THXNET Concludes the Year with a Hackathon in Japan with

TOKYO, JAPAN, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Japan-based Blockchain Hybrid Infrastructure pioneer, THXNET., a product of THXLAB has marked the culmination of 2023 by playing a pivotal role in the Fourth KOSEN Intercollege Challenge. This hackathon has become a symbol of THXNET.'s commitment to spearheading the integration of Web3 technologies in Japan.

The fourth KOSEN Intercollege Challenge, a trailblazing competition that assembles students from the National Institutes of Technology (KOSEN) to address real-world corporate challenges, has reached a successful conclusion. The collaborative effort by SMBC Nikko Securities Inc., NYK Line, and BANQ Corporation witnessed an unprecedented fusion of youthful innovation and advanced technology.

The event kicked off on October 22, 2023 and was held entirely online, under the auspices of the National Institute of Technology. This year's competition saw a record turnout with 26 aspiring technologists across eight teams from diverse KOSEN, who brainstormed and competed with zeal, under the mentorship of business experts and KOSEN alumni.

At the heart of this year's challenge was the THXNET. blockchain infrastructure, presented by BANQ Corporation as the pivotal technology enabling the competitors to tackle nine complex issues presented by the NYK Group. The focus areas included enhancing operational efficiency, revitalizing human resources strategies, and expanding business horizons.

The grand finale was a display of intellectual prowess and imaginative proposals by the students, judged by a panel of NYK employees. The students brought to the table high-caliber ideas that painted vivid pictures of future products and services, all pivoting around the capabilities provided by THXNET.

The top honor was awarded to "VESSELS VIEW," a dynamic map application that harnesses beacon technology to pinpoint item locations on board, thereby streamlining the handover process for crew members by improving the efficiency of inspection tasks during crew changeovers. This innovation was the brainchild of a team of students from KOSEN in Akita, Ishikawa, Niihama, and Hiroshima, who stood out for their use of THXNET to enhance maritime operations.

The NYK Challenge Award for original ideas was presented to a team of students from KOSEN in Tomakomai, Hachinohe, and Toyama who proposed "Ship Quest," an application that allows users to earn ship miles in proportion to the distance their online purchases are transported by ship. The idea was to include elements of Web3 with the opportunity to earn award drawings and one-of-a-kind digital content (NFT), [2] such as views from the ship, depending on the number of miles.

SMBC Nikko Securities will continue to support KOSEN with unique technical education curricula that are community-based and highly specialized while deepening cooperation with KOSEN and its graduates. NYK will further accelerate the creation of new businesses and industry-academia collaboration. BANQ will realize a world where services and users can easily enjoy the benefits of Web3 as a Japan-originated Web3-aaS.[3]

[1] Higher educational institutions that aim to train practical and creative engineer

National Institute of Technology (NIT, KOSEN), Japan : https://www.kosen-k.go.jp/english/

[2] Abbreviation for Non-Fungible Token. Refers to a non-substitutional token that can be proven to be the "one and only real thing" using blockchain technology.

[3] Abbreviation for Web3-as-a-Service, the first service in Japan that provides Web3-ization in a SaaS model.

SMBC Nikko Securities Inc.

Representative: Yuichiro Kondo, President & CEO

Headquarters: Tokyo

Business: Securities

Website: https://www.smbcnikko.co.jp/en/

NYK Line

Representative: Takaya Soga, President

Headquarters: Tokyo

Business: Liner & Logistics, Bulkship, Other

Website: https://www.nyk.com/english/

BANQ Corporation