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
OpenAI’s U.S. Economic Blueprint and Takeaways for Canada
AI | Jan 15, 2025
Image: AI in America Report cover (OpenAI's Economic Blueprint)
In the Face of Tariffs, OpenAI's Blueprint for America Highlights Opportunities for Canada to Rethink its AI Strategy
At the start of the week, OpenAI published a 15 page PDF overview of 'AI in America: Economic Blueprint' outlining its take on how the United States can lead artificial intelligence globally with a focus on chips, data, energy, and talent 'oh my' (remember that verse from the Wizard of Oz?). Those foundations of AI leadership are aligned with said overarching goals being competitiveness and security, regulation (rues), and infrastructure. As the U.S. presses forward, Canada should feel the urgency to compete and should rethink it's actionable AI strategies, especially as the threat of 25% tariffs cloud economic trade relations. This article reviews the blueprint and looks at actionable strategies for Canada to consider.
U.S. Blueprint for AI Leadership
The report talks about foundational pillars that will help focus resources to drive AI innovation while sustaining global competitiveness.
1. Chips - Building blocks of AI
There's a reason why NVIDIA and other chip companies are in hot demand. At the heart of every AI system is the required hardware like chips and semiconductors to allow AI models to process enormous amounts of data and lightening speed. The U.S. recognizes this and in addition to the latest restrictions on chip exports has passed the CHIPS Act investing USD $52 billion rebuild the domestic U.S semiconductor industry to reduce reliance on foreign suppliers and improve supply chain resistance. The CHIPS Act also includes federal incentives to encourage companies to set up top notch chip production plants. The blueprint also advocates for creating economic zones focused on semiconductor R&D to boost innovation and jobs. These initiatives are to avoid hardware bottlenecks that could slow innovation while boosting competitiveness in the global chip market.
2. Data - Fuel for AI systems
AI models are only as good as the data they are trained on, which is a concern given Elon Musks' recent announcement about human data for AI being depleted. Further, human data needs to be high quality and diverse to enable breakthroughs in sectors like healthcare, transportation or finance. Data is not just the 'new oil' but it's a strategic asset that individuals, companies, and governments around the world want to control to drive innovation and economic growth.
See: Canada Aims to Regulate AI in Search & Social Media
The U.S. government is mobilizing large amounts of public data for use in AI development with open data initiatives like data.gov and supporting the creation of data standards and protocols to ensure interoperability and security. Government, academic and industry partnerships are being encouraged, and tech giants are creating ecosystems where private data can be used responsibly like Google AI and Amazon's commitments.
3. Energy - Powering AI Sustainably
Like Bitcoin (crypto), AI processing to train large language models or handle transactional queries consumes a staggering amounts of energy, sparking discussions around the need for sustainable AI. To address this challenge, the U.S. is integrating clean energy into its AI infrastructure by investing in renewable energy projects and using AI itself to optimize energy grids to reduce carbon footprints while scaling operations. President Biden just days before leaving office, signed an order to expedite resources to support AI data centers. Partnerships are encouraged to pioneer green AI infrastructure that balances growth with environmental sustainability.
4. Talent - Human Ingenuity of AI
Even in the era of AI agents and the agentic web, AI systems can't really function without human creativity and the people who designed and built it. Top talent is the lifeblood of innovation including AI. The U.S. offers programs like the H-1B visa and world class universities which attract skilled engineers and data scientists and is a hub for global AI talent. The report suggests targeting immigration policies to attract AI professionals. Reskilling programs need to be funded to transition displaced workers from automation into AI-related jobs. Support for entrepreneurship in AI via grants, accelerators and public-private innovation hubs.
Early Reactions
The economic blueprint has sparked discussion online from policymakers to industry experts and leaders. Many have lauded the blueprint for its approach to maintaining U.S. competitiveness via economic zones. Some are warning that such a strong focus to counter China's AI advancements may escalate geopolitical tensions, hurting global collaboration. Overall, the blueprint represents a 'think big' and ambitious vision but raises key questions about national priorities, energy sustainability and global cooperation.
