RMIT students showcase their talents in a global blockchain competition

RMIT students showcase their talents in a global blockchain competition

With social impact front of mind, a strong proposal to support impoverished people translated into a Merit Award for five RMIT University students at a recent international blockchain competition.

The proposal from the first and second-year students used blockchain and an artificial intelligence (AI) application on health microinsurance products to improve healthcare service access for vulnerable people.

“We applied blockchain and smart contract to store and process all essential patient data in order to access traceable customer information, validate hospital medical records, confirm their identity and financial status with other stakeholders through multiple verification platforms, and also automated insurance claims and quotes. These features were designed to help the poor reduce their health care costs through microinsurance technology,” said the team leader and Bachelor of Business (Economics and Finance) student Mai Hoang My Hao. 

“There is only 0.09% of health microinsurance access in Vietnam and below 30% in other countries around the word,” Hao added.

“Therefore, we come up with the HebiLife application which aims at helping the low-income population gain better access to health microinsurance.”

news-1-rmit-students-showcase-their-talents-in-a-global-blockchain-competition With diverse backgrounds from business, technology and IT, the winning RMIT student team included (from left to right) Huynh Minh Tuan, Vo Tran Truong Duy, Mai Hoang My Hao, Bui Duc Huy and Mai Hoang Ngoc Han.

The event organiser and Secretary General of the Hong Kong Blockchain Society Mr Gabriel Chan said the RMIT team presented a strong, socially responsible case.

The co-founder of RMIT FinTech Club and Bachelor of Business (Economics and Finance) student Mai Hoang Ngoc Han recalled the challenging time that the team was working hard to prepare the whitepaper and presentation to the judges who are technology experts. 

“The most difficult part was that we all had very basic knowledge about blockchain, so it felt really rewarding to be selected in the top three teams in Vietnam.

From there, we competed against 60 teams of not only students, but also experienced business and technology practitioners from over 15 countries from North America, Asia-Pacific, Europe, Middle East and Africa.”

The students described participating in this case competition as a valuable learning and international networking experience because it exposed them to real-life industry situations and further skills development.

“We had a chance to build networks with people from all around the globe who are very talented and running their own blockchain startups,” said Bachelor of Information Technology student Bui Duc Huy. 

“We also built and reinforced our confidence and debating skills to make our projects better and more applicable, and gain both technology and financial knowledge about blockchain.” 

RMIT Acting Senior Program Manager, Finance Dr Nguyen Thanh Binh said gaining international experience is a positive way to foster smart learners in the twenty-first century.  

“At RMIT, we focus on providing educational opportunities to support our students’ work and life making them ready for a future that will be shaped by digital disruptions” said Dr Binh, who mentored the team.

This year was the first time teams from Vietnam participated in the annual International Blockchain Olympiad, which gathered global blockchain and young talents around the world to solve real-world problems.

Story: Thuy Le

10 August 2020

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