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
Canadian Government Publishes Report with 16 Recommendations: Calls for a National Blockchain Strategy to Support Adoption and Industry Growth
Report | July 13, 2023
Standing Committee on Industry Technology publishes report with recommendations and calls for a National blockchain strategy, clarify regulation and support industry growth and adoption
- Last month in June 2023, the Standing Committee on Industry and Technology, chaired by Joël Lightbound, published a report titled "Blockchain Technology: Cryptocurrencies and Beyond" that explores the potential of blockchain technology and cryptocurrencies, their impact on various industries, and the challenges they present.
- It also provides recommendations for the Canadian government to support and regulate this emerging industry. It emphasizes the need for regulatory clarity and consumer protection in the field of digital assets. The report also suggests the establishment of a national blockchain strategy, following consultation with provinces and stakeholders.
The report includes a long list of 16 recommendations:
- The Government of Canada should recognize blockchain as an emerging industry with significant long-term economic and job creation opportunities.
- The government should improve consumer protection and regulatory clarity in the field of digital assets, ensuring individuals' right to self custody and ease of access to safe and reliable on and off ramps.
- The Government of Canada should establish a national blockchain strategy, following consultation with provinces and stakeholders, to clarify policy direction and regulatory approach.
- The government should call on a group of experts, entrepreneurs, academics, and investors to support its analysis and understanding of blockchain technology and help determine the best steps forward.
- The Government of Canada should pursue opportunities for international cooperation in the development of blockchain regulations and policies, including with major trading partners.
See: Bloomberg Invest: Banking and Blockchain Conversation with Former SEC Chair Jay Clayton and Dan Morehead of Pantera Capital
- The government should conduct innovative pilot projects using distributed ledgers to help strengthen the ecosystem and recognize up-and-coming businesses.
- The Government of Canada should create a sandbox where entrepreneurs can test technologies unhindered by as yet unadopted regulations.
- The government should adopt a distinct regulatory approach to stablecoins that reflects the difference between these products and other cryptocurrencies.
- The Government of Canada should adopt regulatory changes to promote the establishment of federally regulated cryptocurrency custodians to meet the demand for cold storage services from Canadian cryptocurrency firms.
- The government should adopt measures for access to banking and insurance services for blockchain firms, including through Crown corporations.
- The Government of Canada should establish a public awareness campaign, in consultation with provinces and the industry, to educate the public about risks related to cryptocurrencies and the benefits of accessing cryptocurrency markets through regulated Canadian entities.
- The government should launch a strategic initiative to develop skills and talent and support research in the blockchain sector.
- The Government of Canada should investigate ways to promote the adoption of blockchain technology in supply chains.
Read: Citi Report: Blockchain’s Next Billion Users: Money, Tokens, Games
- The government, in collaboration with the Commissioner of Canada Elections, should undertake a study on the new opportunities this technology presents for electronic voting, consultation, and the modernization of democratic institutions.
- The government should investigate equity between provinces in the application of the Excise Tax Act to mining activities to ensure fair taxation.
- The government should maintain that digital asset mining constitutes a commercial activity in Canada and adopt a neutral and equitable position towards this new and growing industry.
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 Launches Second Fintech Advisory Forum Participants
BCSC | Release | Jun 30, 2023
The British Columbia Securities Commission (BCSC) has established its second Fintech Advisory Forum set to advise BCSC staff on fintech trends and developments, including opportunities and risks, and provide input on fintech issues in the securities industry and securities law issues affecting fintech.
The Forum, which was constituted following a strong response to BC Notice 2023/01 issued on January 17, 2023, comprises 12 members. These members represent a broad cross-section of the fintech industry and its stakeholders, and collectively bring significant experience in the BC capital markets to the table. The members will serve two-year renewable terms.
