Barclays Announced Hackathon named “Barclays Derivhack 2018”
The British bank Barclays announced a two-day hackathon called “Barclays DerivHack 2018” in order to find the best solutions based on the blockchain to improve the efficiency of processing derivative contracts.
The event is sponsored by such companies as Deloitte Touche Tohmatsu Limited, International Swaps and Derivatives Association – a trading organization of OTC derivatives market participants and Thomson Reuters.
The event will provide an opportunity for market participants throughout the industry to encode and demonstrate innovative solutions using new technologies such as Blockchain and DLT.
The Common Domain Model of the International Swaps and Derivatives Association will provide a standard digital view of events and actions that occur during the duration of a derivative trade. Barclays will set challenging use cases to simulate the derivatives market and will provide sample trade data Common Domain Model of the International Swaps and Derivatives Association representation to implement them.
The event will be held for two days in the buildings of Barclays Rise in London and New York on September 20 and 21. A panel of independent judges drawn from the industry, academia and public sector will judge the feasibility and effectiveness of proposed solutions and prizes will be awarded.