Category Archives: Innovation and Resources

Blockchain and the Future of Energy

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North American Clean Energy | Jul 15, 2018

Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels.

What is blockchain?

If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed.

Why does it matter?

The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met.

More:  Blockchain has the potential to do amazing things, but it needs a reboot

Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the late 90s.  In this analogy, Bitcoin is a lot like the Mosaic/Netscape browser. It’s an example of the dramatic and disruptive effects of blockchain technology:  “Look, Ma! Instead of government issuing currency, a non-profit foundation can issue its own currency and have the market determine its value!” Bitcoin is only the beginning of the many changes blockchain will deliver.

How will it change the energy markets?

In the energy sector, we expect blockchain to have a massive impact. After all, the future of energy lies in renewable energy technology. And unlike fossil fuels, renewable energy relies on a set of assets that are more dispersed. In the future, many more businesses will find it advantageous to produce their own energy and consume it.  Already, prosumers are finding it advantageous to put a renewable energy power plant on their roof of their homes – in the form of solar panels.  These trends will be accelerated by the availability of low-cost battery technologies designed for both industrial and consumer use. Demand response and load management will also be key to building power plants to get to 100% renewable.

A distributed model

Power markets are moving from a centralized model to more distributed model. The fundamental conditions required to make distributed power markets work well are:

  • automated production and consumption tracking
  • validation
  • payments
  • transparency
  • incentives
  • security

These improvements will require a distributed, self-organizing system that reduces friction, routes around regulatory obstacles, and connects fractured markets.

That’s whyblockchain is key. The distributed nature of blockchain provides an unprecedented level of trust and transparency. This enables businesses to feel confident in transactions that require a high degree of trust. Breachingthe security of a central database is one thing – trying to fool a decentralized, global network of databases is almost impossible. The result is a reduced need for middlemen, faster transactions, and lower expenses than traditional centralized models.

See:  How Blockchain is Impacting Canadian Fintech Markets

We’ve seen the impact of thisalready with cryptocurrency; Bitcoin and blockchain solved the double spending problem (i.e. spending the same digital currency twice) by ensuring distributed consensus. As a result, cryptocurrencies can be spent internationally in seconds, at low transaction fees, while working around normal third-party middlemen like banks. This has roiled the financial industry. Get ready for the same thing to happen in energy.

A fundamental shift

Blockchain will enable a fundamental shift in the distribution of energy by enabling people to trade energy among themselves. This will stimulate more renewable energy projects and accelerate the transition away from carbon-emitting electricity generation. Tokenization will allow producers to seamlessly connect with investors.

As a result, we’ll gain the ability to openly and securely verify/track/exchange energy and related data. This will strip away inefficiencies in existing markets and create brand new markets as well. Peer-to-peer (P2P) energy trading marketplaces will use blockchain to create an immutable, open, and secure, decentralized record of transactions.

The resultwill beautomated processes and transactions, significantly reduced costs, and inherently trustworthy sources of verified data. Also worth mentioning: Enabling data-driven investments will includetraditional utilities, not destroy them. They will allow smart cities, municipalities, city planners, and communities to adopt new technology and cooperate to reduce climate change, provide cleaner and cheaper energy, and create a more secure power grid.

Benefits

Some examples of how blockchain will help the energy sector...

Open up markets

The ability to aggregate and exchange secure and trusted data opens carbon offset markets to the approximately 90% of carbon emissions not covered under existing programs.

Eliminate middleman fees

People who have rooftop solar systems often have to pay a hefty fee to the utility company. The blockchain will eliminate these fees.

Improve reporting

The current reporting system is flawed; data is often self-reported (“I made four kilowatts” or “I hired a consultant.”). Plus, it's very expensive. Instead of going to a utility and just sitting there, data will be immutable, open, and verified.

More:  WEF’s Sheila Warren: blockchain is the door to new digital reality

Reduce waste

The blockchain will minimize fraudulent energy production data. By capturing immutable proof of energy production, running open-source estimators to verify, and layering in blockchain to enhance security and trust, this challenge can be solved in a relatively low-cost, low-touch way. This not only cuts down on bad actors and bad data, but also creates a more robust incentive market by improving trust and accuracy.

