Chainlink Introduces the Social Impact Prize

On the 1st of March, Chainlink introduced the Social Impact Prize Category for the Spring 2021 Chainlink Hackathon.

This addition to the Spring 2021 Chainlink Hackathon is helping to fulfill Chainlink’s goal of creating an economically fair world through the use of smart contracts and blockchain technology. The platform wishes to use smart contract innovations and other technological means to make tangible improvements in the everyday lives of people around the world.

Partnering With UNESCO

For the Spring 2021 Chainlink Hackathon, Chainlink introduced the Social Impact Prize category. Chainlink partnered with the UNESCO Global Education Coalition to develop this new category. As part of its #LearningNeverStops initiative, UNESCO’s Global Education Coalition supports the new Social Impact Prize category for the hackathon, which runs from March 15 through April 11.

Early this year, the platform officially joined the Global Education Coalition, and the Chainlink Grant program is sponsoring the prize to show its commitment towards the Coalition. This Social Impact Prize award will motivate developers to build smart contracts that will greatly impact humanity in numerous positive ways.

About the Social Impact Prize Category

The Social Impact Prize category is geared towards the creation of “universally connected smart contracts” that will positively impact people in various ways, such as granting people access to new socio-economic opportunities through the use of DeFi products or using NFTs to gamify online education.

The Social Impact Prize of $5,000 will be delivered to the hackathon project that has the highest potential to deliver social impact. Project submissions have to include the integration of Chainlink in linking their smart contracts to external inputs and be useful to the education sector.

Ideas for Submission in the Social Impact Prize Category

The platform has provided a number of ideas that can be submitted to the category for review. Such ideas may include using Chainlink VRF to power dynamic NFTs to gamify and incentivize education. Such NFTs could help to support life-long learning and reduce the rate of school dropouts.

Ideas may also include the use of Chainlink’s Price Feed to create DeFi solutions that will increase financial access in emerging markets. Participants can also present ideas that leverage on Chainlink External Adapters to build IoT-based projects that will link smart contracts to real-world sensors.

Another idea the platform has posted for possible submission features the on-chain recording of educational certificates for both formal university and skills-based courses.

Chainlink further encourages developers to be creative in their ideas and to work towards software that has a broader impact on the world. The platform especially wants solutions that positively impact emerging markets and vulnerable populations. In line with bridging the gender divide, Chainlink also encourages female developers to participate in the hackathon.

Before now, Chainlink announced that Aavegotchi will use its Verifiable Randomness Function (VRF), which is live on Polygon (formerly Matic Network).

LINK Price

As of the time of writing, LINK price was $29.18, with a 24-hour trading volume of $2,085,364,204. LINK price also fell by 5.5% over the last 24 hours. Besides, it has a circulating supply of 410 million coins and a max supply of 1 billion. Binance is also the current most active market trading LINK.

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