Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Voices
Liquid Avatar Technologies Digital Wallet Enables Consumer Use of Secure Verifiable Credentials
Liquid Avatar Technologies | Cara Buckspan | Sep 23, 2021
Toronto, Canada - TheNewswire - September 23, 2021 -Liquid Avatar Technologies Inc. (CNSX:LQID.CN)(OTC:LQAVF)(FRA:4T51) (“Liquid Avatar Technologies” or the “Company”), a global blockchain, digital identity and fintech solutions company today announces a significant update to the Liquid Avatar Verifiable Credential Ecosystem (“LAVCE”), which is theLiquid Avatar Wallet. This digital wallet will be part of the upcoming release of the Liquid Avatar Mobile App, available in the Apple App Store and on Google play, which is currently under review for release.
This downloadable digital walletenables consumers to use verifiable digital identity credentials anchored in blockchain technology that are resistant to fraud, highly secure, and privacy preserving.
Read: UK Government: Next step in plans to govern use of digital identities revealed
The Liquid Avatar Wallet unlocks a new way of issuing, sharing, and verifying information, providing immediate benefits to businesses and organizations. Businesses of all sizes can now interact with customers in a way that provides the highest level of assurance that the information shared is valid, while also preserving privacy and preventing fraud. Use of the Liquid Avatar Wallet can mean that:
- Identity and health verification can support social responsibility and the return to everyday activities.
- Credit card fraud, which is an estimated $28 Billion dollar issue worldwide, can be mitigated significantly when purchases, both online and offline, are tied to an easy-to-verify proof of identity
- Purchases that require proof of age can be authoritatively verified—and in a way where date of birth can be confirmed without disclosing personally identifiable information.
- Travel, which under pandemic restrictions involves multiple documents and in-person verification, can be streamlined into a simple one-scan verification.
- Passwords are no longer needed. All the old, cumbersome, and insecure ways of proving identity are unnecessary. Once a credential is issued by a trusted entity, it can be verified through a distributed blockchain network.
“One of the key benefits of the LAVCE and the Liquid Avatar Wallet that I feel very strongly about is that it increases value for all parties,” said David Lucatch, CEO—Liquid Avatar Technologies Inc.“
While we’ve all been keenly focused on health verifications, there is so much more that verifiable credentials and the Liquid Avatar Wallet can do. Age verification is a critical issue for those that sell restricted products and failure to do so can lead to loss of opportunity to sell a variety of products and potentially loss of income and business. The potential risks of identity fraud are constant and can be costly. We’re making this kind of verification reliable, hassle free, and low cost. That’s step one. And if we then integrate verifiable credentials with point-of-sale systems, selling restricted items to underage customers could be effectively eliminated.”
See: 6 lessons on online privacy and digital authentication
Liquid Avatar’s Wallet and credential ecosystem was built with technical assistance from Indico.tech, a global leader in decentralized Trusted Data Ecosystem development, and with the same data privacy principles and technical standards as the Province of Ontario’s plan for Digital Identity and following a similar roadmap. This means that the Liquid Avatar Wallet will be interoperable with other identity credentials built using the same guidelines. The Company as a member of the Digital Identification and Authentication Council of Canada (DIACC) is also on a path following the guidelines set out by the Pan-Canadian Trust Framework for digital identity.
“The ingenious thing about this technology is that it is custom built for a world where there are exemptions to everything,” said Lucatch “We can automate and rapidly update the most complex government or commercial requirements without placing any burden on the user. These are the keys to the future—flexibility and simplicity.
We are hopeful that the chaos of Covid will eventually dissipate, but we are moving to a world where a user’s data privacy and consent is part of everyday life. This technology delivers simple, flexible solutions on all fronts.”
To encourage future adoption, Liquid Avatar Technologies will offer a software development kit (SDK) for both iOS and Android that can be embedded in, and power different apps, for use with corporate and government portals, and other solutions to make it possible for all types of organizations to support digital wallets and verifiable credentials easily and effectively.
For more information, or to book a demonstration of the technology and how the LAVCE can assist your organization to support your reopening, health care objectives and other digital identity and verifiable credentials initiatives, please contact Liquid Avatar Technologies.
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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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Snoop Dogg Reveals He’s An NFT Whale
Decrypt | Andrew Hayward | Sep 21, 2021
Snoop Dogg has already made waves in the NFT space, launching his own branded collectibles this spring, as well as a collaboration with the creator of the popular meme, Nyan Cat.
However, the rapper’s latest move is truly unexpected: he claims to be the real person behind a pseudonymous crypto Twitter personality—one that has spent millions of dollars acquiring a very valuable collection of blue chip Ethereum NFTs.
