Category Archives: Blockchain, Crypto, ICOs

Podcast Strictly Legal: Who Owns Blockchain?

Osgoode Professional Development York University | Nov 2019

OsgoodePD Podcast Strictly Legal - Podcast Strictly Legal:   Who Owns Blockchain?

Strictly Legal, an Osgoode Professional Development podcast, is about all things legal. Each episode, we unpack current issues affecting the legal landscape with the help of some of the industry's leading thinkers.

Heated fights over intellectual property are nothing new in promising technology markets. Are we poised for a revolution in the protection of all types of IP?  The blockchain can be used to control and track the distribution of protected IP.  Imagine a world where you could easily register and claim ownership over your original creative works – from music to photos to blogs. With the use of blockchain technology, that world is not so far away.

As the world reacts to the current blockchain mania, many businesses in the community are having discussions on what the future of innovation in the blockchain space looks like.

This week's guest:

 

Paul Horbal - Podcast Strictly Legal:   Who Owns Blockchain?

BIO:  Paul Horbal is a partner with Bereskin & Parr LLP. He is a member of the firm’s Electrical & Computer Technology group and is Chair of the Financial Technology group. His practice focuses on patent, industrial design and technology law, with an emphasis on securing and leveraging intellectual property rights for high-tech and Fintech clients.

He advises clients of various sizes, but particularly enjoys working with startups and high-tech entrepreneurs. In addition to his work preparing and prosecuting patents, Paul advises clients regarding their intellectual property licensing needs.

He has prepared and filed patent applications relating to block chain technology, payment processing, telecommunications systems, integrated circuits, digital signal processing, biomedical and biomonitoring devices, power systems and power electronics, computer networks, computer software, along with many other technologies.

Paul is a member of the Ontario Bar Association (OBA) Executive Committee on Practice Innovation & Technology, Sub-Committee on Curating Technology. He is also a member of the American Intellectual Property Law Association (AIPLA). Paul is former Chair of the Toronto Intellectual Property Group, Vice-President of the Ukrainian Canadian Professional and Business Association of Toronto.

Paul has been a faculty member for the Osgoode Certificate in Blockchains, Smart Contracts and the Law (2018/2019), an educational course developed for lawyers, business leaders, managers and influencers with an interest in blockchain technology.

He speaks and writes regularly regarding intellectual property and is an active tweeter (@horbal).

 

Transcription of Interview coming soon...

 

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NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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Recession gatecrashes Hong Kong’s fintech party | SFC outlines VATP regulatory framework and China’s digital currency

Reuters | Sharon Lam | Nov 8, 2019

HK - Podcast Strictly Legal:   Who Owns Blockchain?

Recession gatecrashes Hong Kong’s fintech party

HONG KONG (Reuters Breakingviews) - Hong Kong’s economic travails are an unwelcome guest in the city’s fintech party. Enthusiasm for online-only banks was palpable at the Fintech Week conference. Yet months of political unrest have hit small businesses, and the added risks may delay local launches by the likes of Standard Chartered and Tencent.

Attendees this week descended on Hong Kong’s Lantau Island for the financial hub’s fourth annual gathering. With appearances from top officials like Financial Secretary Paul Chan to executives at Singapore’s $14 billion Grab and other rising stars, there was plenty of buzz. Hot topics included central bank digital currencies and cross-border payments.

See:  News on China cryptocurrency and more reforms

Virtual banks, as these branchless outfits are known in Hong Kong, took centre stage. Earlier this year, Hong Kong authorities granted eight licenses for such firms to offer payments, deposits and other services, in a long overdue shakeup. HSBC, Bank of China Hong Kong, Hang Seng Bank and Standard Chartered account for some three-quarters of the city’s mortgages and two-thirds of retail loans. Online challengers, including a joint venture between Chinese handset maker Xiaomi and AMTD, as well as insurance giant Ping An, are ready to muscle in. About 30% of total banking revenue, or $15 billion, is up for grabs, analysts at Goldman Sachs reckon.

