PayID, the Universal Payment Identifier meant to simplify the process of sending and receiving money globally across any payment network and any currency, concluded its first Hackathon, announcing 10 winners solving real-world problems using PayID.
After the first PayID Developer Conference on June 25, 2020, Ripple kicked off a six-week-long $25K+ virtual hackathon on Devpost in order to continue the momentum and drive further engagement of the PayID developer community.
360 developers from all over the world registered to participate in the PayID Hackathon, and in the end, over 40 projects were submitted. On Wednesday, Xpring announced the top 10 finalists, who advanced to demonstrate their projects, during the PayID Hackathon Awards Ceremony.
Each team was given 5-minutes to demo and field questions from the judges, which included Ripple executives David Schwartz, CTO of Ripple, and Ethan Beard, SVP of Xpring.
7 Honorable Mentions were named, of which each team will receive $500 in XRP:
Brisk ID – allows anyone with a mobile phone to easily create and manage a PayID.
Verified PayID – decentralized saved identities assigned to PayID. Instapay – the fastest, easiest payment app for all financial transactions using PayID.
XND – a non-custodial wallet that can perform cross-chain transfers directly to a PayID.
Ripay – send XRP to more than a billion people in your favorite messaging apps like Telegram, Discord, Matrix, Slack using PayID.
Xpayments.me – a central gateway for cryptocurrency payment information, powered by PayID.
Upay – get paid for your online services by anyone anywhere in the world using PayID.
In 3rd place, winning $2,500 in XRP, Unisend built an app to connect a bank account and send money internationally for free using PayID on XRP Ledger.
In 2nd place, winning $5,000 in XRP, 0Games built a peer-to-peer 0% fee video game crypto-marketplace using PayID.
In 1st place, for the grand prize of $15,000 in XRP, PayID Validator built a developer tool for performing checks to validate PayID response headers.
PayID was launched in June by the Open Payments Coalition, consisting of leading technology, finance, and nonprofit companies, and lead by Ripple.
It is designed for any business that sends or receives money, banks, payment providers or processors, digital wallets, or remittance providers. Implementing PayID is simple, and makes it possible for companies to access more networks, consumers, and currencies to expand their businesses globally.
PayID was built for all – it’s open-source, free, and simple to integrate with the security and privacy that everyone from large financial institutions and global nonprofits, to ride-hailing apps and neobanks require. In addition, it provides an end-to-end Travel Rule compliance solution for satisfying both FinCEN requirements and FATF recommendations.
PayID enhances RippleNet, Ripple’s global payment network. RippleNet is integrating PayID to bring further interoperability into cross-border payments. The mission and work of the Coalition aligns with Ripple’s founding vision—enabling the world to move value like it moves information today, a concept known as the Internet of Value (IoV).
RippleNet and RippleNet’s On-Demand Liquidity (ODL) service, combined with the power of the Open Payments Coalition’s efforts, are transforming global payments for everyone, everywhere.