Ontario Securities Commission to host fintech hackathon

Event | November 14, 2016 By:

The Ontario Securities Commission (OSC) has announced it is hosting a regulatory hackathon for blockchain and fintech innovation.

The regulatory agency that oversees the Canadian province of Ontario seems excited about fintech. Now the organization is having a three-day hackathon. “RegHackTO” will take place November 25-27 at the Bitmaker — located at 220 King Street West, Toronto. The event will be the first Canadian hackathon by a securities regulator.

OSC said “all hackers are welcome” and contestants can enter as individuals or teams of six. A judgment panel consisting of Maureen Jensen, Chair and CEO of the OSC, Joseph Lubin, Founder of ConsenSys, and other experts. The hackathon isn’t looking for a run of the mill bitcoin wallet submission, either.

“We’re looking for the wow factor here. Just another app or bitcoin wallet won’t cut it unless it has unique features we’ve never seen before. Does your app make regulatory systems more user-friendly and approachable? How will it ease pain points in regulatory systems?” The OSC said.

The contest follows the OSC’s recent unveiling of its fintech LaunchPad. The LaunchPad engages with financial technology businesses and navigates them through the regulatory policies. “As a new fintech business, the last thing that you want to hear is that you’re not complying with securities regulation,” the agency said.