Bank of England Launches Blockchain Idea Prize Program

The Bank of England has launched a prize program that requires entrants to pitch ideas about blockchain-powered applications. Winners will be awarded with a paid internship at the bank or a potential placement at their graduate assessment center. Applicants may apply individually, or in a team of up to six, and have until the 7th of December to submit their proposals.

The Bank is looking for creative ideas about how distributed ledgers – the technology powering Bitcoin – can be applied in creative ways that will benefit the people of the United Kingdom.

“So tell us how you’d make society better for people in the UK by coming up with an idea that has Blockchain’s distributed ledger technology at its heart. Think big. Be creative. And showcase the skills you could bring to our Projects, Data and Technology teams.”

Applicants aren’t just asked to pitch simple ideas, but are also required to present detailed explanations on overcoming technical barriers, cost estimates and practical hurdles. Entrants are given several choices on entry format: video, text and PowerPoint presentations are allowed.

The winner will be invited to visit the Bank of England and meet the some of the tech staff behind the program, as well as six-week internship:

“You’ll win a six-week paid internship if you’re in your first, second or penultimate year of study.”

 

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