• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / NYDFS Seeks New Tools To Collect Real-time Financial Data
NYDFS Seeks New Tools To Collect Real-time Financial Data

NYDFS Seeks New Tools To Collect Real-time Financial Data

January 23, 2021 by Chayanika Deka

The New York State Department of Financial Service [NYDFS] has announced additional details of DFS’s first-ever techsprint competition.

The techsprint was first announced last fall, following which the DFS has closely worked with stakeholders from the financial services sector, government, as well as the non-profit/academic sectors in order to set up “actionable and meaningful problem” statements for the event.

Since then more than 100 individuals across 75 organizations have engaged in workshops to provide input on the techsprint’s design.

NYDFS’s new Techsprint: In brief

The main aim of the techsprint in question is to bring about “creative and collaborative” prototyping, hence moving toward what the NYDFS describes to be a “smarter regulatory reporting” in cryptocurrency. The Department further intends to use an “intensive, time-bound approach”, to analyze ways to facilitate regulatory reporting via technology and more effectively oversee regulated entities and track the larger ecosystem. 

According to the edict, the techsprint is set to be held virtually during the first two weeks of March this year. Moreover, the opening is set to commence on the 1st of March and culminating with ‘Demo Day’ on the 12th of March.

The NYDFS has also invited regulators, industry professionals from both regulated and unregulated firms, academics, subject matter experts, and design, communications, and technology professionals to register their interest in participating by the 26th of January.

The two-week competition will be conducted to get better access to data from cryptocurrency firms in real time

Following is a snapshot of few questions that the NYDFS seeks to address:

NYDFS

Superintendent of Financial Services Linda A. Lacewell commented,

“Innovation is happening now and we must work together for consumers and industry to gain from its disruptive nature, especially as we all work to build back better during an ongoing pandemic”

Lacewell further explained that DFS’s first-ever techsprint would essentially provide the Department with an opportunity to become more modern and steer towards groundbreaking supervisory techniques forward, advancing the financial regulator of the “future vision”.

The Superintendent also added,

“We look forward to breaking down silos in this ecosystem and propelling a creative and collaborative problem-solving effort.”

Filed Under: News Tagged With: Cryptocurrency, NYDFS

Primary Sidebar

Recent Posts

  • Kentucky To Elevate Crypto Activity By Offering Tax Breaks March 5, 2021
  • Polkadot [DOT] Could Encounter Bears While Heading Towards $40 March 5, 2021
  • A simple and practical Guide to copy trading on Bityard March 4, 2021
  • The Inevitable Rise of the Staking Platforms March 4, 2021
  • Brad Garlinghouse Urges Court To Terminate SEC Lawsuit Against Him March 4, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.