Takeaways for Canada
- Ethical leadership as a differentiator - Canada has a positive, global reputation for ethical AI and can use that to differentiate itself globally by advocating for AI systems that prioritize transparency, fairness, and accountability. This would attract more international collaborators and funding and boost Canada's leadership in ethical AI governance and responsible AI development.
- Infrastructure investments - Canada should address gaps in infrastructure to compete effectively by investing in renewable powered data centers and forming strong partnerships with semiconductor manufacturers. Canada can use its abundant renewable energy resources to develop green AI infrastructure and double down on its commitment sustainability.
See: Canada’s $300M AI Funding Targets SMEs for Growth
- Attract and develop talent - Canada should be expanding it's global talent stream and offering incentives to attract and retain AI professionals to combat brain drain as a result of recently tightening immigration policies and university caps. Funding should be mobilized to support AI education programs and reskilling initiatives to ensure a robust talent pipeline and to manage displaced workers by automation.
- Diversity partnerships with strategic trade alliances - build AI specific trade agreements with the U.S. to amplify cross-border collaborations with shared innovation in mind. Diversify global partnerships with the EU, Japan and other emerging economies to reduce reliance on a single market/U.S.
- Public-Private collaboration - continue and strengthen partnership between government and industry to grow and scale AI solutions in key sectors impacting Canada from healthcare to finance and agriculture. Bridge the gap between research and commercialization to help Canadian companies compete globally.
Conclusion
As the U.S. accelerates its AI ambitions, Canada must adapt its strategy to its unique advantages and challenges to secure its AI future.
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, artificial intelligence, 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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BlackRock Expands IBIT Bitcoin ETF Offering in Canada
Crypto | Jan 15, 2025
Image: Freepik/pvproductions
BlackRock LaunchesiShares Bitcoin ETF (IBIT) in Canada on the Cboe Exchange
BlackRock, the world's largest money manager, certainly understands the phrase 'strike while the irons hot'. With $11.6 trillion in assets under management (AUM), influence and credibility, they are dominating a wide range of investment products especially its iShares ETF brand.
Last year, along with various other players, BlackRock launched it's leading spot bitcoin iShares ETF in the U.S. which has attracted USD $50 billion since launching in January 2024. Building off that success, BlackRock is now launching its popular Bitcoin exchange-traded fund in Canada on the Cboe Canada exchange, giving Canadian investors another regulated option to gain exposure to the world's most prominent cryptocurrency without having to deal with the complexities of managing digital wallets and security concerns.
See: BlackRock Launches New Fund on Ethereum, Bullish on Tokenization
The Canadian version of the iShares Bitcoin ETF will trade under the ticker symbol IBIT in Canadian dollars, on the Cboe Canada exchange (Note: IBIT.U is in USD) and mirrors the performance of Bitcoin with a 0.32% annual management fee. Bitcoin's asset type is classified as a 'commodity' on BlackRock's IBIT page, with the fund currently holding CAD $23.8 million in net asset value.
Robert Mitchnick, Head of Digital Assets at BlackRock said in an interview with Bloomberg:
“It’s about bringing access… to Canadian investors. Canada is a market where we feel like there is a significant opportunity. We’ve seen this resonate with all manner of investor types. It has the potential to be a unique diversifier.”
Investors Should Consider
Bitcoin has been one of the best performing asset classes in recent years and many crypto investment experts believe Bitcoin is expected to appreciate further in 2025 with potentially favourably regulatory policies under a new crypto-friendly U.S. administration under Trump, further increasing institutional adoption.
Canada has long been recognized as a leader in cryptocurrency investment innovation and was the first country to approve Bitcoin ETFs globally, setting the stage for wider adoption among individuals and professional investors.
See: How Fintechs Are Unlocking Value in Private Markets 2024
Although investing in crypto ETFs like IBIT make it super easy to back Bitcoin, prospective investors should understand that investing in cryptocurrencies is very high risk with significant price volatility.
Why It Matters
More regulated ETFs approved equals more adoption and acceptance of cryptocurrency as a mainstream asset class and investment option.
