Team Audify from the Federal University of Technology, Akure, (FUTA) has emerged winner of the 2019 Blockchain Hackathon competition among students of Nigerian Universities.
The competition held between 25th and 26th September, 2019 at the auditorium of Nile University, Abuja.
The participating teams proffered blockchain-based solution to a pressing societal problem.
Team Audify comprised Alabi Taiwo and Adebayo Oluwatosin of Department of Cyber Security, Fabusuyi Ayodeji of Computer Science and Akinnusotu Temitayo of Information Technology department came up with a digital solution built on Ethereum Blockchain to provide a secured, efficient, cheaper and faster automated financial auditing system.
This system is designed to curb sharp/corrupt practices in financial auditing. Blockchain is an IT solution that thrives on the fidelity and credibility of its process and it is increasingly being deployed in ICT accounting and auditing solution.
The panel of judges that announced the result of the competition comprised the Director General of the National Information Technology Development Agency (NITDA), the President of the Cryptography Development Initiative of Nigeria (CDIN), the Chairman of the Blockchain Industry Association of Nigeria (BIAN) and top executives from Jellurida Africa, Oracle Nigeria and IBM Nigeria.
The President of CDIN, Mr Adeolu Fadele announced the final result on behalf of the judges with FUTA coming 1st, Covenant University, Ota, 2nd and Ahmadu Bello University, Zaria, 3rd.
Team Audify got a trophy, plaque for coming first while FUTA will enjoy technical support from the organisers as a result of the victory of its students in the competition.
The team attended the competition with Omole-Adebomi Steve and Uzoatu Bryan of Cyber Security and Adegbesan Gideon of Computer Science as campus blockchain community student coordinators and Mr. Oluyomi Akinyokun of Cyber Security department as the Coordinating staff.
Dr Mrs. Adenike Acting Head of Department of Cyber Security, Thompson, is the technical adviser to the team.
The FUTA Vice Chancellor, Professor Joseph Fuwape has commended the effort of the students in making the university proud.
He appreciated the Dean of School of Computing, Professor Sunday Adewale, the Heads of the participating departments and staff and students of the new school for not relenting in uplifting the university.
He said with the cutting edge research and scholarship in ICT going on in FUTA hope is rising for the nation to further tackle crime through effective use of cyber security and Information Technology.