FFCON23: Revolutionizing Alternative Finance with Blockchain Technology (DH Kim, Finhaven)
The advisory members to the BCSC's Fintech Advisory Forum are:
- Barbara Hendrickson, Managing Partner, BAX Securities Law
- Darryl Hatton, Founder & CEO, ConnectionPoint
- Dohyung “DH” Kim, CEO, Finhaven
- Julie Bogle, Partner, Corporate Capital Markets, BLG
- Karia Samaroo, Board of Directors, WonderFi
- Kevin Tam, Senior Branch Compliance Supervisor, Alternative Registered Operations Principal, Raymond James
- Khris Singh, Advisor, Government Relations and ESG, Canadian Credit Union Association
- Mike Stephens, Partner and Member of the Emerging Technology Group and National Lead, Fintech Industry Group, Fasken Martineau DuMoulin LLP
- Phil Sham, CEO, Aquanow
- Robert Piasentin, National Co-Group Head, Technology and Technology Transactions Industry Group, National Chair, Tech Law Group, and National Co-Chair, Startups and Emerging Companies, McMillan
- Sam Gharegozlou, President, Axiom Zen
- Usman Sheikh, Chair of Blockchain & Fintech Practice at Baker McKenzie, LLP
BCSC takes on direct oversight of Canadian Securities Exchange
The Forum is expected to hold its first meeting soon and will continue to schedule additional meetings until June 2025. For any queries about the Forum, individuals can contact the Chairs of the Forum, Zach Masum, Manager, Legal Services, Capital Markets Regulation, and Elliott Mak, Senior Legal Counsel, Corporate Finance.
View the original announcement --> 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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Balancing the Board: OBSI’s Restructures Governance to Enhance Consumer Advocacy and Industry Representation
OBSI | June 26, 2023
The Ombudsman for Banking Services
The Ombudsman for Banking Services and Investments (OBSI) today announced the changes to its organizational governance following its public consultation on governance from November 1, 2022 to January 31, 2023.
OBSI Governance Restructuring:
- The Ombudsman for Banking Services and Investments (OBSI) has announced significant changes to its organizational governance following a public consultation.
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- These alterations are designed to optimize board membership and decision-making processes, effectively incorporate stakeholder interests, and improve the organization's ability to fulfil its public service mandate.
- Board Composition and Selection: The OBSI has revised its board's skills matrix to reflect diverse areas of expertise and representation, including business, regulatory experience, and geographic diversity.
- The board will include three industry director positions, selected based on their knowledge and experience in the financial industry sectors. Furthermore, the number of designated consumer interest directors will increase from one to three, ensuring representation from consumer or investor advocacy sectors.
See: Budget Promises to Overhaul Banking Complaints Process and Appoint FCAC to Reform
- Stakeholder Engagement:
- Alongside the governance changes, OBSI is expanding its formal stakeholder outreach efforts through bi-annual meetings with consumer groups and industry associations. Moreover, OBSI has discontinued its Consumer and Investor Advisory Council (CIAC), instead choosing to enhance consumer engagement directly on the board, thereby ensuring ongoing and effective consumer and investor advice.
View the original announcement --> 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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Navigating the Information Ecosystem: The UN’s Code of Conduct for Digital Platforms (Policy 8)
IISD | Jun 22, 2023
The United Nations is developing a Code of Conduct for Information Integrity on Digital Platforms, aimed at creating a safer, more inclusive digital space.
- The Code of Conduct is intended to be a gold standard for information integrity.
- It defines information integrity as the accuracy, consistency, and reliability of information.
- The digital age has amplified the spread of misinformation, disinformation, and hate speech, polluting the information ecosystem and posing significant threats to democracy, human rights, and sustainable development.
See: Human Rights and Artificial Intelligence Governance
- This initiative proposes 8 principles to counteract these challenges:
- Commitment to information integrity
- Respect for human rights
- Support for independent media
- Increased transparency
- User empowerment
- Strengthened research and data access
- Scaled up responses
- Stronger disincentives
- Enhanced trust and safety
- The Code of Conduct will be developed through stakeholder consultations and could include the establishment of an independent observatory made up of recognized experts to assess the measures taken by the actors who commit to the Code of Conduct.