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, artificial intelligence, 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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Book: The Law for Founders – Protecting Your Startup
NCFA Advisor Book | Jan 9, 2025
The Law for Founders by John Wires 💡 Essential Read for Every Canadian Entrepreneur
The National Crowdfunding & Fintech Association (NCFA) is thrilled to shine a spotlight on one of our founding members and esteemed advisors, John Wires (JW), as he launches a must read book for every Canadian entrepreneur, "The Law for Founders" or as we like to call it Founder Law. It's a toolkit to empower founders, entrepreneurs, and innovators to 'stick handle' the legal and strategic challenges involved with building a successful business.
About the Author
Author, John Wires
John Wires is a champion of innovation and seasoned Canadian corporate lawyer since 2013 (the year we met). JWs friendly, fair, and direct approach combined with a deep understanding of both the legal and entrepreneurial landscapes made him a cornerstone of the NCFA community in the early days. At that time, we learned that JW played in the Ontario Hockey League (OHL), a very high level of hockey. It taught him how to battle and compete to win. A trait that many high level athletes transfer into successful business careers and ventures. Since then, he's dedicated his career to helping entrepreneurs reduce legal risks, close successful deals, and build thriving companies in a multitude of high growth tech, e-commerce, and digital media sectors. Now, with Founder Law, he's sharing his expertise in an accessible and actionable format that promises to inspire and guide founders at ever stage of their journey.
Why This Book Matters
Entrepreneurs face countless challenges when launching and running their businesses. Unfortunately, many founders avoid key legal concerns until it’s too late, leading to costly mistakes. The Law for Founders is packed with practical legal advice tailored to the unique challenges of building and scaling a business in Canada, and is designed to equip founders with the tools they need to succeed.
What You’ll Learn
The Law for Founders dives deep into the critical topics that every founder must master, blending legal expertise with relatable stories and case studies:
- Choosing the right legal structure
- Raising capital and using holding companies
- Negotiating founder and shareholder agreements
- Securing intellectual property rights
- Hiring and firing employees
- Preparing for mergers, acquisitions, and exits
With nine chapters and 237 pages of insights, this book is a comprehensive resource for navigating the legal landscape of Canadian entrepreneurship.
Who Should Read This Book?
- Aspiring Founders > Gain confidence and clarity as you turn your idea into a revenue growing business.
- Startup Entrepreneurs > Learn about the legal complexities of early-stage ventures, from incorporation to employment law.
- Scaling Businesses > Protect your intellectual property, secure funding, and prepare for expansion or exit with the right legal strategies.
- Advisors and Business Professionals > Enhance your ability to support entrepreneurs by understanding their legal needs.
Special Discount for NCFA Readers
As a member of the NCFA's community, JW is offering a 25% discount on any digital version (PDF or EPUB) of the book. Simply use the code “NCFA” at checkout when you purchase:
- Buy Digital for $25
- Buy Paperback for $32.99
If you’re serious about building a successful business, The Law for Founders is a resource you can’t afford to miss. Grab your copy today, protect your vision, and take control of your entrepreneurial journey.
Buy the book with 25% discount code 'NCFA' --> 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, artificial intelligence, 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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Implications of Meta’s Fact-Checking Exit
Meta | Jan 8, 2025
Image: Freepik
Meta is Ending Its Robust Fact Checking Program to Prepare for Trump's Administration - Here's What It Means
Mark Zuckerberg, Founder Chair CEO of Meta posted a surreal video announcing the end of its professional fact-checking program (or was it simply an AI deepfake!). This means that on Facebook (Meta), Instagram, and Threads instead of having expert content moderators who work to remove toxic content, Meta will be using a crowdsourced approach called 'Community Notes' (similar to X) where users can add context/comments to posts. Meta will also loosen restrictions on controversial topics like gender identity and immigration that are often censored.
See: Kevin O’Leary’s TikTok Bid – Privacy and Innovation
Why the sudden change? Well in the video below Zuckerberg is prioritizing free expression and decentralized governance, however for many such drastic move looks more like a strategic decision to align with incoming President-elect Donald Trump and his administration's political interests and to reduce operational costs.