Fix renewable energy incentives

Incentive programs have been around for decades, but they’re plagued by fraud, and ineffective at addressing the core issue of carbon emissions. Additionally, these programs tend to be location-specific, relatively complex to participate in, and onerous to administer. Blockchain, smart meter, and “oracle” technologies will establish a more trusted, efficient, and effective system for tracking and rewarding carbon displacement via renewable energy production.

Reduce shipments

Blockchain will help create an increasingly decentralized logistics processes (compared to today’s highly centralized version). The ability to administer even the smallest shipments at minimal cost translates into a reduction in shipments. This, in turn, will lessen the need to pool everything together in big warehouses.

Continue to the full article --> here

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
Read More
Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
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Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
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Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 

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Lifehacks for When a Robot Wants Your Job

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BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018

(Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job.

The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt.

The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on.

With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent advisory pie of investment banking revenue outside global markets only pays well when banks counsel on large cross-border transactions or underwrite big IPOs.

See:  Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group

In Asia, the former is largely a Japanese game since China pulled the plug on deal-making by its overly ambitious conglomerates. And large share sales only happen in a few markets. India may be the second-biggest destination for cheap Xiaomi phones, but the Chinese firm’s Hong Kong IPO probably made more for banks than the entire Indian equity advisory industry will earn in fees this year, as a senior finance executive told one of us.

Desks have already shrunk, and will get smaller still. A decade from now all trading will be electronic. Last year, JPMorgan Chase & Co. Chairman Jamie Dimon famously boasted of a currency trader that made a $100 million bet via a cell phone. That’s the shape of things to come.

In contrast to the early days of the 2008 financial crisis, when tech was culled to cut costs, digital upgrades are now seen as both an operational necessity and a strategic differentiator. Tech spending in global-markets divisions of investment banks has risen to $16.5 billion at the 12 institutions Coalition canvassed, from $13.8 billion in 2013. A chunk of that is maintenance of bulky legacy systems, but Amrit Shahani, a London-based research director at Coalition, says large Wall Street and European banks are each spending around 10 percent, or a giddy $1 billion of their annual revenue, to stay relevant.

Chief technology officers are pushing for even bigger budgets. Their teams are the financial coders who’ve created bespoke systems for Goldman Sachs Group Inc. and the like and who are increasingly sitting on trading floors so that precious minutes aren’t wasted talking to someone in Bangalore when a huge deal blows up. Contract workers from third-party firms like PageGroup Plc’s Michael Page and Robert Walters Plc are getting seconded for a few years to help run trading floors smoothly. Headhunters say a $155,000 salary (excluding bonuses) for someone with eight years’ experience isn’t uncommon in Hong Kong, for instance. It’s not exactly banker comp, but it’s rising much faster.

Beyond the coders are the bankers-cum-traders-cum-tech thinkers.

See:  The world’s new oil and AI’s imminent impact on the future of Fintech

Nomura Holdings Inc. in February hired Jezri Mohideen, a former senior trader at Royal Bank of Scotland Group Plc and Brevan Howard Asset Management, to be its global chief digital officer for investment banking. Based in Dubai, part of his job is to set up artificial-intelligence labs and merge the old and new worlds of asset custody.

Talk to any senior banker or trader and they’ll tell you there’s a lot of soul-searching going on amid threats from fintech and blockchain. The challenges are even more pressing for consumer and private banks, as well as in some corners of corporate lending such as trade finance.

Barclays Plc’s wealth management and investment operations head in the U.K. is Dirk Klee, previously at UBS Group AG’s wealth arm in technology and digital services. Singapore’s DBS Group Holdings Ltd. CEO Piyush Gupta is using open-application-programming interfaces to blur the boundaries between payments and commerce. If he doesn’t do it, Ant Financial’s Alipay or upstarts such as ride-hailing service PT Go-Jek Indonesia surely will. In trade finance, using blockchain to retire paperwork older than Shakespeare’s “Merchant of Venice” is a project both Singapore and Hong Kong are working on.

Continue to the full article --> here


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Click for News:

 

NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
Read More
Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
Read More
Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
Read More
Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 

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UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

Share

Crowdfund Insider | | Jul 2, 2018

In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive.