On Monday, Snoop Dogg tweeted to his 19 million followers that he is Cozomo de’ Medici, a pseudonymous NFT collector that joined Twitter in August. Cozomo has been tweeting steadily through his NFT journey in recent weeks, discussing the large sums of money spent on popular NFT collections while displaying an in-depth understanding of the culture.
See: The Intersection of Ecommerce and NFTs: How NFT Technology is Changing DeFi
Snoop isn’t alone as a celebrity NFT collector: NBA athlete Stephen Curry, social media star Jake Paul, and comedian and TV host Steve Harvey are among the notable owners. And he isn’t even the first celebrity to create a separate crypto-centric “burner” account on Twitter: fellow rapper and YouTube personality KSI has one, for example, to keep his crypto musings off of main.
But Snoop didn’t create his NFT-centric Twitter personality in public, linked to his existing social media channels. Before he chose to reveal it to the world yesterday, it was a pseudonym first with no apparent ties to Snoop.
Also notable: Snoop appears to have a seriously valuable NFT collection. Cozomo de’ Medici’s wallet has more than $17 million worth of collectibles within, according to DappRadar’s portfolio estimate tool.
See: GBBC: Overview of NFTs (as of Q2-2021)
An NFT acts like a receipt or a deed of ownership to a provably scarce digital item, and it can represent a still image, video file, video game item, and plenty more. Other valuable holdings in Cozomo’s wallet include an NFT from photographer Justin Aversano’s Twin Flames collection, as well as a couple of Moonshot Bots, which benefit the development of Ethereum tools. Earlier this month, Cozomo even tweeted about the value of supporting Ethereum developers.
I am @CozomoMedici
— Snoop Dogg (@SnoopDogg) September 20, 2021
Continue to the full article --> here
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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Why is AI required for the future of mortgage lending?
FundMore.ai | Chris Grimes | Sep 20, 2021
The Mortgage Tsunami!
Mortgage lending in 2020 (and beyond) is set to break previous records. An estimated volume of over $4 trillion of new mortgages will be signed across North America. This increase in mortgage volume is accompanied by massive growth in refinancing, which is estimated to reach $2.4 trillion, more than twice the total of last year.
Considering the sheer volume of mortgage transactions, a vast amount of data is collected on the borrowers with each passing year. Mortgage lenders, no matter how big or small, need to harness the power of this data to make reliable predictions on the borrowers’ future behaviour.
Mortgage lenders rely on data to underwrite their loans, check eligibility, and detect fraud. The problem today is that it takes a significant amount of manual labour to extract data from paperwork. This lengthens the process and makes it costly.
What role can AI play in pivoting the future of the mortgage industry?
One of the main issues with traditional mortgage processing is its delayed response. Despite providing details up-front, a borrower must wait weeks for an approval. Analyzing customer responses and identifying the difficulties faced across different stages will help lenders streamline their application and approval process.
See: Here is why InsurTech is heating up as an investment category
Roughly 40% of lenders are already using AI in some capacity within their organization. We can expect automated underwriting systems to predict the probability of default for individual borrowers. The detailed review processes for loan approvals can be compressed into hours, facilitating a better decision-making process for lenders and other parties (such as insurance providers).
Future AI programs will utilize data points and indicators outside the mortgage application process (such as social media activity, geo-location, browsing patterns, and other online behaviours) to assist in lending decisions.
Streamlining and improving lending practices
AI helps financial technology (fintech) lenders underwrite loans faster than their traditional counterparts, as revealed in a 2018 study conducted by the Federal Reserve Bank of New York. While most fintech firms don't disclose the exact process, the following is what it may resemble.
Machine learning allows lenders to capture and analyze vast amounts of accurate data and channel it through automated work processes. It also helps lenders identify discrepancies in data, assess loan quality and detect aberrations throughout the loan origination & due diligence process. This allows underwriters to minimize time spent on each file and invest more energy in managing exceptional cases.
See: How Fintech is Changing the Mortgage Industry
In the case of missing data, an automated system communicates directly with the borrowers, collecting the necessary information. The system may require human input, but as machine learning gets better trained by larger datasets, it will become more accurate. In short, machine learning will automate tasks that were once performed by their human counterparts.
High-value datasets can be "sliced and diced" to obtain critical insights into current operations, design and implement workflow improvements, and eliminate potential problems related to lending practices.
Intelligent capture technology will also allow mortgage lenders to address one of the most critical challenges: high staffing costs. With advanced AI tools, streamlined processes and staff efficiencies can substantially decrease the cost of loans while delivering a more satisfactory borrower experience. In the foreseeable future, sophisticated AI programs will facilitate automation of the decision-making process throughout the loan's lifecycle.