For Canadians, the sudden exit from fact checking is taking place as Meta continues to block Canadian news content in defiance of Canada’s Online News Act (Bill C-18). Combined, these decisions raise legitimate concerns about the potential of spreading misinformation and eroding informational trust on the platforms.
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Why Meta is Ending Fact Checking
Zuckerberg argues that 'fact checkers' are by nature politically biased, harming user trust (sound like a page from you know who?). He goes on to say that a crowdsourced approach is a more democratic way to correct misinformation.
Critics of such a community note system say that it's often slower and less reliable than a robust internal content moderation program, and they fear that misinformation could go viral before users add any corrections.
See: Meta’s Vision to Swarm Facebook With AI Users
After Elon Musk introduced 'Community Notes' on , hate speech increased by 50% and transphobic slurs rose by 62%. Advertisers of course didn't like their brands being associated with such toxic negativity and pulled back on spending, reducing ad revenue dollars and reputation.
Concurrent to this, Meta will also be relaxing content moderation rules to promote free speech. So fewer posts will be removed even if they are about sensitive topics or politically divisive issues that could spur hat speeches and conspiracy theories.
Likely Results of Meta’s Changes
Without fact-checkers, false and misinformation will spread faster than today and be harder to counter. Viral conspiracy theories and harmful posts will only increase. Such misinformation can cause harm in real life like encouraging violence or distrust of public institutions. Lies about health, elections or even immigration could have serious consequences.
As trust on Meta's platforms erode, many users will seek alternatives and safe havens that prioritize verified information. Different competing platforms like TikTok or decentralized networks like Mastodon could attract more users, if they offer stricter content moderation.
See: Chatham House: Global Digital Platform Regulation Insights
Governments may be forced to increase regulations to hold platforms accountable for spreading misinformation (similar to the EU's Digital Services Act or Canada's Bill C-18).
Closing Thoughts
Will other platforms follow Meta’s lead or seize the opportunity to differentiate themselves as trusted sources? The credibility of access to trustworthy information is at risk or does the crowd know best? Combined with Meta recently announcing their plans to release more AI personas into the wild (who hallucinate with wrong and unchecked content) we can only conclude with the caveat 'READER BEWARE', (and parents of young readers beware) vulnerable folks stay safe.
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, artificial intelligence, 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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Into the Mind of Sam Altman’s OpenAI Journey
Sam Altman | Jan 7, 2025
Image courtesy of AI
Sam Altman's Reflections on Leadership and AI (ChatGPT is 2 Years Old)
On January 5, 2025, Sam Altman shared reflections on AI innovation, leadership, and organizational growth since ChatGPT became just two years old over a month ago. His post offers a few profound lessons drawn from his own journey at OpenAI that will surely only apply to a handful of high profile tech entrepreneurs/investors innovating the most impactful technologies of our lifetime (perhaps). Let's break it down and enter the mind of Sam Altman.
Select Quotes and Insights
"Expect significant advancements in the next few years, but don’t be surprised if some of them come with unexpected risks."
Altman knows rapid advancements are inevitable in the world of AI but he also rightfully knows that he is unsure about the unexpected challenges that such advancements may bring. It's a cautionary note to humanity that is to prepare governments and organizations to remain proactive and diligent in terms of governance and control. In finance, this could mean a black swan event. In terms of humanity, as the saying goes, 'expect the unexpected.'
"We know how to build AGI and are working on it. AGI could help address humanity's biggest challenges—from climate change to curing diseases."
Altman seems confident in the milestone of achieving Artificial General Intelligence (AGI) and that it's within reach in just a few years. He sees AGI as a transformative tool that will tackle/solve major global challenges like climate change and curing disease.
See: OpenAI’s Latest Updates Stock Sale, Lawsuit & Innovations
To put it in perspective, the attainment of AGI would be beyond innovations like 'fire' or the invention of the 'lightbulb'. AGI would go beyond just enabling new technologies but could also actively create, optimize and manage them, autonomously redefining the concept of productivity while making decisions across all sectors. It's akin to the agricultural revolution that evolved humans from hunter-gathers into more complex societies. AGI would be a moment where intelligence itself becomes a scalable resource and might only be comparable to becoming conscious of life itself and humanities role in it. AGI would move humans past solving problems such as survival and into the realm of how we perceive and live our own existence or intelligence/progress.
