Category Archives: Blockchain, Crypto, ICOs

Why Blockchain Is The Future Of The Sharing Economy

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Forbes | By Omri Barzilay | August 14, 2017

Everyone’s talking about blockchain, but you’re still not entirely sure what it is, don’t worry, you’re not alone. It’s something that Jack Dorsey, the CEO and chairman of Square and CEO of Twitter, described this week as the “next big unlock,” and something that, according to Dorsey, is normally applied to accounting terms but has the potential to “be applied to so much more.”

Enter the sharing economy. The sharing economy burst into our lives as a big promise during the 2008 recession with an initial wave of investor enthusiasm and a number of “sharing” startups such as Uber and Airbnb. However, many others failed to ride the trend.

These days, the sharing economy feels a bit past its prime. “The ‘Sharing Economy’ is Dead,” Fast Company declared two years ago, summarizing a general sense of fatigue with what now feels like a wildly overhyped idea. But, according to many, the fusion of blockchain and the sharing economy may create a revolution that will transform our economy and share the wealth beyond certain companies and individuals.

Smart contracts help to unbundle ownership

Blockchain can help energize and unlock the sharing economy by making it cheaper to create and operate an online platform. For example, transactions could be coordinated by self-executing smart contracts or performed at lower cost by other small competing providers. The next phase of the sharing economy can emphasize today’s inequalities or ease them, depending on the purpose of the technology itself.

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Basically, blockchain is a different way of keeping track of a normative set of information, instead of storing the information in one central location – the county records office, say, or Airbnb’s database – blockchain makes multiple copies and distributes them across all the nodes of a network. These nodes don’t have to be people, they can be things. This is what makes blockchain a potentially powerful accelerant of the sharing economy as it gives a property the ability to know who its owner is.

Anything with an internet connection can hook up to a blockchain, which means anything with an internet connection can have a perfect record of who owns what. So let’s say I rent out my house like I would on Airbnb. By utilizing blockchain technology, I could program my front door to open only when a person reserved it, and automatically pay me, and lock the door, once he leaves the property.

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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Impak Finance ICO planned for launch Aug 21

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Impak Coin | Paul Allard | Aug 16, 2017

impak Coin (MPK) first legal Initial Coin Offering (ICO) positions Canada as a global leader in the cryptocurrency space and gives individuals around the world the opportunity to ignite the impact economy by participating in the crowdsale opening August 21 2017.

MONTREAL, Canada, August 16, 2017 - impak Finance, the fintech company focused on driving the social impact economy, announces the public presale of its impak Coin which is Canada’s first ICO (Initial Coin Offering) fully compliant with Canadian securities laws. A truly innovative investment device, this complementary currency is designed to work alongside traditional economy but with public benefit in mind. The public crowdsale of impak Coin begins on August 21, 2017 and investors can participate on  www.impakcoin.com

“impak Finance is writing a new page in the young history of ICOs by taking on the challenge of becoming fully regulatory compliant and as a result bringing a higher degree of protection for participants. Once again, impak Finance demonstrates that transparency and trust are core to our project”, says Paul Allard, impak Finance’s Chief Ecosystem Officer. “We are delivering on our promise to use technology to reinvent the way citizens can use money for doing good.”

See:  Impak Finance raises largest single-day amount for Canadian equity-crowdfunding initiative

impak Coin is one of the few ICOs in the world to have passed all of the national regulatory requirements ensuring transparency and integrity for participants in the presale of this cryptocurrency. The impak Coin ICO will be a model for regulators worldwide to protect investors, while playing a positive role in enabling small businesses to raise capital with the latest developments in financial technologies.

impak Coin, a cryptocurrency for a better world

Impak Coin combines the advantages and functionalities of complementary currencies, recognition programs, and new cryptocurrencies. Built on the WAVES fully transparent blockchain platform, it is stable, safe and more efficient than many other digital currencies. Designed for everyday use, transactions within the impak ecosystem are free for both merchants and customers. By also rewarding user participation in the ecosystem with impak Coins, we will ensure that all stakeholders become winners and continue to grow the impact economy.

 

About impak Finance

impak Finance Inc., an innovative Canadian fintech company focused on driving the social impact economy, recently raised over $1.5 mm in 2016 with strategic investors and through a highly successful equity crowdfunding campaign. Dedicated to the development of the social impact economy, impak Finance proposes to radically change the way citizens and organizations collaborate and transact. Impak Finance Inc. is building a financial ecosystem that connects investors, businesses and citizens who share the same social values while on its way to creating  Canada’s first 100%  digital Canadian  chartered  bank.

Regarding Blockchain and ICOs

ICOs have already raised USD 327 million this year alone, compared to USD 101 million in all of 2016, according to the latest numbers from  Smith +  Crown a blockchain research firm. “This is inevitably becoming a fast-growing alternative for businesses to raise capital.”

Blockchain technology has been on fire in the past year, with blockchain-based cryptocurrencies recently passing $100 billion market cap, and the technology being adopted in projects all over the world. The fact that multibillion dollar companies like Toyota and Deloitte are working with the blockchain just adds to the technology’s reputation and proves it has value. As for ICOs, around 20 offerings a month are currently taking place and the Tezos blockchain ICO is the most recent record that generated US$232 million, ending on July 13.