Yet just 40 kilometres away from sunny Lantau, Hong Kong’s central business districts and elsewhere are reeling from broader malaise. The financial centre’s economy shrank by 3.2% in the third quarter, plunging it into recession for the first time in a decade, as increasingly violent anti-government protests took hold. Lenders now face lower profitability as risks of loan losses and higher credit costs rise, Morgan Stanley analysts warned in a recent note. The protest-battered city’s 340,000 small and medium-sized businesses, prime customers for online-only banks, have been hit the hardest. Virtual banks say they remain fully committed to Hong Kong.

Continue to the full article --> here

 

Latham and Watkins LLP | Simon Hawkins and Kenneth Y.F. Hui

SFC outlines new regulatory framework for virtual asset trading platforms, HKMA highlights recent FinTech initiatives, and PBOC discusses China’s forthcoming central bank digital currency.

The fourth annual Hong Kong FinTech Week conference kicked off with a major announcement from Mr. Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC), who introduced a new, formalized regulatory framework for virtual asset trading platforms (VATPs). A panel of central bankers also discussed stablecoins and central bank digital currencies, including the People’s Bank of China’s (PBoC) forthcoming central bank digital currency, referred to as the digital currency / electronic payment (DCEP) coin.

VATP Regulation

Last year, the SFC published its conceptual framework for the potential regulation of VATPs and, since then, the SFC has worked behind the scenes with some of Hong Kong’s existing VATPs to better understand their operations, and to explain the SFC’s regulatory expectations, while also assessing VATPs capability to comply with the SFC’s expected requirements.

Importantly, under Hong Kong’s securities laws, the SFC only has power to regulate a VATP that trades virtual assets or tokens that are legally “securities” or “futures contracts.” Bitcoin and other, more familiar, cryptoassets are not securities, and nothing in the SFC’s new framework alters this position. The new framework therefore only applies to VATPs, which include at least one security virtual asset or token for trading. Thereafter, the SFC’s new rules will apply to all of a VATP’s operations, even if the vast majority of other virtual assets or tokens traded on the platform are not securities.

See:  Hong Kong being pulled into the 21st Century — digital banking licenses finally arrive

Essentially, the new regulatory framework allows a VATP to “opt in” to SFC regulation by electing to trade at least one security virtual asset. The SFC’s view is that the principal benefit of being regulated is that the VATP would be able to represent itself to clients as a supervised business. Once licenses are granted to the VATPs that choose to opt in, investors will then be able to distinguish easily between regulated platforms and platforms that are not regulated.

VATPs that wish to opt in under the new framework may apply to the SFC to be licensed for Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities. The SFC will only accept license applications from centralized VATPs that are based in Hong Kong, so decentralized and peer-to-peer VATPs will not be able to obtain licenses (for the time being, at least).

License applicants must demonstrate that they are willing and able to comply with the expected standards under the regulatory framework published by the SFC. Under the key licensing conditions that will be imposed on licensees, a VATP operator must:

  • Only offer its services to “professional investors” (i.e., the general public will not be able to trade on SFC-licensed VATPs)
  • Have stringent criteria for the inclusion of virtual assets to be traded on its platform
  • Obtain the SFC’s prior written approval for any plan or proposal to add any product to its trading platform
  • Submit monthly reports to the SFC on its business activities
  • Engage an independent professional firm acceptable to the SFC to conduct an annual review of its activities and operations and prepare a report confirming that it has complied with the licensing conditions and all relevant legal and regulatory requirements
  • Only provide services to clients who have sufficient knowledge of virtual assets
  • Not conduct any offering, trading, or dealing activities of virtual asset futures contracts or related derivatives
  • Adopt a reputable external market surveillance system to supplement its own market surveillance policies and controls
  • Ensure that an insurance policy covering the risks associated with custody of virtual assets is in effect at all times

Notably, SFC-licensed VATPs should only include security virtual assets that are (i) asset-backed; (ii) approved or qualified by, or registered with, regulators in comparable jurisdictions; and (iii) with a post-issuance track record of 12 months.

VATPs

In light of the intensive assessment process and to meet the expected regulatory standards, the time required for processing a licensing application from a VATP may be longer than the 16-week period that is typically expected for a standard securities licensing application.