"AI agents are coming, and they will transform industries."
A lot has been written about the agentic web and how AI agents will be 'released', goal orientated and capable of managing tasks and projects in its entirety that would game-change the way businesses operate today. The media is already calling these autonomous and highly logical bots 'virtual employees' that Altman predicts will become available in 2025, opening up new possibilities. NCFA touched upon this a while back, see: Bracing For Change In The Era Of The Augmented Workforce
"Co-evolve with the technology. There is still so much to understand, still so much we don’t know, and it’s still so early."
Reading between the lines, Altman is hinting at that as AI evolves, humanity must adapt alongside it (he doesn't say what if we don't want to co-evolve however). Remaining open-minded while continuously learning is essential to ensure the tech benefits society holistically without leaving large swaths of groups behind.
See: OECD-FSB Discuss New AI Trends in Finance
"Teams tend to turn over as they scale, and OpenAI scales really fast."
Altman is referring to the challenge that as companies grow quickly team dynamics can change, causing a lot of turnover while trying to focus on a direction.
"When any company in an important industry is in the lead, lots of people attack it for all sorts of reasons, especially when they are trying to compete with it. Getting fired in public with no warning kicked off a really crazy few hours, and a pretty crazy few days."
Altman is referring to his public firing and the chaos that followed. He sees it as a breakdown of governance and communication (of well intentioned people). It's a high pressure leadership role in a competitive environment under constant scrutiny. There's a need for better ways to handle such crises.
Emotional Quotient
Altman's reflections say that he's a self-aware leader who is quite transparent about his challenges. He admits mistakes and learns from them while remaining committed to long term goals showing a high degree of emotional intelligence, if not resilience.
See: Meta’s Vision to Swarm Facebook With AI Users
His governance issues indicate the need for more proactive leadership to better manage such rapid growth and public scrutiny. Altman comes off as being vulnerable yet optimistic which people can relate to making him an inspiring tech leader.
Outlook
Altman's thoughts point to a future where AI upends industries and challenges traditional leadership and technology. AI's potential to solve humanity's greatest challenges relies on the ability to balance innovation with responsibility. Organizations must be willing to evolve and prioritize strong governance and ethical practices.
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, artificial intelligence, 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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Kevin O’Leary’s TikTok Bid – Privacy and Innovation
Privacy | Jan 7, 2025
Image from Kevin O'Leary's crowdfunding campaign
Kevin O'Leary Wants to Buy TokTok to Protect Privacy and National Security
In 2024, President Biden signed a law that mandates Chinese-owned apps operating in the U.S. posing security risks to be either sold to American entities or be removed from app stores. The law is expected to hold up in Supreme Court so several groups are making high profile bids to acquire the U.S. assets from TikTok's Chinese parent company, ByteDance, including Shark Tank's Kevin O'leary (and partner Frank McCourt), former Activision CEO Bobby Kotick and various investment syndicates all keen to capitalize on TikTok's massive user base and engagement. O'Leary and McCourt's bid is being called the 'people's bid' and they even setup a sold out investment crowdfunding campaign of 'expression of interest' on Start Engine that launched when it became clear that TikTok U.S. would be sold off.
More Than Ownership
O'Leary says the acquisition is about the 'mission' to protect the privacy of 170 million American users and to focus the platform on people instead of algorithms. He also highlighted the role of the inbound Trump administration signaling that President-elect Trump could expedite the regulatory approvals to ensure the platform is transitioned to American ownership to address national security concerns, politicizing the deal.
See: TikTok Finance: Lessons from Viral Chase Bank ‘Glitch’
Kevin O'leary tweeted on 'X':
"This isn’t just about buying TikTok’s U.S. assets. It’s about something much bigger: protecting the privacy of 170 million American users. It’s about empowering creators and small businesses. And it’s about building a platform that prioritizes PEOPLE over algorithms."