In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement.

The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels.

See: 

The industry leadership organization, the UK Crowdfunding Association (UKCFA), welcomed the UK government’s decision to change the rule – a change that becomes actionable almost immediately – on July 21st.

Investment crowdfunding platforms, both debt and equity, have been increasing the scale and scope of investment offers with many platforms already consistently raising the maximum €5 million for SME’s and infrastructure projects in the UK. The extension is said to enable a new age of crowdfunding for larger businesses and tackle more significant infrastructure projects in a diverse sector of industry.

A spokesperson for the UKCFA shared a statement with CI:

“Our members are already working now on investment offers which could take advantage of this opportunity for larger, more efficient capital raising through investment based crowdfunding without compromising on levels of due diligence. The economics of the previous threshold no longer added up, creating a distortion in the market which has now been addressed. This means that a new sector of ‘scale up’ businesses will be able to benefit from the option of choosing crowdfunding as a route to funding their growth and success.  It also helps maintain the UK’s competitive position as a great place to start and scale a business.”

Continue to the full article --> here


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NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
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Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
Read More
Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
Read More
Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Today in FinTech: Skrumble Network raises $19 million CAD in ICO, Goldmoney partners with Malbex Resources

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Betakit | | Jul 4, 2018

Several Canadian FinTechs have made announcements on the growth of their companies, launching new features and partnerships. Here’s the latest on these company updates.

Skrumble Network raises $19.96 million

Toronto-based Skrumble Network, which aims to create secure connections for communication, raised $19.96 million ($15 million USD) through its token crowd-sale.

Skrumble Network said it raised the funding for its communication-centric blockchain network that will provide developers the infrastructure to build messaging apps. The company wants to help developers build messaging apps that feature secure connections, real-time voice and video calling, wallet integrations for in-context money transfers, and the ability to edit, save, and unsend messages.

Skrumble Network said its broader goal is to address data privacy concerns and allow users to take back ownership of their personal data. The company uses a consensus-based algorithm derived from unique session IDs, which enable private peer-to-peer connections.

“Social media has completely changed the face of communication, and now, data privacy and ownership is one of the biggest concerns of this time. 2.2 billion users around the world have trusted Facebook with their information; 87 million of those users received a wake-up call…when they got notifications that their personal data was compromised, sold, and used to manipulate them,” said Eric Lifson, co-founder of Skrumble Network. “Skrumble Network aims to build back the trust that has been lost since these recent events. Finally, people can connect globally and speak freely on the most secure network possible.”

Goldmoney partners with Malbex Resources

Toronto-based Goldmoney, a gold-based payments and savings platform that allows users to acquire, store, and spend gold that is stored in a secure vault, has announced a partnership with Malbex Resources, which focuses on investments in cryptocurrency and blockchain sector assets.

See:  Toronto Fintech & Funding Networking Event (Jul 11, 2018): 4th Annual NCFA Summer Kickoff!

The partnership with Malbex Resources (which will soon be renamed as COIN) will allow Goldmoney to facilitate all purchases and sales of cryptocurrencies. Goldmoney’s subsidiary BlockVault will act as a third-party qualified custodian for Malbex Resources’ crypto-asset holdings.

“Having worked with the Malbex team for over six months to achieve the proper operational structure and listing approvals, we are confident in COIN’s potential and this partnership,” said Josh Crumb, Goldmoney CSO and founder of BlockVault.

“COIN is one of the world’s first crypto-asset merchant investment businesses to achieve a listing on a major exchange, and the only one that I’m aware of that will have fully-transparent, third-party insurance and auditing on their crypto-asset portfolio.

Our relationship with COIN is an exciting first example of the types of markets we can open up with BlockVault’s institutional cold-storage technology, allowing institutional investors exposure to this new asset class while ensuring the private keys for their underlying assets are securely stored in safe custody and insured.”

Finn AI launches on the Temenos Marketplace

Finn AI, which works with financial institutions to launch AI assistants, has launched on the Temenos MarketPlace.

Temenos Marketplace is a web-based application that allows users to manage business applications on a single site. Specifically, the Marketplace allows financial institutions to access FinTech solutions.