If a platform operator is licensed, its infrastructure, core fitness and properness, and conduct of virtual asset trading activities should be viewed as a whole. Although trading activities in non-security virtual assets or tokens are not “regulated activities,” the SFC’s regulatory remit over all of these aspects of platform operations will be engaged once a platform involves trading activities in security virtual assets or tokens, even if these activities are a small part of its business.

The SFC has stated that it will continue to monitor the evolution of cryptoassets and work with the Hong Kong government to explore the need for legislative changes in the longer term.

See:  The future of Asia: Asian flows and networks are defining the next phase of globalization

Other FinTech Initiatives in Hong Kong

Mr. Eddie Yue, Chief Executive of the HKMA, highlighted a series of recent initiatives aimed to foster the FinTech ecosystem in Hong Kong:

  • The subsidiaries of Hong Kong Interbank Clearing Limited and Institute of Digital Currency of the PBoC have signed a memorandum of understanding to connect the digital trade finance platforms of Hong Kong and the PRC.
  • The HKMA and the Bank of Thailand are conducting a joint research project to study the application of central bank digital currency to cross-border payments, with a view to facilitating HKD-THB payment-versus-payment among banks in Hong Kong and Thailand. A joint report is scheduled for release in the first quarter of 2020.
  • The first-ever innovation hub of the Bank of International Settlements (BIS) commenced operations in Hong Kong in November 2019. The mandate of the BIS innovation hub is to identify and develop in-depth insights into critical trends in financial technology of relevance to central banks, to explore the development of public goods to enhance the functioning of the global financial system, and to serve as a focal point for a network of central bank experts on innovation.
  • The HKMA is conducting a study on the application of artificial intelligence (AI) technology in the banking industry and will release a series of publications on this topic in the coming months. This announcement follows a circular issued by the HKMA earlier in November 2019, setting out high-level principles that banks should take into account when designing and adopting AI and big data analytics applications.
  • The HKMA has jointly launched the Fin+Tech Collaboration Platform with the Hong Kong Science and Technology Parks to support FinTech development. Industry players can use the platform to organize FinTech-related activities, such as hackathons.

Continue to the full article --> here

 

 


NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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US DHS Awards Mavennet $182K for Cross-Border Oil Import Tracking Using Blockchain

Mavennet and US Department Homeland Security | Patrick Mandic | Nov 6, 2019

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WASHINGTON – The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) has awarded $182,700 to Toronto-based Mavennet Systems, Inc. to adapt its oil and gas industry blockchain security technology for Custom Border Protection (CBP) to track cross-border oil imports.

“Accurately tracking the evidence of oil flow through pipelines and refinement between the U.S. and Canada and attributing oil imports with the accurate composition and country of origin are of great interest to U.S. Customs and Border Protection (CBP),” said Anil John, S&T’s SVIP Technical Director. “Mavennet’s platform could provide this digital auditability while ensuring broad interoperability by supporting emerging World Wide Web Consortium standards such as decentralized identifiers and verifiable credentials.”

Mavennet Systems, Inc. Phase 1 award project “Blockchain-as-a-Service for Cross-Border Oil Exchange” will apply the company’s expertise, gleaned from building a platform enabling real-time auditability of the natural gas trading markets in Canada, to address CBP needs for cross-border oil import tracking. Mavennet’s solution will build a generic end-to-end platform that can be used for any type of commodity that includes automation and integrating application program interface, physical measurement and legacy system capabilities.

See:  President Xi Says China Should ‘Seize Opportunity’ to Adopt Blockchain

The Phase 1 award was made under S&T’s Silicon Valley Innovation Program (SVIP) Other Transaction Solicitation Preventing Forgery & Counterfeiting of Certificates and Licenses seeking blockchain and distributed ledger technology (DLT) solutions to fulfill a common need across DHS missions.

SVIP is one of S&T’s programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. Companies participating in SVIP are eligible for up to $800,000 of non-dilutive funding over four phases to develop and adapt commercial technologies for homeland security use cases.

