With an aim to help the young population of the country adapt to new technologies the Department of Information and Technology recently launched the second edition of a three-day long Blockchain Olympiad.
State Minister for Information Technology Zunaid Ahmed Palak inaugurated the 'Blockchain Olympiad Bangladesh-2021' at Bangabandhu International Conference Center on Thursday. The competition will run till 27 February.
256 teams from 70 universities across the country applied to participate in the Olympiad and 40 teams were selected for the final round considering the quality of the blockchain project.
The main event of the Olypmiad—the international competition— will be held from 2 July to 4 July at the same venue. Competitors from more than 50 countries including Bangladesh will take part in it.
Organisers of the competition said forgery of certificates, forgery of land deeds, irregularities in employment are not possible in blockchain technology. This technology will also make money transactions easier.
They also said it is possible to put a stop to all kinds of corruption by using this technology.
Addressing the inauguration ceremony, Palak said blockchain technology has the potential to change the world. Through this it is possible to bring 100% certainty, transparency and accountability of information.
"If we can't deliver blockchain technology along with disruptive technology to our youth, we will fall behind in the Fourth Industrial Revolution competition," he said.
The state minister said it is possible to reduce the cost of bringing remittances to Bangladesh, which 10 million expatriates sends from outside the country, using blockchain technology.
Palak also said, "So far, we have been able to digitalise 3500 land offices of 492 upazilas under a project of the ICT department."
"We can also try and change the digital systems that are currently being used. But if we use the blockchain method, it will be possible to further ensure the security of stored information."
The inaugural ceremony was presided over by Parthapratim Deb, executive director, Bangladesh Computer Council. Dr Mohammad Kaikobad, former professor at Buet and convener of Blockchain Olympiad Bangladesh (BCOLBD), Habibullah N Karim, Coordinator of BCOLBD, Prof Dr Muhammad Zafar Iqbal, Mahfuzul Haque, CEO of FBCCI also spoke at the event.
Blockchain technology has created a new kind of Internet— digitally distributing information (not copying). Although blockchain was invented only for digital currency Bitcoin, now the potential is being exploited in various fields of technology.
One or more individuals or groups under the pseudonym 'Satoshi Nakamato' are the inventors of blockchain. This technology has evolved a lot since the release of Bitcoin software in 2009.