TikTok as a Financial Hub
Fintech influencers called 'finfluencers' in social media circles have established TikTok as a hotspot for short videos that simplify complex topics like investing, budgeting and financial literacy, especially among young audiences. Hashtags like #finance are drawing billions of views with strong demand for financial education indicating TikTok's a space where fintech companies could thrive with millions of engaged users presenting an opportunity to integrate financial services into a social platform for new generations. The experience could also include secure payment systems and tools to support creators in managing their oodles of cash.
The Privacy Factor
Although the economic potential of TikTok is significant, O'Leary's bit is positioned around protecting privacy and potential misuse of personal data. O'Leary is partnering with Frank McCourt Founder of Project Liberty (see press release with more details) with plans to implement open-source technologies into TikTok's platform (given that any takeover bid would exclude the proprietary algorithm it uses today) so users can control their own digital identities, establishing a new standard for privacy in social media.
See: US Financial Surveillance Report Shows Privacy in Crisis
Frank McCourt, Founder Project Liberty:
"It's clear that our visions for a people-centered, American-owned platform are closely aligned, and our combined efforts will give a significant boost to The People's Bid as the January 19 deadline for a sale of TikTok quickly approaches. Kevin and I, along with the thousands of supporters who have come forward to back The People's Bid, firmly believe we can build a better TikTok – one that protects our national security and becomes a safe, secure platform that millions of people on the app will trust. We look forward to working with President-elect Trump to save TikTok."
Not Without Challenges (of course)
The 'people's bid' would have to rebuild TikTok's 'addictive' algorithm that makes it so successful, which wouldn't be part of the sale, and could pose some development challenge at the risk of losing user engagement. Also the deal needs regulatory adornment from both the U.S. and Chinese governments.
See: Fintech Trends & Predictions Across Generations in 2025
Outlook
As Jan 19 quickly approaches and despite these challenges, imagine a TikTok with integrated financial tools that could katipult the company to the forefront of fintech innovation and leadership while focusing on users that prioritize privacy, personal data ownership, and ethical data practices. One to watch.
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, artificial intelligence, 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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Fintech Trends & Predictions Across Generations in 2025
Fintech Trends | Jan 6, 2025
Image: Freepik
Fintech Trends and Insights Influencing Alpha, Gen Z, Millennails, Gen X, and Boomers
As you can imagine, attitudes and behaviours around tech and money are constantly evolving! Attention spans have dropped to 8.25 seconds on average, so many companies and marketers rely on quick hits or bite-sized interactions. Meanwhile, a monstrous record of $68 trillion in wealth is being transferred to younger generations which will alter the financial landscape. Fintech platforms are now indispensable with a growing number of active adults across all generations relying on fintech apps for investment advice and financial planning, offering a range of tools and educational opportunities. This article takes a look at how financial technology trends are servicing and changing generational preferences with regards to money, and a few predictions of what lies ahead.
Gen Alpha (born 2010-2024)
Kids are becoming more financially aware at an earlier age with 41% already saving money for purchase goals like a car, college or even a house (2000 kids surveyed from 6-14 years old). These kids are digital-first minded and tend to get their info from platforms like YouTube and TikTok. Also, parents are increasingly turning to online resources and digital tools to learn and teach their children about financial literacy. Believe it or not, a recent survey showed that 81% of children learn some financial skills from video games (think: gaming economies, currencies, and digital wallets), highlighting how tech is impacting financial habits. Gamified fintech apps like Mydoh are forging new avenues for financial education. These platforms provide interactive financial lessons on saving, spending, and budgeting to kids and teams to nurture financial independence from an early age.
See: A Fintech Survival Guide to Understanding Gen Z Finance
NCFA predicts that in 2025 -AI financial 'mentors' will be integrated into gamified apps to provide personalized guidance based on a young user's learning progress, financial habits and goals. Schools will (look to) adopt these fintech apps into curriculums to boost financial literacy as early as elementary school.