View Release:  here

 


NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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Even Facebook’s Libra can’t escape the fintech establishment

FastCompany | Howard Yu and Jialu Shan | Nov 6, 2019

american dollar - Podcast Strictly Legal:   Who Owns Blockchain?Despite Facebook’s reach, IMD professor Howard Yu and research fellow Jialu Shan break down how its Libra digital currency is no match for legacy financial institutions.

To understand the impact of Visa’s and Mastercard’s withdrawal to Libra is to understand their enormous influence in fintech innovation in the Western world. At the International Institute for Management Development (IMD), we track how likely a firm is to successfully leap toward a new knowledge frontier in its effort to prepare for the future. We specifically measure how ready the industry incumbents in the financial sectors are for new areas such as robo-advisers, cryptocurrency and blockchain, artificial intelligence, mobile services and mobile payments, and application programming interfaces (APIs).

To achieve a balanced and robust measurement, we take note of the “health” of a company’s ongoing business through its cash flow, operating margins, and rising revenues. But for that healthy cash flow to be effectively deployed into new areas, executives need to see beyond their day-to-day operations and be capable of challenging the long-held assumptions of the industry. This process demands diversity in a company’s workforce, which is represented by gender and nationality as well as the specific backgrounds of the top leadership. We then measure the company’s growth prospects as gauged by investors’ expectations, investment in startups or new ventures, and, perhaps most importantly, its new product announcements.

See:  Sibos London 2019: Banks that fail to embrace APIs ‘face existential threat’

The result is an index, which unsurprisingly includes a few household names among fintech developers. PayPal, a digital payments firm that turns 20 this year, and Square, which processes credit card payments everywhere from street stalls to coffee stands to fancy farmers’ markets, are both sitting at the top of the rankings. And yet, several incumbents have managed to grow just as fast. They are the legacy infrastructure builders: Visa and Mastercard.

Since the dawn of the smartphone era, countless new entrants providing payment methods—Apple Pay, Google Wallet, Square, PayPal, Vimeo, and Revolut, to name just a few—have all proven themselves powerful innovators that can design offerings that consumers crave. They have carved out segments of the market away from the credit cards that traditional retail banks issue.

In the face of these changes, the only proven strategy Visa and Mastercard can rely on in order to maintain the relevance of their legacy infrastructure is to bypass their own plastic, deemphasizing and destroying the very physical embodiment of their products, which was cherished for decades, and allowing these disrupters to connect to their toll road. If you can’t beat them, let them join you.

It should come as no surprise that when the Apple card was announced, commentators noticed that, in addition to promised breakthrough features, its logo shared space with Goldman Sachs—the underwriter—and Mastercard. Not even Apple can shake off the plastic network.

And it’s not just Apple. PayPal, Square, Samsung Pay, Google Pay, Facebook Credits, Stripe, and even cryptocurrency startup Coinbase, all work with Visa and Mastercard. In other words, no fintech company can disrupt anyone unless they pay a toll to the old boys’ network.

The reason is simple. An interface standard has emerged that has made Visa and Mastercard so simple and powerful to work with that their vast networks are irresistible for any fintech: APIs.

See:  Lack of open banking framework forcing Canadian consumers to choose between convenience and security, TD exec says

An API is an official set of rules and guidelines that facilitates the exchange of information between two pieces of software. These software routines, protocols, and tools can allow third parties to tap into Visa and Mastercard’s infrastructure. “While many legacy bank players have been hesitant to see Visa as primarily a technology company,” observed Gilles Ubaghs, senior analyst of financial services technology at Ovum, “the recent launch of Visa’s developer platform, . . . with a host of APIs offering a full mix of payment functionality, all built on Visa’s underlying core network, [shows that] Visa is opening up its full capabilities directly to the broader digital ecosystem.”

The major breakthrough here, then, is the realization that a product’s best feature will never be invented in-house. Visa and Mastercard realize that killer apps will be invented by third parties, who are closer to the customers than the credit card giants. Whenever a third-party application becomes significant enough, the system co-opts it in order to remain flexible, all the while setting new standards for the industry. There may come a day when credit cards themselves disappear, but Visa and Mastercard can still be ubiquitous, still making all the hard parts of sending and receiving money around the world look easy.

