Banco Santander will hold the awards ceremony for its global Blockchain challenge in the Decentraland metaverse.
- Santander will hold an awards ceremony in Decentraland.
- It will be my first time in a virtual Blockchain environment.
- The event will award the winners of the ‘Santander X Global Challenge’.
One of the largest banks in Spain, Santander Bank is preparing to hold its first metaverse event.
The financial institution with a presence in several countries around the world, announced this week that it is about to hold an awards ceremony for its challenge. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. in the metaverse ofDecentraland. In a Thursday communiqué the bank said that the awards ceremony for its program Santander X Global Challenge will take place on the decentralized virtual reality platform.
The ceremony, which will be broadcast via streaming will be held on July 14 and it will mark the first time that Santander Bank participates in technology-based virtual environment Blockchain according to the company.
This test is an opportunity for the company to experiment, learn and understand the possibilities offered by this type of platform.
Santander holds an award ceremony in the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.
Santander had launched its challenge in alliance with the Oxentia Foundation with the objective of encouraging innovation and the creation of solutions based on Blockchain . The global challenge attracted startups and blockchain projects around the world, who competed to win 120,000 Euros in prizes and access to Santander X 100 a community of Santander X que ayuda a los emprendimientos a acceder a los recursos que necesitan para crecer.
In his statement this week, Santander announced its 20 finalists: 10 startups y 10 scaleups selected from over 400 projects from 11 countries.
Among those selected are some of the following projects such as Agrotoken an Argentine infrastructure specialized in the tokenization of agri-commodities; and SharpShark , a Chilean venture for intellectual property management. In addition to Argentina and Chile, there are also finalists from countries such as Brazil, USA, UK and Spain.
The final selection was based on the projects’ ability to solve “ relevant issues for society by addressing three challenges: improving the privacy and security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. of users in Blockchain networks, boosting decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance (DeFi) and tokenization. “, he said Santander .
It also took into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ the ability of the solutions to improve aspects such as productivity, employment and the expansion of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. interactions with users through concepts such as Web3 and the metaverse. The three winning startups will each win €10,000, while the three scaleups 90,000 euros will be shared by the winners.
Banks at the forefront Blockchain
Santander is no stranger to the metaverse. At the beginning of this year, real estate developer Metrovacesa which is backed by the Spanish bank, became a partner with Datacasas Proptech to offer the first “hipotecas metaversas“of Spain. The banking entity has also shown interest in Web 3 and metaverse in some publications recent educational updates from your website.
Also, in the past, Santander has emerged as an early adopter of blockchain technology. In 2019, it was one of the first banks to push for the issuance of a tokenized bond on the public blockchain of Ethereum a decentralized open-source blockchain with smart contracts functionality. .
Santander is not the first traditional institution to seek to be on the cutting edge of technology. Several major banks have begun to explore the metaverse. as the concept captures the attention of consumers and businesses around the world. In February this year, the Wall Street giant, JPMorgan announced the opening of a salon in the virtual world of Decentraland . The bank HSBC followed the steps shortly after, in March, after debuting in the metaverse of The Sandbox.
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Article by Hannah Estefania Perez / DiarioBitcoin
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