Sberbank of Russia, state-owned Russian banking and financial services company, announced that it will hold a hackathon during StartUp Village on June 6-7 in Moscow that is focused on blockchain.

The hackathon participants will be tasked with creating IT solutions that will provide new opportunities and possibilities for interacting with clients. The participants can present their idea, project as well as prototype that covers any areas of business, the release said.

The tasks for the hackathon have been published for three categories including blockchain, machine learning and big data.

“Participants can come to the hackathon as part of a team or put together a team on-site. Teams will develop prototypes, receive assistance from experts and mentors, present their projects to the jury, and compete with each other for cash prizes,” it stated.

The hackathon funds a total of 1.5 million roubles to the winners that include 250K roubles to the winner, 150K roubles to the first runner up and 100K roubles to the second runner up.

The applications are accepted until June 5, 2017 and the hackathon will take place at Skolkovo Innovation Centre.