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NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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Lone Bitcoin Whale Likely Fueled 2017 Price Surge, Study Says

BNN Bloomberg | Matthew Leising and Matt Robinson | Nov 4, 2019

bitcoin whale - Podcast Strictly Legal:   Who Owns Blockchain?(Bloomberg) -- A Texas academic created a stir last year by alleging that Bitcoin’s astronomical surge in 2017 was probably triggered by manipulation. He’s now doubling down with a striking new claim: a single market whale was likely behind the misconduct, seemingly with the power to move prices at will.

One entity on the cryptocurrency exchange Bitfinex appears capable of sending the price of Bitcoin higher when it falls below certain thresholds, according to University of Texas Professor John Griffin and Ohio State University’s Amin Shams. Griffin and Shams, who have updated a paper they first published in 2018, say the transactions rely on Tether, a widely used digital token that is meant to hold its value at $1.

“Our results suggest instead of thousands of investors moving the price of Bitcoin, it’s just one large one,” Griffin said in an interview. “Years from now, people will be surprised to learn investors handed over billions to people they didn’t know and who faced little oversight.”

Tether rejected the claims, with General Counsel Stuart Hoegner arguing in a statement that the paper is “foundationally flawed” because it is based on an insufficient data set. The research was probably published to back a “parasitic lawsuit,” the general counsel added.

See:  Regular investors are cut out of a major financial market and the SEC chief wants to change that

Bitfinex and Tether aren’t new to controversy. The exchange is owned and operated by the same executives who control Tether, and multiple traders have questioned a key assertion about the coins -- that each one is backed by one U.S. dollar. The tangled web has attracted scrutiny from the U.S. Justice Department and New York’s attorney general, who accused Bitfinex in an April lawsuit of trying to hide the loss of hundreds of millions in customer funds.

Griffin and Shams’s hypothesis that Bitcoin was manipulated is based partly on the theory that new Tethers are created without the dollars to back them and then used to buy Bitcoin, leading to rising prices. The authors examined Tether and Bitcoin transactions from March 1, 2017 to March 31, 2018, concluding that Bitcoin purchases on Bitfinex increased whenever Bitcoin’s value fell by certain increments. Griffin and Shams didn’t name the entity on Bitfinex that they think was responsible. They shared their updated research with Bloomberg News.

“This pattern is only present in periods following printing of Tether, driven by a single large account holder, and not observed by other exchanges,” they wrote in their new peer-reviewed paper, set to be published in a forthcoming Journal of Finance.

“Simulations show that these patterns are highly unlikely to be due to chance. This one large player or entity either exhibited clairvoyant market timing or exerted an extremely large price impact on Bitcoin that is not observed in aggregate flows from other smaller traders.”

‘Money Grab’

In his statement, Tether’s Hoegner was adamant that the allegations laid out in the paper have no merit.

“This is a transparent attempt to use the semblance of academia for a mercenary money grab,” Hoegner said. “Updates or not, the paper lacks academic rigor.”

He added that “macroeconomic experts and stakeholders in the cryptocurrency ecosystem understand that it is the global rise of digital currency that has driven the markets and demand for Tether.”

 

See:  Investors, ‘starved for returns,’ flood private markets in search of high-growth opportunities

Both Bitfinex and Tether received subpoenas in 2017 from the U.S. Commodity Futures Trading Commission, Bloomberg reported at the time. The Justice Department has since opened a criminal investigation into whether Tether was being used to manipulate Bitcoin. Neither the CFTC nor federal U.S. prosecutors have accused Bitfinex or Tether of any wrongdoing.

$850 Million

In her lawsuit, New York Attorney General Letitia James said Tether and Bitfinex executives participated in a cover-up after about $850 million in client and corporate funds allegedly went missing. Bitfinex has said that James’ suit is riddled with erroneous assertions.

Continue to the full article --> here

 


NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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[Osgoode Professional Development NOV 28-29]: Certificate in Blockchains, Smart Contracts and the Law

Osgoode Professional Development - York University | Nov 5, 2019

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OSGOODE PROFESSIONAL DEVELOPMENT

Certificate on Blockchains, Smart Contracts & the Law

Interpret and plan for global market change through this educational course developed for lawyers, business leaders, managers and influencers with an interest in blockchain.

