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April 11, 2023

DecentralHacks 2021 & The Road to Metamorphosis 3.0

Decentral Hacks

Imagine if you could go back and make something online before the Internet blew up.

Blockchain is complicated, but it’s simple to see why it’s worth talking about. Think about it like this: people used to send letters to communicate long-distance; now video calls are free. Necessity is the mother of invention, and as the need for better communication grew, so did our technology.

The needs of our economy are expanding.

In the 1960s, General Motors was the world’s largest company, consistently reporting annual revenues of over $10 billion. Walmart, which has topped the Fortune 500 list since 2014, reports annual revenues nearly 60 times greater. Today’s financial infrastructure is shaking under the weight of our global economy, but blockchain could help distribute the load.

With industries like fintech, big data, and artificial intelligence pushing the boundaries of what technology can accomplish, the concept of a digital resource having real-world value has taken shape, and we want you to be a part of it. Today’s tech giants were the underdogs of the 90s, and we want to let the dogs out.

Massive organizations have collaborated for you to read this text, but they all rely on the same underlying infrastructure – the Internet. Blockchain represents an Internet of Value, enabling anyone to build financial services applications without setting up the expensive underlying infrastructure. Modern financial institutions bear this cost of starting from scratch, but by giving them a common framework to rely on, sending money globally can become as simple as sending a message.

Distributed Tasks; Collaborated Efforts

At Octaloop, we’re all about bringing the community together. Since 2013, when our founder Anupam Varshney discovered Bitcoin by trading with an anonymous user on Reddit, we’ve dedicated ourselves to conducting meetups, hosting events, and educating people about blockchain. With Bitcoin settling in at around $50,000, early investors certainly made a pretty penny, but tomorrow’s biggest benefactors of blockchain are the early adopters of today.

When it comes to the most advanced technologies in the world, the ones who benefit most are seldom the ones that build them. Developers create and maintain software, but the ones who profit most are still seed investors. Blockchain runs on a decentralized infrastructure, meaning everyone plays a role in maintaining the network, and everyone benefits according to the importance of that role.

For instance, many projects set aside a chunk of their token supply to fund long-term development, and developers tend to maintain sizeable investment positions in projects they work on. This creates a clear incentive for developers to create better systems and applications – if the project does well, so does their portfolio.

DecentralHacks is an opportunity for anyone – even novice developers – to take their first steps into the world of blockchain development. Between September 13 and October 1, participants will have the chance to interact with some of the most experienced developers in the industry, giving them a better understanding of what it takes to develop for blockchain, and some guidance on how to get there.

If you’re looking for more of a discussion, we’re also conducting The Road to Metamorphosis 3.0, a virtual summit with talks from some of the most influential people in the cryptocurrency space. Networking is essential, and this is where it happens. Bring your ideas to the table and see what people think.

Block by Block

Blockchain is a cumulative global effort by millions of people from different backgrounds, and DecentralHacks is all about promoting more collaboration. Centuries later, when humanity looks back on the most important events of the past, the advent of the Internet and blockchain technology will likely be weighed as equals.

Blockchain developers earn three times more than developers in other fields with the same amount of experience. Less than 1% of all developers work with blockchain technology today, and with demand accelerating faster than the supply, learning to work with decentralized networks is a skill that will appreciate over time.

Before the Crypto Wars of the 1990s, encryption technology wasn’t allowed to be used by civilians. Today, we have end-to-end encrypted messaging platforms. Technology takes time to change, but it changes drastically. Blockchain is one such technology on the cusp of introducing drastic change, and with the entire space still very much in its infancy, we want you to help it grow.

The biggest companies today rely on the Internet to run their businesses, comminate with their customers, and enable their teams to collaborate remotely. There are a seemingly infinite number of applications for the Internet, and that’s where blockchain is headed.

The past is behind us, but we can build for the future. There are all kinds of characters in the story of how blockchain grows to dominate the financial services arena, and we want you to be one of them. The most influential companies of the future will rely on blockchain technology to run their businesses; all that’s left to do is create. So fire up a code window, and build for the future of money.

Also Read: 4 Brilliant Blockchain Ideas from the DecentralHacks Hackathon