Finn AI has been working with Temenos for almost a year. In 2017, the company participated in Temenos’ Innovation Jam competition, which focuses on uncovering exciting FinTech companies.

“Finn AI, which won Innovation Jam Miami last year, is one such company, allowing bank customers to conduct banking using simple conversation over their preferred channels,” said Ben Robinson, CSO at Temenos. “The solution has continued to evolve since then and is it now available on MarketPlace.”

“We evolve the way bank customers interact with their banks, providing them with a conversational personal banking assistant that uses artificial intelligence and natural language processing to create an experience that is relevant and modern,” said Jake Tyler, CEO of Finn AI.

“Finn AI allows bank customers to manage and learn from their money via their channel of choice – such as Facebook Messenger, native iOS and Android apps, web chat and others. Since we only work with banks, we have built a clear domain expertise that allows us to integrate faster with better results. We look forward to bringing this solution to Temenos clients all over the world.”

More:  The world’s new oil and AI’s imminent impact on the future of Fintech

Earlier this month, Finn AI announced that it is collaborating with Visa Canada to leverage its Visa Developer platform to enhance its conversational banking chatbots. Finn AI closed a $3 million bridge round led by Yaletown Partners in October 2017.

 

Continue to the full article --> here

 


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NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
Read More
Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
Read More
Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
Read More
Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Etherparty Announces Winners, Projects Receive Crowdfund Package Valued at USD $100K

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Etherparty | Jul 3, 2019

VANCOUVER, July 3, 2018 /CNW/ - Canadian blockchain technology company Etherparty Smart Contracts, Inc. ("Etherparty"), provider of smart contract software solutions for enterprise and everyday use on the world's most popular blockchains, is proud to announce—and congratulate—the winning entries in the Rocket Three for Free contest, which initially kicked off in April.

The three winners, in alphabetical order, are: Covalent, Now Art and Vanyx.

"The contest received a wide range of ideas, new and exciting concepts. Our contest winners spoke especially to innovation and to making a difference and that's the kind of initiatives we want to support, now and into the future," said CEO at Etherparty, Kevin Hobbs.

The total crowdfund package is valued at around USD $100,000. Each project is awarded with token and crowdfund smart contracts, which are part of Rocket, Etherparty's packaged software solution for cryptocurrency-based crowdfunding. In addition, each project will be offered consulting support and token sale guidance, as needed, throughout the process.

Covalent indexes blockchain transaction data, which is composed of over 70,000 smart contracts and 500 million contract executions across seven different blockchains.

"Having access to Etherparty's triple-verified crowdfunding smart contracts is a foundational piece of tech that we don't have to build in-house and so we can focus on our business instead," said Ganesh Swami, CEO of Vancouver, B.C.-based Covalent.

NOW Art is a Los Angeles, California-based women's run organization of curators, producers and artists servicing the increasing need of curating, producing and expanding public art. The organization will be using blockchain technology to make art more accessible and transparent for the public/private sector, using its coin as a tool to create and place art in public spaces.

"NOW Art is very excited to bridge the gap between smart contract technology and the art industry thanking Etherparty and its software Rocket. Our organization is excited to implement this new technology and enter a new frontier as it will enhance cultural production and access to art," said Carmen Zella, director at NOW Art.

More:  Etherparty Announces Global Crowdfunding Contest Valued at $300,000

Vanyx, another Vancouver, B.C.-based company, provides instant and private transactions on the blockchain. Built on top of proven technologies, Vanyx uses a hybrid architecture incorporating DAG and blockchain technology.

"We are excited to be a part of Etherparty's crowdfunding platform. Up to this point, we have been purely focused on building a great project — Rocket will greatly accelerate the go-to-market process," said Josh Ma, co-founder of Vanyx.

Visit rocket.etherparty.com for more information on user-friendly token crowdsale creator, Rocket. See etherparty.com to view news and information on Etherparty and its other software products.

About Etherparty
Etherparty is a blockchain platform working to enable a connected and inclusive world by building easy-to-use, versatile and intuitive smart contract solutions. Visit: etherparty.com.

