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Canadian regulator says open data essential to fintech

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Canada’s largest, most influential securities regulator said open access to data is essential to developing financial tech solutions using innovative technology such as blockchain, in a white paper published on Monday.

The Ontario Securities Commission (OSC) paper was the product of a “hackathon” it hosted in November aimed at finding new financial technology solutions to old problems such as regulatory processes, identity authentication, and transparency.

Blockchain, or distributed ledger technology, underpinned the majority of solutions proposed at the hackathon, according to the paper. Blockchain is a tamper-proof, decentralized database; bitcoin is the most famous use of the technology.

For more on this story visit the following link: Canadian regulator says open data essential to fintech

Source: Yahoo Finance 

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