The Osgoode Certificate on Blockchains, Smart Contracts & the Law is designed to cohesively integrate relevant information on governance, regulation, policy, law and distributed ledger systems in a way that is tailored to help you to understand the implications on how blockchain works, and its potential impact.

The program is run in two modules, which includes three online primers and the textbook A Practical Guide to Smart Contracts & Blockchain Law. Participants can expect to learn the basics of blockchain use cases, including its importance in intellectual property, smart contracts, and the tax structure of digital assets..

*MODULE 1

November 28-29, 2019
8:30 a.m. - 4:30 p.m. EST

Osgoode Professional Development Centre
1 Dundas St. W., 26th Floor Toronto, ON (map)

*In person and Webcast

 

*MODULE 2

January 20-21, 2020
8:30 a.m. - 4:30 p.m. EST

Osgoode Professional Development Centre
1 Dundas St. W., 26th Floor Toronto, ON (map)

*In person and Webcast

 

The overall course was great [and] all of the speakers gave top-notch advice, were open to answering detailed questions, and covered a gamut of issues I have been grappling with for some time. The opportunity to network with some of Canada’s preeminent experts on this subject was invaluable.” 

Heather Anne Hubbell, Head of Governance, Hubbell Associates Limited, and MD Digital Bonds Salt Exchange

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CHANGE IS HERE.  YOU NEED TO GET PREPARED

The rapid growth and implementation of blockchain technologies has already begun to disrupt and revolutionize the financial system and other industries. Change can present challenges and it can also provide opportunities. The key to unlocking opportunities lies in determining how the legal system can best foster the development of this new business sector by truly understanding the nature of blockchain transactions, the implications of differences in business models, and an appropriate approach to address the numerous legal issues arising from this paradigm shift.

As with many new technology services offerings, there are vital risk-based issues that need to be carefully considered before businesses, particularly heavily-regulated ones, can start to fully realize the full potential of distributed ledger technologies.

Designed for lawyers and executives without a technical background, over the course of this comprehensive, focused and practical program, you will explore the potential of the blockchain industry, as well as the effect of the technology on other industries, to enhance your understanding of blockchain and to arm you with the knowledge and insights you need to incorporate blockchain into your practice and/or business strategy.

You will Learn

In two intensive modules, this one-of-a-kind, focused and practical program has been developed with a sophisticated audience in mind and is presented by a faculty comprised of legal thought leaders to address key elements, including:

  • Understanding blockchains and distributed ledger ecosystems
  • Cryptocurrencies, initial coin offerings and characterizing blockchain tokens
  • Smart contracts and decentralized applications
  • Competently advising through blockchain innovation
  • Analyzing the nature of blockchain transactions and differences in business models
  • Transforming enterprise business models

Participants can also navigate the more complex legal issues surrounding blockchain, such as blockchain litigation, the challenges of collecting blockchain evidence and seizing cryptocurrency, and trends in blockchain litigation.  The curriculum will also explore issues of money laundering, terrorist financing, and how economic sanctions affect blockchain.

How blockchain can be used as a method of equity financing will also be explored—a hot topic in an industry still in flux. It’s one that both the tech and legal industries are watching closely. Evan Thomas, part of the team representing 3iQ and The Bitcoin Fund is on faculty.  3iQ is the recent high-profile decision in which the Ontario Securities Commission just allowed 3iQ, a Canadian investment manager to offer the world’s first publicly traded bitcoin investment fund. The decision distinguishes decisions by the U.S. Securities and Exchange Commission, which refused to approve the listing of bitcoin exchange traded funds.

“Very good overall. Broad & deep on blockchain and crypto. Regulation is coming.”

Paul Chipperton, Director, Angel Investors Ontario, and CEO & President, Mperia Therapeutics Inc.

