In a vibrant showcase of Fintech innovation, aelf proudly took center stage as a platinum sponsor for the NUS Fintech Summit 2024 where we sponsored a Hackathon track price. In collaboration with NUS Asian Institute of Digital Finance (AIDF) and NUS FinTech Lab, the summit unfolded from December 20, 2023, to January 19, 2024, and saw the birth of 37 projects, 44 hackathon teams and 639 participants. From an exhilarating hackathon with a $40,000 prize pool to insightful workshops and panel discussions hosted by industry leaders, the event served as a dynamic platform for tertiary students to gain valuable perspectives on the ever-evolving Fintech landscape. Let's relive the aelf highlights of this month-long event of innovation and knowledge exchange!

Kicking off NUS Fintech Summit 2024

what is aelf — *NUS Fintech Summit 2024 — Ideathon Kick-off Virtual Event*

On December 20th, we kicked off the NUS Fintech Summit 2024 with a virtual sharing to introduce participants to aelf, our problem statement and how to ace the ideathon. Participants were excited and had a keen interest in asking questions about the judging criteria and how they can value add to the aelf ecosystem.

NUS Fintech Summit Blockchain Track Ideathon - aelf — *NUS Fintech Summit — aelf’s problem statement for the Hackathon*

Our problem statement "What kind of enterprise solutions/products can we build on aelf to make it more user-friendly for the masses?" searches for solutions that have a strong enterprise value proposition with an intuitive retail user experience. By January 1, we saw 7 project submissions that covered a range of industries such as supply chain management, tourism and retail.

Where Ideas Grow and the Real Hacking Begins

Opening Ceremony

On January 5, the opening ceremony of NUS Fintech Summit 2024 was held and it set the stage for an exciting and innovative gathering of Fintech enthusiasts. The ceremony began with a recap on the hackathon track categories, each one representing a unique challenge in the world of financial technology. Following the introduction of the track categories, an aelf Q&A session was held with the participants, allowing them to ask questions and gain insights about our problem statement and what we are looking out for. This interactive session fostered engagement and collaboration, setting the tone for a dynamic and productive hackathon.

aelfinity Developer Workshop

In the afternoon, we held our aelfinity Developer Workshop which was led by Steven Deng, the CTO of Portkey. The workshop offered a comprehensive dive into the evolving world of Web3, presenting participants with a valuable opportunity to expand their knowledge and skills in this cutting-edge domain. Key topics included an in-depth exploration of NFT and token creation on the aelf blockchain, writing a smart contract and integrating the Portkey into Decentralised Applications (DApps). This combination of theoretical knowledge and practical application made the workshop an invaluable experience for those looking to delve deeper into the Web3 space. With this newfound knowledge, the 6 teams who participated in the ideathon under the aelf track continued to work on their prototypes and submitted their final prototypes by 11 Jan.

Knowledge Sharing and Putting Concepts into Practice

Workshop Day

*“A Decentralised World for Tomorrow” Seminar led by Leong Han Wai, aelf’s BD Manager*

On January 12, we held a seminar titled "A Decentralised World for Tomorrow," led by Leong Han Wai, aelf's Business Development Manager. The seminar began with an introduction to the decentralised world, laying a solid foundation for understanding its potential impact and benefits. We then went into the session's focus, which was how to bridge the gap for mass adoption of decentralised technologies. This included strategies for enabling enterprises to integrate blockchain into their operations through side chains, empowering users through seamless user experience, and equipping developers with the necessary skills and tools to build.

Hacker House

During the Hacker House on January 17, our tech team provided 1:1 support to the shortlisted 4 projects, guiding them through any development or integration issues faced. Most of the teams had already refined their prototypes and were working on introducing new features into their product as they geared up for Demo Day.

Presenting Ideas and Championing the Rise of Fintech

Demo Day

At the last stage of the NUS Fintech Summit 2024, brilliant minds and expectant hearts filled a convention room at Suntec City on January 19 for the much-awaited Demo Day. The top 4 teams took turns presenting their products – all eager to emerge as champion for aelf's hackathon track.