 

Media Contacts

Eve Montpetit -  eve.montpetit@impakfinance.com  514-813-0871

Press kit :  download  link

Video:  Introducing impak  Coin  Info at  www.impakcoin.com


The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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$200 Million In 60 Minutes: Filecoin ICO Rockets to Record Amid Tech Issues

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Coindesk | Stan Higgins | Aug 10, 2017

An initial coin offering (ICO) for the blockchain data storage network Filecoin has raised an estimated $200 million from accredited investors despite being beset by technology issues.

The figures add to the roughly $52 million in tokens sold in a pre-sale to investors like Sequoia Capital, Andreessen Horowitz and Union Square Ventures, announced last week. However, at press time, the ICO – which is being conducted via CoinList, a joint project between startup investment platform AngelList and Filecoin developer Protocol Labs – is paused.

The sale halt came just over an hour after it first began at 1 p.m. PT.

Site issues cropped up soon after the sale began, with social media posts showing that some users had problems accessing the site. The Filecoin page on CoinList also displayed problems with the ticker meant to track the total amount raised.

See:  ICOs: New Model of Blockchain Capitalism

Over the course of the first hour, it reset several times, reverting back to a baseline amount despite showing a rising minimum price. (Filecoin's ICO is utilizing a sale model in which the minimum price buyers would need to pay rises as more investors join in.)

Problems aside, the sale has generated a record-breaking level of investor interest.

Just over 30 minutes into the sale, the Filecoin team announced that it had garnered a total of $252 million in investments – a figure which includes the pre-sale figures.

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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So You Want to (Legally) Raise an ICO?

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CrowdfundInsider | By

On Tuesday, July 25, the SEC announced that Initial Coin Offerings, also called Token Sales, in many cases may be considered securities. Of course, this probably terrifies a large amount of the ICO community. So how do you actually legally raise an ICO?

Your first consideration should be whether you want to take U.S. investors. Many people seem to think that if they form the ICO in another country, they are not subject to U.S. laws. If only it were so! In truth, U.S. securities laws apply whenever someone is raising capital from a U.S. investor. It doesn’t matter if you are onshore or offshore–it only matters if you are going to include U.S. investors in the raise.

This all ultimately becomes a business decision. If you choose to include U.S. investors in your ICO event, you pay the price of adherence to U.S. securities laws. If you do choose to include U.S. investors on the ICO offering, the next question becomes what kinds of U.S. investors are you going to take funds from?

See: ICOs: New Model of Blockchain Capitalism

This boils down to two categories of people: rich people and non-rich people.

Limiting it to Rich People Only

Under Rule 506(c) of Regulation D, the SEC allows you to take as much money as you want from rich people only. There is no waiting period–you simply tell the SEC about your raise after the fact. You do, however, need to have proper legal paperwork. Because you are going to be openly advertising the ICO, the SEC requires you to take reasonable steps to verify that your investors are actually rich.

When I say “rich”, I’m talking about what the SEC thinks a rich person is. Their technical term for this is “accredited investor”–or a person with at least $1 million in net worth (excluding their primary residence), or with an annual income of at least $200,000. The investor will be required to prove to you that they meet this threshold.

Raising from Non-Rich People

  • Raises up to $1 million

Under the relatively new Reg CF rules, ICOs can raise up to $1 million every 12 months from non-rich investors. In order to do so, however, the investor must file some paperwork, get their financials together, and find a registered funding portal or broker dealer that will list them.

Although not the strictest of the fundraising regulations, some issuers may still find this type of raise burdensome. This is because they will have to spend money on at least a financial professional and an attorney. Additionally, they will be subject to some annual reporting requirements and so should be okay with transparency.

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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‘Blockchain Revolution’ Author Launches $20 Million Digital Asset Investment Firm

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Coindesk | Stan Higgins | Jul 31, 2017

Alex Tapscott, the co-author of the book "Blockchain Revolution," is today launching a new digital asset investment firm backed by $20 million in financing.

Called NextBlock Global, the new firm will focus on investments in the digital asset space. In statements, the fund's backers described the round as oversubscribed – a perhaps unsurprising state of affairs given recent interest from investors in vehicles tied to the blockchain industry.

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Tapscott, who penned "Blockchain Revolution" with his father Don Tapscott, said in a statement:

"We saw tremendous demand from institutional and strategic investors who are looking to get exposure to this new asset class. NextBlock will immediately begin to deploy capital, giving investors diversified exposure to the most promising investments in this space."

NextBlock Global joins a growing body of ventures aimed at capitalizing on growing interest in blockchain-based assets. As reported by CoinDesk, the operators of a regulated, Jersey-based bitcoin fund earlier this month closed a new $5 million fund aimed at investing in blockchain tokens and initial coin offerings (ICOs).

Other investors, including some long-time backers in the bitcoin space, have sought capital to invest in the ICO space. CoinDesk's Q1 State of Blockchain report noted that, in a first, more money has been invested in blockchain projects by way of ICOs compared to traditional venture capital this year.

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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