of judging.

How do I register and submit my team's solution proposal (s)

Interested teams should click on the registration tab and complete fully the registration questionnaire before the registration deadline. Teams should also fill in fully the details of their proposed solution (s) in the relevant sections of the questionnaire. If teams wish, they can submit supplementary material relevant to their proposed solution (s) in the attachment section and/or links to short explainer videos. This would be treated as supplementary reference material and reviewed only if the written proposal in the questionnaire is assessed to have sufficient merit.

Contact

For G20 TechSprint 2022 related queries, please reach out to

For technical queries during registration or proposal submission process, please reach out to