*Panel of judges for the aelf track at the NUS Fintech Summit Hackathon*

The hackathon judging for the aelf track was done by Steven Deng, CTO of Portkey, Hazel Zhang, Head of Investment, and Linda Ang, Head of Strategy.

*Chain Champ team presenting their ideas*

The first team, Ghost Club, shared their project GEO, a decentralised "travel-to-earn" platform, that uses Decentralised Identifiers (DIDs) and NFTs for community building and earning rewards. The second team, Turning Red, presented a blockchain-based solution that maintains transparent and secure data for supply chains. The third team, Blockchain Buddies, ran the judges through TrustChain Lite which centred on ensuring the authenticity of products through NFTs. Finally, the last team, Chain Champ presented their blockchain-based loyalty program designed to revolutionise customer engagement and retention for FMCG companies.

aelf Booth at Career Day

NUS Fintech Summit 2024 - aelf booth — *aelf Booth at Career Day held in conjunction with the NUS Fintech Summit*

At the Career Day booth, the aelf team took the opportunity to introduce attendees to the cutting-edge blockchain technology that aelf offers and highlighted its unique features and potential to revolutionise the blockchain industry. For undergraduates, we extended an opportunity for them to join the aelf Ambassador Network Program as well as to apply for a variety of open internship positions available. Visit our LinkedIn page for more open roles.

Winner announcement

aelf - Winner of NUS Fintech Summit 2024 — *From left to right: Turning Red team (2nd runner-up), Chain Champ (Champion) and Blockchain Buddies (1st runner-up)*

After careful consideration by our 3 judges, Steven, Linda and Hazel, Chain Champ emerged as champion, clinching the Grand Prize of SGD 5,000. The project was praised for their innovative solution, enthusiasm, and being able to efficiently bring their ideas to life through their prototype and live demo. The first runner-up, Blockchain Buddies, had also impressed the judges with their NFT-based inventory tracking solution while the second runner-up, Turning Red, came close with their supply chain blockchain solution.

Concluding aelf's First Developer Event for 2024

The NUS Fintech Summit 2024 was a resounding success, showcasing the vibrant potential and innovative spirit of the Fintech sector. Our involvement in hosting one of the hackathon tracks was a highlight, providing a platform for creative minds to converge and develop groundbreaking solutions. The developer workshops we conducted were equally impactful, offering valuable learning opportunities and fostering a community of knowledge-sharing among participants. Our role in judging projects at demo day was both an honour and a responsibility, as we witnessed firsthand the remarkable talent and ingenuity on display. The recruitment booth we set up proved to be a fruitful endeavour, attracting a plethora of skilled individuals eager to contribute to the Fintech ecosystem. The event's culmination was the much-anticipated announcement and awarding of the top three winners of the aelf track in the hackathon. This moment not only celebrated the exceptional achievements of the winners, but also underscored the importance of innovation, collaboration, and excellence in driving the Fintech industry forward. The summit left us inspired and eager to continue playing an integral role in shaping the future of blockchain and Fintech!

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*Disclaimer: The information provided on this blog does not constitute investment advice, financial advice, trading advice, or any other form of professional advice. aelf makes no guarantees or warranties about the accuracy, completeness, or timeliness of the information on this blog. You should not make any investment decisions based solely on the information provided on this blog. You should always consult with a qualified financial or legal advisor before making any investment decisions.

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About aelf

aelf, the pioneer Layer 1 blockchain, features modular systems, parallel processing, cloud-native architecture, and multi-sidechain technology for unlimited scalability. Founded in 2017 with its global hub based in Singapore, aelf is the first in the industry to lead Asia in evolving blockchain with state-of-the-art AI integration, transforming blockchain into a smarter and self-evolving ecosystem.

aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its Layer 1 blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3, blockchain and the adoption of AI technology.