About Rocket
Rocket is a user-friendly token creation platform designed for entrepreneurs and creatives. Follow a step-by-step process, paired with industry-leading customer support, to launch and track a globally-accessible token crowdsale. Rocket is the path to achieving your fundraising goals. Visit: rocket.etherparty.com to learn more.

SOURCE Etherparty release


 

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NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
Read More
Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
Read More
Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
Read More
Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Application Deadline Jul 13: Women in Cleantech Challenge: Chance to Win $1 million!

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Government of Canada | Natural Resources Canada | Application Deadline Jul

Have a cleantech idea? Apply for our million dollar challenge!

Only 5% of tech companies in Canada are founded by women. Let's change that!

Who are we looking for?

  • You are a woman with a cleantech idea
  • You are looking to build a business
  • You've got your eye on the prize

Pitch us your cleantech idea and win $1 million!

What you get if you win

Five Finalists

Spend the next 2.5 years with $800,000 support to develop your cleantech venture, including:

  • $115,000 a year for living expenses and travel
  • $300,000 worth of expert advice and support from the MaRS Discovery District
  • $250,000 in value for federal labs to work closely with you to test your idea and move it toward commercialization

One Grand Prize Winner

If you win, you will receive $1 million to advance and grow your business

Continue to the full article --> here


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NCFA Canada | Craig Asano | July 20, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!  Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech.   Fintech Fridays Podcast ep1:  Interview with Samir Bandali of CoinPayments Host:  Manseeb Khan, NCFA Guest:  Samir Bandali, Director of Strategic Partnerships, CoinPayments To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins.  Transcription of Interview NCFA: Hey everyone Manseeb Khan and you are tuning into the NCFA Canada's newest podcast series called Fintech Fridays where we sit down with the incredible people in the Fin-tech community and talk about leading fintech products innovations developments and challenges. Today I'm here with Samir Bandali from ...
Read More
Fintech Fridays Podcast:  ep1 with Samir Bandali of CoinPayments
Crowdfund Insider | JD Alois | Jul 18, 2018 The Monetary Policy Subcommittee, part of the House Financial Services Committee, held a hearing today addressing the emerging world of cryptocurrencies. Over the past several months, several Congressional committees have held similar hearings as policy makers seek to better understand crypto and perhaps hinder, or foster, its growth with legislation. In the Republican controlled House, representatives tend to lean more towards embracing entrepreneurship and innovation but the learning curve can be hard – especially for Members that still carry a flip phone. As previously reported, the list of witnesses included the following individuals; Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics, University of California Santa Barbara Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute Each of the witnesses provided a different perspective on the potential for cryptocurrencies, the value provided, and whether, or not, a central bank should issue central bank digital currency (CBDC) – a hot topic within the crypto policy world. See:  The forces of change are trumping banks and regulators ...
Read More
Congressional Hearing on The Future of Money & Crypto: “These Innovations Should be Fostered Not Smothered”
Pymnts.com | Jul 17, 2018 When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. It’s a lot of apparently contradictory data about a rising generation of consumers that is often discussed, but not nearly as often well-understood. The upshot is that millennials are buying houses – but not at the rates that consumers in the same age cohort have historically bought homes. “Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years,” said Sam Khater, chief economist at Freddie Mac. And the fact that they haven’t has turned up a lot of data, revealing that the market for millennial real estate consumers remains an extremely uneven and, for many, rather uncertain place. The Complex Demographic Born between 1980 and 2000 (roughly), the millennial generation is a ...
Read More
Millennials Turn To Crowdfunding For Mortgage Down Payments
Bloomberg | By Michael Patterson and Andrea Tan | Jul 16, 2018 It might be the definitive sign that cryptocurrencies have arrived on Wall Street. CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time. CFA added the topics, part of a new reading called Fintech in Investment Management, after industry participants showed surging interest in surveys and focus groups. The worlds of finance and crypto have become increasingly intertwined after last year’s Bitcoin boom, with regulated futures now trading in Chicago, blue-chip firms like Goldman Sachs Group Inc. dabbling in digital assets, and scores of Wall Streeters joining crypto-related startups. More:  Traders With Pockets Full of Crypto Quit Wall Street While digital coins have tumbled in 2018 and the real-world impact of blockchain ventures has thus far been limited, some observers say the technology could ultimately transform swathes of the global financial system. “We saw the field advancing more quickly ...
Read More
‘This Is Not a Passing Fad’: CFA Exam Adds Crypto, Blockchain Topics