Gen Z (1997-2012)
In 2023, while housing affordability will always be a challenge, 26.3% of adult Gen Zers owned a home by the age of 24 which is tracking slightly ahead of Millennials (24.5%) and Gen X (23.5%) at the same age. 42% prioritize work life balance over other job perks making them a great fit for freelancing and the gig economy. The easily use micro investing platforms and budgeting apps for managing their income and payments. This generation wants on-demand financial tools. Apps like VoPay offer flexible payment solutions that align well with their need for automated financial solutions. Finliti, a wealth management platform providing personalized investment education and insights for younger investors by API. Crypto platforms like Bitbuy offer Gen Z access to legal bitcoin trading services. Sustainability fintech products are also popular among this generation.
NCFA predicts that in 2025 -sustainability will finally take center stage over Gen Z's financial decisions. We expect there to be a rise of 'green credit scores' where fintech apps assess user's financial decisions based on their environmental impact, with rewards for more eco-friendly choices. We also anticipate that social investing platforms will allow Gen Z users to collaborate in new ways with peers on shared financial goals this year.
Millennials (1981-1996)
Millennials face a retirement savings gap—50% haven’t saved enough to meet their projected needs (source). Many balance caregiving responsibilities with careers, while 29% have ventured into Web3 technologies such as cryptocurrency (source). They value sustainability and automation in financial planning. Platforms like Neo Financial, FrontFundr, and Loop cater to Millennial priorities, offering green finance options and automated investment tools. With their growing comfort in Web3, decentralized finance (DeFi) and artificial intelligence platforms companies like Alethea.ai, offering on-chain agentic AI characters and Dapper Labs for blockchain ecosystem games.
See: Millennials and Crypto: Understanding the Generational Shift in Investment Mindset
NCFA predicts that in 2025 - Millennials will make a major push and lead the adoption of decentralized autonomous organizations (DAOs) for community based investing and resource pooling to fund (sustainable) projects and new ventures. Also automated financial coaches will become standard, offering integrated and customized financial advice based on real time spending and saving transactions.
Gen X (1965-1980)
Although mentioned far less than younger generations, Gen X is still dominant in top leadership roles including Fortune 500 CEOs. Having said that with the rising cost of everything, and part of the sandwich generation (aging parents to look after as well as their own children), 41% of Gen X reports they are overwhelmed by their financial situation with only 16% feeling confident they will have enough time to save for retirement, expressing the need for effective long-term planning tools. AI driven tools like Conquest Planning uses predictive models to optimize financial planning for security and personalization.
NCFA predicts that in 2025 - potential for Gen X to embrace collaborative financial ecosystems that share strategies and integrate pooled resources and services (i.e., co-purchase assets like real estate). Also given Gen X's caregiving responsibilities and increasing expenses, we expect to see the rise of AI powered tools to help identify cost-saving opportunities, consolidate and streamline all recurring, and agents to negotiate better rates to reduce financial burdens.
Baby Boomers (1946-1964)
By 2026 in Canada, approx $1 trillion will be transferred from Baby Boomers to Gen Xers and Millennials, the largest wealth transfer in the country ever. In terms of digital tools, believe it or not, smartphone ownership has grown from 25% in 2011 to almost 70% today. Estate planning tools like Willful can simplify the process of asset transfers. Hybrid AI and light touch financial advisory services can manage conservative, cash generating, portfolios to optimize returns while lowering risks to meet Boomer needs.
Read: Three Generations Discuss AI Concerns, Hopes, and the Future
NCFA predicts that in 2025 - a cybersecurity company will emerge dominant by providing stronger risk mitigation solutions for seniors. Baby Boomers will also increasingly rely on hybrid AI financial advisory services that help with estate planning and wealth management. A new, robust voice activated financial system for seniors will become more common place with the goal of helping tech-cautious seniors from being left behind.
Outlook for 2025
Fintech has come a long way baby! It's going beyond technology in a way that bridges and connects generations with tailored financial solutions. By solving unique generational needs, fintech companies will be empowering society to achieve greater financial independence and security in ways that traditional financial institutions were not able to nor interested in providing. Fintech is set to create multi-generational products and services that will seamlessly adapt across all age brackets.
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, artificial intelligence, 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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