Despite the dire economic situation and maybe because of it, many startups are turning towards solutions built on blockchain and crypto. Lebanon has become one of the leading countries in MENA region for crypto mining, and crypto trading. Recently, the American University of Beirut witnessed a 48 hour Blockchain Crypto Hackathon which culminated in the success of four Lebanese startups offering innovative crypto blockchain solutions.

Organized by the Darwazah Center for Innovation Management & Entrepreneurship (DC) at the Olayan School of Business (OSB) within th American University of Beirut (AUB) in partnership i-Park and Beirut Digital District, four Lebanese crypto blockchain startups were announced as winners. 

First prize went to CrypLock, which is working to bring trustless operations to cover over the counter crypto transactions via a digital escrow. The second Prize went to Cash2Coin, which is working to make crypto transaction as easy as ATM operations via stablecoins. In Third place came Walleti, which seeks to increase mass market adoption of Crypto through pre-paid crypto scratch cards and applications. Finally in Fourth place came D-Bank, which seeks to enhance SME (Small to Medium Size Enterprise) reputation using blockchain.

Prizes ranged from 15,000 USD to 5,000 USD offered by leading Blockchain platforms such as Avalanche, NYM Technologies, and L1 Digital. Speakers at the event included John Nahas, VP Business Development for Ava Labs, Harry Halpin, CEO of blockchain privacy startup Nym, Ray Hindi, CEO/CIO and co-founder of L1 Digital, Cyrus Azad, Vice President of Business Development at Digital Transit, Charbel Ghossan, the founder and CEO of Digital Transit, Abdulwahab Alzuaby, the CTO of Arcadous and Rafic Farra, the founder of Walleti & Coinsultancy.

Amir Taaki, Founder of Agora DeFi movement, a well-known programmer who rewrote a portion of the Bitcoin code made the closing remarks at the event. In his speech he made a call to action for DeFi