A live-streamed blockchain and bitcoin quiz tournament between six universities is starting on 15 March. The first event of its kind is organised by the Blockchain Education Network.

There will be three teams from the US (MIT, New York University, University of California-Berkeley) and three teams from Canada (University of Toronto, Wilfrid Laurier University, Queen's University) competing for the Blockchain Cup. The task will be to answer questions on distributed ledger and cryptocurrency to prove which university group knows more on the subject. Students from campuses across the world will compete via Google Hangouts. The first prize consists of 1 bitcoin and 6 Ledger wallets.

“We believe in providing an environment that allows students to connect and where successful grassroots initiatives become global movements,” said Nicholas Abouzeid, Director of Operations for the Blockchain Education Network.

He added that the competition can be seen as a way to “identify top students with proven technical skills and experience.” The tournament will be the start of the annual tradition.

Every team will be provided with free C4 tests; the certificates will indicate members' being knowledgeable in blockchain. The event is sponsored by Purse.io. It will be streamed with a live audience from across the world, with special online contests for Twitter users.

Earlier in March MIT Bitcoin Club, the member of the Blockchain Education Network, is convening a two-day conference Bitcoin Expo.

The idea of the March Madness tournament originates in the college basketball Championship of the National Collegiate Athletic Association. In 2014 the MIT Alumni association organised Hack Madness Tournament, a two week contest that invited the MIT community to vote for their favourite hack.