What does this mean for the future of mortgage lending?
A personalized and superior customer experience! In addition to achieving operational efficiency, mortgage lenders will become consumer-friendly.
Several financial institutions (traditional and fintech) are using AI to enhance customer experience. Using the right datasets, it is possible to create an application form that can respond intelligently to clients, adapting to previous answers.
Read: What Industries Use Blockchain the Most?
AI modelling can help predict which potential clients should receive more attention from their marketing team in order to close the sale. This helps boost revenues and brings down the cost per unit. Focusing on stronger opportunities allows for targeted resource allocation and eventually produces greater results at lower costs. The savings achieved through these efforts can be passed on to clients in the form of lower rates, which in turn can help lenders increase their market share.
While AI has made substantial progress in the past decade, current technology is merely scratching the surface of innovation in the mortgage lending industry. The ongoing race to advance the AI-driven mortgage lending process is a big win for fintech, lenders and consumers.
Authored by:
Chris Grimes, CEO & Co-Founder of FundMore.ai has over 15 years of experience in the mortgage and lending space. Seeing an opportunity to automate many of the tasks within his company LoanDesk.ca, he realized that he could build a great aggregation tool that leveraged artificial intelligence and provide a full end-to-end lending platform.
This article appears as a featured article in NCFA's digital magazine, Fintech Confidential. Click to read the latest thought leadership, insights and trends about Fintech in Canada:
Checkout NCFA's digital magazine, Fintech Confidential (Issue 3) --> here
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
Creating Sustainable Wealth Through Digital Finance
E2 Management Corporation | Lynn Johannson | Sep 20, 2021
We live in interesting times. We have extreme weather events, social disruption in part driven by a global pandemic and by the dissolution of trust in institutions, and financial disruption. ‘Perfect storm’ may be an overused term, but combining ecological, social, and financial stress does provide the makings of a perfect storm.
While all three need to be addressed with better performance, patience and prudence, there are some critical differences. For example, while you may have the potential to refinance a loan or a mortgage, there is no option to refinance ecological debt, nor social debt.
See: CFA Institute launches a first of its kind globally, a new ESG investing qualification
However, there is also an incredible opportunity that may be likened to a Phoenix rising. It is the convergence of sustainable finance, the democratization and naturalization of capital markets enabled by digital finance, and your opportunity to apply your wealth to a better, greener economy.
Sustainable finance generally refers to the process of taking environmental, social and governance (ESG) considerations into account when making investment decisions in the financial sector. This is leading to increased longer-term investments into what is supposed to be sustainable economic activities and projects. Some refer to this opportunity as green finance, which I will address below.
There are three layers of wealth. Think of a pyramid shape.
The foundation of all wealth, without exception, comes from the planet. Everything we use, grow, build, or buy - energy, food, homes or cars - comes from the planet as provided by Mother Nature. Think of her as the president of the planet. Her terms and conditions, her rules, override all regulations.
Secondary wealth is derived from the things we make from primary wealth. Ore becomes steel, plants become your dinner, trees are used to make lumber, paper, etc. Because we do not follow the rules set by Mother Nature, the conversion is 96% inefficient. Some experts say that is low, and it’s really 98%. Simply stated, that means for every $100, you are getting $4 or $2 of value.
The final layer, tertiary wealth are all the paper abstractions that we layer on top. Tertiary wealth is entirely dependent on the primary level being healthy, and rests precariously on top of the pyramid, only kept in place by trust. When we put the primary layer of wealth at risk by our decisions or actions, you can see where this is going.
Planetary Boundaries from 1950 to Present
The Stockholm Resilience Centre has estimated how the different control variables for seven planetary boundaries have changed from 1950 to present.
We are in the red on three critical variables, and this is causing instability in ecosystems, social systems and risk, including stranded assets. What may be surprising to many is that with all the concerns posted in the media, the push for disclosure on climate-related financial risk, climate change is still not the biggest crisis according to experts. It’s the loss of biodiversity. It’s the impact our way of doing things had burdened our ecosystems with nitrogen and phosphorus. So not as much a tragedy of the horizons as stated by the former Chair of the Financial Stability Board, Mark Carney, but a tragedy that’s in our face, but that we are not managing.