Oracle Times | Andreas Townsend | Jul 9, 2018 The crypto world and the technology behind it are still intriguing for traders and investors as well from all over the world. A token burn is a common occurrence, and some crypto companies may decide to burn some of their tokens from the circulating supply for more reasons. This is known as coin burning, and it has been conducted by various token developers as a tool to increase demand. Binance coin burning is approaching Binance is on the verge of its quarterly coin buyback and burn of its Ethereum-based token Binance Coin (BNB). The company’s whitepaper explained how the coin burn works and states that “every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.” The structure will make the coin more attractive to investors Binance has initially created 200 million BNB, and they promised that no more coins will be generated ever again. This structure is designed to make the coin more attractive to investors ...
Read More
Binance Coin Burn Is Around The Corner – How The Coin Burn Works
North American Clean Energy | Jul 15, 2018 Blockchain is coming to the energy world and its impact will be massive. It will accelerate the transition to renewables and give us real and immediate ways to combat global warming, incentivize the production of renewable energy, and replace fossil fuels. What is blockchain? If you’ve heard of Bitcoin, blockchain is the technology that powers it. Blockchain allows data to be recorded on a distributed ledger in a way that cannot be changed. Why does it matter? The key benefit of blockchain as a technology is that it enables parties that do not know each other or trust each other to do business together and still feel secure.  Applications running on the blockchain can take advantage of smart contracts that trigger certain events (for example, payment) when particular milestones are met – so long as some form of proof is presented that a particular milestone has been met. More:  Blockchain has the potential to do amazing things, but it needs a reboot Together, blockchain as a technology, and the advent of smart contracts running on it, have the potential to change everything, much the same way that internet technology changed everything in the ...
Read More
Blockchain and the Future of Energy
BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018 (Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job. The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt. The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on. With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent ...
Read More
Lifehacks for When a Robot Wants Your Job
Crowdfund Insider | Cali Haan | Jul 9, 2018 The Ontario Securities Commission (OSC) published its 2018-2019 “Statement of Priorities” June 5th, but the document provides zero helpful guidance to Ontario companies trying to engage with cutting-edge blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. The “OSC…Statement of Priorities for the Financial Year to End March 31, 2019” restates the commission’s ongoing commitment to investor protection, reduction of regulatory burden and the enhancement of staffing diversity. But according to ter Haar, when it comes to areas like ICOs (Initial Coin Offerings), “tokenized securities” and blockchain for fintech, the agency is painfully vague. “The entire investment community is looking to the OSC and CSA for guidance around blockchain and cryptocurrencies and it is disappointing that this hasn’t been highlighted as a priority,” wrote a frustrated Ter Haar via LinkedIN. While it is clear from the “Statement of Priorities” that the OSC has many concerns in its purview, the document’s reliance on fuzzy platitudes regarding Fintech suggests sluggishness at commission and the downright neglect of a growth industry supercharging across the globe: “There are two sides to industry health. Investor protection is just one side of it…However we categorize cryptocurrencies ...
Read More
Ontario Securities Commission “Doesn’t Really Know What’s Going On” in Blockchain Fintech, Says Lawyer
About NCFA Canada | C. Asano | July 9, 2018 TORONTO, JUL 9, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Charlene Cieslik, Chief Anti-Money Laundering Officer (CAMLO) of Coinsquare, has joined the Association`s growing Advisory Group to advise on the areas Compliance and Anti-Money Laundering (view). Charlene Cieslik is the Chief Anti Money Laundering Officer of Coinsquare, Canada's most secure digital asset exchange for buying bitcoin, ethereum, and other digital currencies.  During her 20-year career, Charlene has held roles as the Chief Compliance Officer, Chief Anti-Money Laundering Officer, Chief Anti-Bribery Officer, and Chief Privacy Officer at several Canadian and Foreign scheduled banks, where she was responsible for the development, remediation, and execution of AML/ATF, anti-bribery, regulatory, and privacy programs. Charlene has worked with several “Big 4” accounting firms and a Canadian fintech company, where she has assisted global financial institutions with AML/ATF program development, particularly with post-regulatory exam remediation and AML/ATF investigations. Charlene holds a Master’s degree in Criminology from the University of Toronto, is a Certified Anti-Money Laundering Specialist, and was an original founder of the Toronto ACAMS Chapter.  She has lectured as a Professor at Seneca College and currently teaches in ...
Read More
Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group
Crowdfund Insider | JD Alois | Jul 2, 2018 In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive. In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement. The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels. See:  Competition Bureau weighs in on ...
Read More
UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Blockchain has the potential to do amazing things, but it needs a reboot