Find out more about aelf and stay connected with our community:

Website | X | Telegram | Discord

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Tool/Platform	What's it about
ChainGPT	An AI-powered assistant for the blockchain and crypto industry, specializing in content creation, language translation, smart contract coding, and more.
aelf	A high-performance, customisable multi-chain blockchain framework with AI-powered smart contracts and a developer-friendly environment.
Quick Intel	An AI-powered crypto security platform that helps investors avoid scams, rug pulls, and honeypots by analysing smart contracts, social sentiment, and on-chain data.
Cogwise AI News Aggregator	An AI-powered news aggregator that analyses real-time news and global trends to predict market movements in the crypto market.
OpenAI Codex	An AI system that transforms natural language into code, automating code creation for smart contracts, blockchain applications, and other development tasks.
QnA3	An AI-powered Web3 knowledge hub that provides real-time information and insights on cryptocurrencies, blockchain projects, and the broader Web3 ecosystem, with unique Solana Actions integrations.
Fetch.ai	A platform that combines AI and blockchain to create autonomous economic agents (AEAs) for various applications, including supply chain optimisation and smart city management.
Octavia	A decentralised digital identity (DID) platform for creating and managing self-sovereign digital identities, empowering users to control their data and online presence.
TensorFlow	A versatile open-source machine learning framework used for building AI models that can analyse blockchain data, enhance security, and predict market trends.
Alethea	A platform that creates 'Intelligent NFTs' (iNFTs) with unique personalities and the ability to engage in conversations, powered by AI and blockchain technology.

Chain	URL	Explorer
AELF	https://aelf-test-node.aelf.io/	https://explorer-test.aelf.io/
tDVW	https://tdvw-test-node.aelf.io/	https://explorer-test-side02.aelf.io/

Feature	Description
Inheritance	ERC-404 inherits from the interfaces IERC-404, IERC721 Receiver, and IERC165, implementing functions specified in these interfaces, behaving as both ERC20 and ERC721.
Data Structures	Mappings track balances, allowances, approvals, and ownership of tokens. Double-ended queue stores ERC721 token IDs. Data for managing ownership and indices of ERC721 tokens.
Constructor	Initialises token name, symbol, decimals, and other necessary variables for ERC20 and ERC721 tokens.
Token Minting and Burning	_mintERC20 function for minting ERC20 tokens. _retrieveOrMintERC721 function for minting ERC721 tokens and retrieving from a bank. _withdrawAndStoreERC721 function for depositing ERC721 tokens into the bank.
Transfers	Functions for transferring ERC20 and ERC271 tokens between addresses. Distinguishes between token types based on ID. _transferERC20WithERC721 function handles transfers involving both types.
ERC20 and ERC721 Interactions	Approve function handles approvals for both token types. Functions like transferFrom, safeTransferFrom, and permit handle transfers and approvals.
EIP-2612 Support	Supports EIP-2612 permit functionality for ERC20 tokens.
Interface Compatibility	Implements necessary functions for ERC-404 and ERC165 interfaces, indicating compatibility with ERC20 and ERC721 standards.

Role	Max Number
BP	2N+1, N starts from 8 in 2022
Candidate node	5*(2N+1)
Voter	No limit

Benefits	Description
Makes smart contracts 'smarter'	AI-driven smart contracts can autonomously modify terms based on predefined conditions and real-time data input, ensuring that the contracts are not just automated but also intelligent and self-improving over time.
Levelled up data analysis	Data is the new oil, and AI is the machinery that refines it. It is possible for AI to reduce large-volume blockchain data analysis time by up to 90%.
Boosts security	Through machine learning models, AI can prevent frauds and detect security threats in real time. It can identify potential breaches, predict future threats, and adapt to evolving security measures.
Lowers carbon footprint	AI algorithms help optimise energy consumption in blockchain operations, given the flak drawn by activities like Bitcoin mining.

Recap: aelf at NUS Fintech Summit 2024