See: The evolution of ESG: Corporate sustainability leaders in the financial services sector are taking on new responsibilities
I find it extraordinarily perverse that the decisions and actions we continue to make, which diminish the quality of our lives today, and certainly undermines the quality of life for our children and our children’s children, we seem to be okay with. Perverse, yes, but predictable. As early as 1738, Dutch polymath Daniel Bernoulli figured it out, and this was echoed in a Ted Talk by behavioural expert Dan Gilbert who said “the expected value of any of our actions -- that is, the goodness that we can count on getting -- is the product of two simple things: the odds that this action will allow us to gain something, and the value of that gain to us.” So, basically we overvalue what we have in our hands today, and undervalue what the future holds. Part of this challenge may be that we mistakenly trust other people to manage our money, and at a cost to us that is no longer necessary.
Digital Finance Opportunity
Digital finance offers a range of values that is only starting to be understood by the market. And in the time and space remaining I can only hint at some of the opportunity. Digital finance and the value it offers to greening finance deserves a much, much deeper discussion (and one that I hope NCFA will enable). The democratization of capital markets offers individuals the opportunity to direct their tertiary wealth to the things that matter to them. It means that every dollar, peso, euro, can be a vote and support an action to bring human endeavours back within the boundary conditions necessary for a quality of life that is sustainable.
A group of entities, including the World Gold Council, The Silver Institute, the European Central Bank and others, stated that the value of the global money supply was 600 hundred times higher than the value of new gold coins minted in 2019. In the first six months of 2020, digital currencies increased 1,600 times over minted coins. While any currency carries a carbon and a broader environmental footprint, digital currencies, assets and the communities that power them offer access to new pools of capital at a lower costs while reducing intermediaries and excessive fees found in traditional banking. New consumer-centric financing models offer consumers choice and enable them to vote directly with their dollars that can lead to lower environmental impacts.
It is important to note that digital currencies are not risk-free; a power failure, cell tower outages, bad reception in rural areas not well served by the internet, extreme weather; these are some of the unintended consequences that come with a transition to digital.
On-demand Video: Mayday: Fintech’s Opportunity to Breaking to Breaking Barriers to Net Zero
But if money talks, with digital finance you could make it walk in the direction you want it to go to match your values aligned with a better, greener economy. If money makes the world go round, digital currency could enable you to drive initiatives that are part of a circular economy, or products and services that fit into the ecosystem where you live and work.
So, whether you are buying a product, engaging services, investing in a project, asset or an activity, look at the investor or purchaser in the mirror.
The first question that you should ask is “have I taken into account the environmental impact or environmental performance of the product, the asset or activity?” If not, think again? The choice is yours and the power of change is within.
This article appears as a featured article in NCFA's digital magazine, Fintech Confidential. Click to read the latest thought leadership, insights and trends about Fintech in Canada:
Checkout NCFA's digital magazine, Fintech Confidential (Issue 3) --> here
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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Securing Invoice Factoring As A Small-Business Owner, Expectations vs Reality
Forbes | | Sep 10, 2021
Payson Johnston is the CEO and Co-Founder of invoice finance marketplace Crowdz, helping SMEs get paid faster and access working capital.
For most enterprising Americans, running a small business isn’t a walk in the park, especially during a pandemic. With the fundamentals of how we conduct business changing seemingly every week, hardworking SMEs have adapted with new strategies to stay afloat, from bodegas and family restaurants introducing online shopping to dance studios offering remote classes.
With banks tightening lending criteria and government stimulus incentives requiring mountains of paperwork, SME owners have looked to alternative financing methods to fuel their most critical growth cycles and reach new milestones, from expanding product lines to growing their team.
See: ASC and FCAA adopt new prospectus exemption to support small business capital raising
Alternative financing options like invoice finance (or receivables finance) have emerged as a boon throughout the pandemic, despite existing in various forms, similar to factoring, for decades. Lower barriers to entry and reduced overheads have led to the proliferation of easy-access options and platforms, meaning private funding for communities is increasing as more investors and organizations realize their bottom line can support communities and drive returns.
As a leader in this space, I’ve witnessed some common misconceptions, or expectations, that make it unclear how invoice financing offers an alternative option to secure financing. Invoice financing isn’t new, but it has become more popular, particularly during the pandemic, because this method generally allows businesses to exchange unpaid invoices for instant cash, which is then repaid when the original invoice is settled by the customer.
Expectation: I need a high credit score or an established business to access finance.
Reality: So what happens if your business is young, hasn’t previously needed credit, or is deemed “riskier” by discriminatory lenders? Though there are many plausible reasons a responsible business may have a credit score in its infancy, it automatically rules out their lending options, right?
Read: The Intersection of Small Business, Tech and Our Financial Ecosystem is More Important Than Ever
Not quite. Invoice financing fast-tracks money you’re already owed, so the risk factor is reduced for the funder and makes highly leveraged credit lines redundant.