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The Globe and Mail | Chris Horlacer | June 29, 2018

Chris Horlacher is president and CEO of Equibit Group, a company that’s putting securities on the blockchain.

When Kik Interactive CEO Ted Livingston was quoted in a recent article saying that “Almost nobody should be looking at blockchain,” I’m sure many readers familiar with the space gasped in shock.

But Mr. Livingston is quite correct in his assessment. It’s one I’ve maintained for a very long time. Blockchain is a fantastic, paradigm-changing technology, but the rush to put everything “on a blockchain” has resulted in hundreds of millions of dollars wasted on projects that are unlikely to ever be commercially viable.

Blockchain technology can be used to completely change how humanity creates, secures and transfers intangible property. Money, contracts, insurance, licences, identity – you name it. Whereas today these things require the blessing of an outside authority to control, with blockchain, individuals can take ownership themselves.

In a world where the custodianship of financial assets is highly centralized, the underlying technology behind bitcoin looked to be a wonder poised to change how society creates and moves value. After more than eight years of studying the technology, speaking publicly about it, and founding a blockchain development company, it’s quite clear to me blockchain is just that – a wonder: a publicly accessible asset register using infrastructure funded directly by its users with an embedded form of payment known as a cryptocurrency.

See:  Canadian Startup Equibit Wants to Decentralize the Securities Industry

Somewhere along the line, however, amid the hype, the many companies who started investing in blockchain technologies got lost – forgetting its true value proposition.

There are many lessons to be learned from how the world’s most prominent cryptocurrency – bitcoin – secures itself. For example, we can use those same features to produce tamper-proof databases, but they need not be blockchains. A number of companies have got caught up in the rush to blockchain; they’ve created networks that tick a box, a mandate, but are actually “permission-based” or “closed” networks – not blockchains as they were initially intended.

“Tokenization” – the process of assigning a digital proxy for a real-world asset – has also been fundamentally misunderstood in this rush. Many of the companies issuing tokens are injecting them into applications for which there is no need. Tokenization for the sake of tokenization isn’t a plan with any hope of generating a return on investment. Near-term, these tokens will serve only as a convenient exit for company founders.

People either forgot, or never knew, what the real value proposition of blockchain technology was. As investors and as human beings, we need to keep asking, “what’s the business case for these networks?” There are worse things than missing out on the next unicorn and, put simply, if a business isn’t looking to disperse their infrastructure costs and make individuals sovereign over their data and digital assets, blockchain probably isn’t for them.

Over the past 10 years, our faith in institutions – both financial and governmental – has been seriously eroded. We’ve endured trillions of dollars of currency debasement used to recapitalize banks, repeated corruption scandals and an endless stream of fraud settlements paid out by financial institutions. Outside of the Western world, it’s even worse.

With bitcoin, and technologies like it, there is a way for individuals to reach a relative island of safety and financial stability. By removing any dependence on third parties to secure their assets or transfer value, they have one less variable in their life to worry about.

More:  How Blockchain is Impacting Canadian Fintech Markets

It’s my hope that 2018 becomes the year when this industry resets. Whose lives does it want to change, and why? Blockchain still has the potential to do amazing things, things that upend centuries-old foundations of industry and replace them with something infinitely better. But we can’t lose sight of the real application of the value proposition itself, which is the radical transparency of the network and its power to bring people together on a level playing field. It can’t only be about closed networks, trading tokens and initial coin offerings. That misses the point entirely.

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The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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