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Illinois Institute of Technology Wins Grainger Computing Innov

 


Image: 2022 Grainger Computing Innovation Prize 1st place team StarPay: Andr Guardia (PHYS, BS PHYS 4th year), Jorge Plascencia (AE, BS AE 2nd year), Rishabh Tyagi (CS, BS CS 4th year), David Singer (ITM, BS ITM 4th year).see more

Credit: Illinois Institute of Technology

CHICAGO – The 2nd annual Grainger Computing Innovation Prize honors a team of student innovators at the Illinois Institute of Technology for inventing a cross-compatible, easy-to-use stablecoin payment solution that will benefit millions of Mexican bank accounts. Awarded for closing the financial access gap for those without The winning team, dubbed StarPay, was announced as the $15,000 winner at a finals event judged live by a panel of technical experts in Chicago.

The five finalist teams pitched their prototypes to an acclaimed panel of judges, the Illinois Tech Community, and invited guests as part of the Grainger Computing Innovation Prize Finals. The competition aims to assemble interdisciplinary teams of students to demonstrate their computing skills in big data, artificial intelligence, and data science projects that can have a positive impact on society. Teams are encouraged to work on “Computing with Data for Social Good” projects and tackle real-world issues such as education, health, energy, public safety, transportation, economic development, sustainable smart infrastructure and climate change. it was done.

Stablecoins are at the forefront of digital payments, with the Mexican government aiming to launch its own centralized digital bank currency (Crypto-Peso) by 2025. The go-to payment solution for the future of his CDBC infrastructure in the country. “

“With 90% of all transactions being made in cash, fragmented smartphone functionality and inconsistent internet coverage, there is a great need for a simple and mutually compatible payment network. “Financial access in Latin America is very important to us because we have experienced first-hand the cascading consequences of being outside the traditional financial system: theft, corruption, predatory rates, and exclusion from digital services. It’s important: we want to build a future where financial services are accessible to everyone, regardless of mobile phone type, location or income level.”

Team Starpay is Andre Guardia (PHYS, BS PHYS 4th year), Jorge Placencia (AE, BS AE 2nd year), Rishab Tiagi (CS, BS CS 4th year), David Singer (ITM, BS ITM 4th year) ) was composed of . . .

Bryan Walker, Illinois Tech Trustee, Vice President and Chief Product Officer at Grainger, a Fortune 500 industrial supply company founded in Chicago in 1927, said: “Team StarPay demonstrates our students’ passion for creating technological solutions that can impact the global community.”

The esteemed panel of judges also included ThinkChicago program manager Trenton Dunn. Tim Stojka is the co-founder of three of his technology businesses, including the cloud-based software and data analytics company Agentis, where he is currently CEO. Relativity’s Chief Technology Officer, Keith Carlson, leads one of Chicago’s largest technical teams to create global, secure, end-to-end legal and compliance software for his software. And Grainger’s vice president and chief technology officer, Jonny LeRoy, said:

A highly competitive field with truly exciting projects, Blockchain Efficiently Manages Renewable Power and Electricity Distribution from Team GreenGrid, which made up the second year finalists of the competition and won the second prize It included projects ranging from microgrid systems using donated $10,000 to a food delivery app and from his DonateMates, the third place winning team, facilitated restaurant donations to address food access shortages in local communities.

“Illinois Tech is purpose-driven,” said Raj Echambadi, president of Illinois Institute of Technology. It addresses some of the grand challenges of our time, advancing technology and calling for progress for all.”

Working with the Illinois Institute of Technology’s newly established Computing College to foster diverse thinking, unique solutions, and interdisciplinary collaboration in teams of students from different disciplines and backgrounds. was the goal.

“Computing is key to addressing global problems today and tomorrow,” says Lance Fortnow, dean of the Illinois Institute of Technology’s Department of Computing. “Using computing as a solution to these problems is a key mission of the College of Computing. It is to infuse data and computing into the core of Illinois Institute of Technology’s all-disciplinary educational approach.”

A generous donation funded by The Grainger Foundation, an independent private foundation founded by William W. Grainger, founder of WW Grainger, Inc., supports the Grainger Computing Innovation Prize each year. 2nd, 3rd $5,000.

“The Grainger Computing Innovation Prize will make a difference that philanthropy can make at the Illinois Institute of Technology to provide students with hands-on experience in innovating and using technology to solve some of the world’s most pressing challenges. We have fully demonstrated the technology.

“The Grainger Computing Innovation Prize gives our students a great opportunity to demonstrate what they have learned in the classroom and apply their skills directly to the challenges they face in Chicago and around the world,” says Tech, Illinois. Provost Ken Christensen adds. “The Grainger Foundation’s generous gift empowers Illinois Institute of Technology students as lifelong learners and agents of change in the global community.”

For more information about the Grainger Computing Innovation Prize and this year’s winning projects, please visit https://www.iit.edu/graingerprize.

Sources

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2/ https://www.eurekalert.org/news-releases/972616

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