Some providers are also developing new risk assessment models to improve equitable access to finance. Businesses with timely repayment habits or creating positive impacts in their communities are incentivized with better rates. Further, initiatives like the Facebook Invoice Fast Track program specifically focus on improving access to finance for diverse and minority-owned businesses with the commitment of buying $100 million in outstanding invoices.
Expectation: Invoice finance is the last resort for failing companies.
Reality: Alternative finance providers have historically been seen as the final hope for businesses with nowhere else to turn other than high-interest, non-bank providers to bail them out. But the tables have turned. With the proliferation of fintech disruptors and the contracting risk appetite of banks, alternative finance options have become a tool for companies who need access to instant and reliable sources of working capital.
Within five years, 45% of businesses shutter, and for startups, this rate is worse, with over 90 percent eventually biting the dust. A study from U.S. Bank revealed for 82%, the biggest reason for failure is cash flow mismanagement.
Continue to the full article --> here
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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Bitcoin Tumbles on Evergrande Bond Obligation Struggles
TheStreet | Rob Lenihan | Sep 20, 2021
Bitcoin and other cryptocurrencies are battered as China Evergrande Group struggles with bond obligations.
Evergrande, China's second-largest property developer, has more than $310 billion in debt.
The company has held urgent talks with of its many creditors in hopes of delaying payment on two separate bond obligations due later this week.
Evergrande has been caught in a liquidity squeeze that could see it both fail to meet bond obligations and fall into bankruptcy proceedings. That in turn could trigger the forced sale of hundreds of commercial properties.
"Record amounts of bitcoin have been taken off exchanges, with levels being at their lowest point in the past 12 months," he said. Low liquidity typically leads to choppy price volatility, which can easily swing in either direction."
On the regulatory front, Winston Ma, a former managing director and head of North America at China Investment Corp., said China seemed to be sticking to its original schedule to officially launch its digital currency (e-CNY) at the Beijing 2022 Winter Olympics."
"Since [the] People’s Bank of China issued its digital currency white paper in July, China has accelerated the testing of e-CNY," said Ma., author of "The Digital War - How China’s Tech Power Shapes the Future of AI, Blockchain and Cyberspace."
See: Three Big Things: The Most Important Forces Shaping the World
Chinese media reported last week that a PBoC team visited Beijing 2022 Winter Olympics sites to further test e-CNY ATM and mobile payments, in what’s described by PBoC Vice Gov. Fan Yifei as the "final push,” Ma said.
He added that the West finds hard to grasp the idea that China is many years ahead of the US and Europe in developing sovereign digital currencies.
Ma said that China’s launch of e-CNY as government currency, together with El Salvador’s adoption of bitcoin as legal tender, "will become important reference cases for all nations stepping into digital assets," Ma said.
Continue to the full article --> here
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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Cardano founder Charles Hoskinson discusses ‘bitcoin maximalism’ and ‘real-fi’
Yahoo Finance | Camomile Shumba | Sep 18, 2021
Cardano founder Charles Hoskinson believes no one blockchain will dominate the crypto sector, but rather, there will be an "internet of blockchains." The network recently underwent a major upgrade that gave it the ability to host smart contracts and other applications like non-fungible tokens.
Its native ada token has gained nearly 1,250% this year, and is now the third-largest by market capitalization, behind bitcoin and ether.
Hoskinson recently spoke with Insider about the key alonzo network upgrade, the future of decentralized finance and how smaller blockchains like cardano haven't yet seen the benefits of institutional investors jumping on the crypto bandwagon.
See: Is Staking Crypto The Same As Interest?
He covered a variety of subjects, ranging from maximalism in the crypto space, welcomed more "quality standards" for networks and even spoke about his upcoming tour in Africa - the world's third fastest growing crypto economy.
Select Top Quotes from the interview:
- "The other thing is DeFi needs to turn into 'real-fi' and needs to grow up, so that means it needs governance and true decentralization. It needs to have metadata standards, it needs to have quality standards, it needs to have real customers, it needs to have identity built in, all these types of things." - on what decentralized finance needs to mature.
- "Almost all [Cardano's] growth has been like bitcoin - organic, and it didn't have some centralized driving force that was doing market-making deals behind the scenes. Now that was a double-edged sword, it meant it took a hell of a lot longer for us to get listed on Coinbase." - on the challenge of purely organic growth.
- "(Institutional investors) tend to only buy bitcoin - but they're starting now to use utility impact, environmental concerns and other things as investment criteria, which excludes bitcoin." - on investor reservations over bitcoin. So then they have to move down the line and actually have to go with proof of stake systems and we're the largest. So we think we should get the lion's share of those allocations." - on cardano's edge over its competitors.
Continue to the full article --> here
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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