21 April 2016 - Singapore’s Smart Nation journey is an all-inclusive, co-creative journey, and it takes another step forward with the tenth edition of the annual code::XtremeApps:: (CXA) hackathon.
Singapore, 21 April | For Immediate Release
“FinTech: The Next Ten Years” 2016’s Theme as Registration Opens
Singapore’s Smart Nation journey is an all-inclusive, co-creative journey, and it takes another step forward with the tenth edition of the annual code::XtremeApps:: (CXA) hackathon.
IDA, together with the IT Standards Committee (ITSC) and supported by SPRING Singapore, announced 2016’s theme, “FinTech: The Next Ten Years”, will be focused around financial technologies (“FinTech”).
FinTech is seeing rapid takeup with new technology solutions such as FAST (Fast And Secure Transfer), the blockchain, peer-to-peer banking, and more. IDA is keen to explore technologies and its potential solutions for a Smart Nation further. For example, in December 2015, IDA showcased the world’s first application of distributed ledger technology to detect fraudulent multiple invoice financing in a proof-of-concept with Standard Chartered Bank and DBS Bank.
IDA Assistant Chief Executive Khoong Hock Yun said, “Singapore’s Smart Nation journey must be done in co-creation with the public. We continue to encourage our youth to be engaged with and understand technology, code and utilize tech. This will equip tomorrow’s talent with the necessary skills, and for our tenth anniversary edition of Code::XtremeApps:: we are proud to explore the growing trend around financial technologies.”
ITSC Chairman Yap Chee Yuen said, “We are proud to have reached the tenth anniversary of Code::XtremeApps:: and its standing as one of Singapore's best 24-hour and kid's hackathon events. Our commitment to ensuring participants dream big, create innovative solutions and engage in and with the latest technologies, coding and programming has seen great results from both young and old. This year’s focus on financial technologies will continue our tradition of exploring and familiarizing youth with the latest technologies as they co-create with Singapore on its Smart Nation journey.”
SPRING Assistant Chief Executive (Quality & Excellence) Ms Choy Sauw Kook said, “Standards play a crucial role in enabling emerging industries such as FinTech. The Standards Award at CXA provides a good foundation for students and working professionals to understand how standards support FinTech through enhancing interoperability, cyber and data security, and user safety. This can help participants implement quality practices and knowledge as a strategic business tool in their current and future workplaces.”
About Code::XtremeApps:: Competition
CXA has three tracks for its hackathon – a three-hour Junior Category, as well as a 24-hour School and Open Category. Registration is open from May 2 and the competition will be held from the 29th to the 30th of July 2016.
Junior Category
Theme: FinTech: The Piggy Bank Revolution
Date: July 30 (3 hour competition)
Open to youth in Primary schools or aged 12 and below and part of the National Infocomm Competition. It features a 3 hour competition followed by a judging session. This category utilizes the child-friendly technology Scratch to encourage youth to experiment, explore and learn about basic coding and programming in a fun and memorable manner.
School and Open Category
Theme: FinTech: The Next Ten Years
Date: July 29 to July 30 (24-hour, overnight hackathon)
The School Category is available for students ranging from secondary up to pre-university education and is part of the National Infocomm Competition. The Open Category is available to enthusiasts of all ages, including polytechnics, universities and Institutes of Technical Education.
Each team will receive a set of challenges based on the theme at the start of the 24-hour competition, from which they will be required to complete at least one challenge. They are free to use any technologies, including those offered such as cloud platforms and open source technologies.
The School and Open category competition will be held from July 29th to the 30th.
SPRING Singapore Standards Award
In conjunction with the 50th anniversary of the Singapore Standardisation Programme, SPRING Singapore is onboard for the second year to extend the Standards Award category. Open to the School and Open Category participants, the SPRING Standards Award category will award extra points and recognise one winning team which demonstrates the best understanding of how standards play a role in FinTech solutions to ensure interoperability, cyber and data security, and user safety.
The winning team will receive a Standards Award trophy and certificate, along with a cash prize of $1000. Submissions will also form part of the overall score for teams. The special award aims to raise awareness of how standards can support innovations for commercialisation and user adoption; it also aims to inculcate a deeper understanding of how common standards make systems and applications interoperable, such as by enabling new payment technologies to reach its fullest potential. The deadline for this special submission closes on July 8.
In addition, CXA has partnered with the Monetary Authority of Singapore (MAS) in a special collaboration in conjunction with the Singapore FinTech Festival 2016 to be held in November 2016. Open Category participants who create proof-of-concept solutions related to MAS’ challenge statements may be considered for direct entry to the Global FinTech Hackcelerator finals to be held during the Singapore FinTech Festival. More information on the Singapore FinTech Festival 2016 and Global FinTech Hackcelerator can be found at www.FinTechFestival.sg.
Background
CXA is aimed at creating greater awareness and inspiring use and value of programming and standards, as well as fostering collaboration within and without the programming community. The annual event was launched in 2007 with about 60 participating teams and has grown consistently over the years. In 2015, CXA partnered with other IDA-led hackathons for a special SG50 jubilee Hackathon@SG which in total drew over 1,100 attendees. Themes for the hackathon have consistently engaged relevant issues affecting Singapore, from the Silver Generation to Transportation to Green IT.
CXA is unique in its buildup by offering a month of training classes to help ensure participants understand how to use the technology before the competition. These classes are catered for all levels, and can range from programming to hands-on with emerging technologies. This enables budding and current developers the perfect opportunity to share and learn more, as well as develop the seeds of innovative solutions.
ISSUED BY THE INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
About Infocomm Development Authority of Singapore
The mission of the Infocomm Development Authority of Singapore (IDA) is to develop information technology and telecommunications within Singapore with a view to serve citizens of all ages and companies of all sizes. IDA does this by actively supporting the growth of innovative technology companies and start-ups in Singapore, working with leading global IT companies as well as developing excellent information technology and telecommunications infrastructure, policies and capabilities for Singapore. For more news and information, visit www.ida.gov.sg. Follow IDA on Facebook IDA.Singapore and Twitter @IDAsg.
For media clarifications, please contact:
Eugene NEUBRONNER (Mr)
Manager, Corporate & Marketing Communication
Tel: (65) 6211 1182
Email: Eugene_neubronner@imda.gov.sg
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