Participants can also engage with both crypto and legal innovation leaders, who are part of the program and often pioneering regulation in the industry. Faculty include Michael Casey, Chief Content Officer at CoinDesk ; Toufi Saliba, CEO Toda.Network former Chair ACM PB CC, Co-authored TODA/IP decentralized p2p internet protocol; Charlene Cieslik, chief anti-money laundering officer and chief privacy officer of Coinsquare, one of Canada’s most high-profile crypto exchanges; Greg Wolfond, founder of SecureKey, which is currently working with Canada’s big five banks to create digital verification based on blockchain; Addison Cameron-Huff, Ethereum’s first lawyer co-founder of Toronto Blockchain Week, and Ethan Buchman, Technical Director, Interchain Foundation, and Chief, CoinCulture Cryptoconsulting, and many others (View 2019-2020 Faculty and Program Advisors).

 

Download the Brochure, Program and Agenda

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Who Should Attend

This program is carefully designed to help lawyers, financial services and business professionals, entrepreneurs, government officials and public administrators better understand the technical underpinnings of blockchain, how it will likely interact with existing legal and financial systems, and the opportunities for innovation in blockchain systems.  The Certificate bridges a wide gap between specialist and generalist knowledge and is ideal for anyone with a keen interest in blockchain technology, including:

• Lawyers

• Business leaders in a managerial, executive or director position

• Professionals in technology, innovation and new product design

• Business leaders, managers and influencers who want insight into and knowledge of blockchain technology and examples of its uses

• Blockchain enthusiasts

• Government officials, public administrators and policy makers

• General counsel and in-house counsel

• Anti-Money Laundering professionals

• Federal and provincial regulators

• Banking and financial services professionals

• Compliance and risk management professionals

• Business owners and entrepreneurs

• Management consultants and technology consultants

• Technologists involved in deploying systems at scale utilizing blockchains and distributed ledger technology

• Anyone aspiring towards a career that will benefit from knowledge of blockchain technology

 

Not ready to complete the full Certificate? Choose to register for: Module One (Nov 28-29, 2019) OR Module Two (Jan 20-21, 2020)


REGISTER WITH 25% NCFA DISCOUNT CODE!

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NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. 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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BCSC acts to protect customers of Einstein Exchange crypto-asset trading platform

BCSC | Nov 4, 2019

bcsc2 - Podcast Strictly Legal:   Who Owns Blockchain?Vancouver – The British Columbia Securities Commission (BCSC) has taken action to protect customers of Einstein Exchange, a crypto-asset trading platform based in Vancouver.

On November 1, the BCSC applied to the Supreme Court of British Columbia for an order appointing an interim receiver to preserve and protect any assets of Einstein Exchange. The Court granted the application and appointed Grant Thornton Limited as interim receiver. Grant Thornton subsequently entered and secured the premises of Einstein Exchange on November 1.

Customers seeking information about the status of their accounts, Einstein Exchange and the receivership should email Einstein.Receivership@ca.gt.com or go to https://www.grantthornton.ca/service/advisory/creditor-updates/#Einstein-Exchange-Inc.

See:  Another Canadian Crypto Exchange Under Fire

The materials filed in court noted that the BCSC had received numerous complaints about customers being unable to access their assets on Einstein Exchange, and on October 31 had been told by a lawyer representing the trading platform that it planned to shut down within 30 to 60 days due to a lack of profit.

The BCSC has not authorized any crypto-asset trading platforms to operate as an exchange. The BCSC, along with other Canadian securities regulators, continues to urge Canadians to exercise caution when buying or selling any crypto-assets due to various risks, including the loss of some or all of their investment.

See the original release --> here

 


NCFA Jan 2018 resize - Podcast Strictly Legal:   Who Owns Blockchain? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Podcast Strictly Legal:   Who Owns Blockchain?FF Logo 400 v3 - Podcast Strictly Legal:   Who Owns Blockchain?community social impact - Podcast Strictly Legal:   Who Owns Blockchain?
NCFA Newsletter subscribe600 - Podcast Strictly Legal:   Who Owns Blockchain?

REGISTER WITH NCFA 25% DISCOUNT CODE -> BLOCKCHAIN-19 (case sensitive)


NCFA Newsletter Banner Ad Blockchain  - Podcast Strictly Legal:   Who Owns Blockchain?

NCFA Fintech Confidential Issue 2 FINAL COVER - Podcast Strictly Legal:   Who Owns Blockchain?