Mumbai, July 27 (IANS) Global professional services provider EY on Thursday announced the launch of first “EY Hackathon” in India focused on “Blockchain” technology.

The initiative, which aims to engage India’s growing technology talent and developer community to address critical issues faced by businesses, will invite ideators, inventors and developers to collaborate and create marketable solutions leveraging “Blockchain” technology.

The hackathon, which is being organised in association with tech company Zone Startups in Mumbai, will begin on July 28 and conclude on July 30.

“The rapid advancement of disruptive technologies today presents businesses of all scales with serious digitisation challenges and also new opportunities,” said Farokh Balsara, Partner & Markets Leader, Ernst & Young India, in a statement.

“The EY Hackathon series will engage the large pool of developers and technology talent in the country in an attempt to develop solutions that can make a difference as we strive to build a better working world,” he added.

The participants will be provided with a suite of technology tools and Cloud platform by tech giants IBM and Microsoft to aid their problem solving process.

“The EY Hackathon on ‘Blockchain’ is an effort to realise the true potential of ‘Blockchain’ technology, re-imagine the limiting factors and develop applications that can re-shape the contours of our clients’ businesses,” said Ram Sarvepalli, Partner and National Leader, Advisory Services, EY India.

As part of the initiative, EY also unveiled its “Blockchain Lab” in New York, aimed at helping financial organisations commercialise the use of the technology.

EY has a similar innovation centre in Trivandrum, India, that directs research and innovation in Blockchain apart from other disruptive technologies like Internet of Things (IoT) and Artificial Intelligence (AI).

This is published unedited from the IANS feed.