Continue to the full article --> here
Download the 29 page PDF report on Information Integrity on Digital Platforms --> 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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Debunking the Work/Life Balance Myth with Scott Galloway
Raconteur | Sam Forsdick | May 26, 2023
For Galloway, the solution is clear: young people, particularly young men, should embrace returning to the office. His justification? The need for in-person mentorship and a robust learning environment that is often absent in remote working situations.
- Galloway posits that the office provides an invaluable context for honing skills that are critical for success, including planning, decision-making, and self-control. Without the benefit of direct, interpersonal guidance, Galloway cautions that a generation of employees may be left lacking the vital skills necessary for career advancement.
- Galloway isn’t shy about stating the consequences of working from home. "The amount of time you spend at home is inversely correlated to your success, professionally and romantically," he claims. The implication is that personal and professional growth is largely contingent on stepping outside the confines of one's home.
- When it comes to the debate around work/life balance, Galloway dismisses it as a "myth". He suggests that those aspiring to achieve economic prosperity need to be prepared for a work-centric lifestyle. Drawing on his personal experience, he emphasizes the necessity of committing to years of consistent hard work for attaining financial success. "You can have it all, you just can't have it all at once," he insists.
See: 11 C’s of Soft Leadership and Emotional Intelligence
- Despite his advocacy for hard work, Galloway is critical of the modern hustle culture, which he sees as a flawed approach to professional development.
- For him, the most efficient way to utilize additional effort is not by juggling multiple projects, but by fully committing to a single 'main hustle'. He believes in the idea of concentrating energy in one area, to truly excel, rather than spreading oneself thin across multiple ventures.
- In sum, Galloway's message can be distilled to this: success requires total commitment, and that commitment is most efficiently actualized within an office environment that provides mentoring, social interaction, and opportunities for personal growth. He invites young people to reject the false promise of work/life balance and to reframe their perception of what it means to truly dedicate oneself to a career.
“To be successful now it takes 110% effort,” he added. “It’s not enough to be good, you have to be great.”
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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Sequoia Splits into Distinct Entities: Unraveling the Impact on Venture Capital Landscape
Forbes | Alex Konrad | Jun 6, 2023
Image: Unsplash/Sarah Brown
Venture capital’s biggest global brand is breaking up, with Sequoia’s China and India and Southeast Asia funds relaunching as new firms HongShan and Peak XV Partners.
- Sequoia Capital's Global Breakup:
- Venture capital heavyweight Sequoia Capital is splitting into three distinct entities, each targeting a specific geographic region. Sequoia Capital will focus on the U.S. and Europe, while the newly formed HongShan and Peak XV Partners will serve China and India/Southeast Asia respectively.
- This move could impact funding markets by adjusting the balance of power among global venture capital firms, potentially leading to a redistribution of capital and shifting the competitive landscape within the targeted regions.
See: Which Companies Were Affected by FTX’s Collapse?
- Increased Regional Autonomy:
- As separate entities, HongShan and Peak XV Partners will no longer share profits or back-office functions with Sequoia Capital. This autonomy should allow each firm to better align their strategies with their respective regional market dynamics, while mitigating conflicts and complexities tied to centralized operations.
- It may trigger a ripple effect in the funding landscape as other venture capital firms may consider similar operational adjustments for their own regional branches.
- Repositioning Amidst Changing Geopolitical Landscape:
- Although the Sequoia leaders deny geopolitical tensions as a catalyst for the breakup, the separation should allow each firm to navigate their regional geopolitical landscapes more independently.
- This could impact the funding channels by potentially reshaping investment strategies or preferences within the venture capital industry, possibly steering funding towards startups that align better with regional regulatory environments and geopolitical considerations.
See: House Passes Bills to Broaden ‘Accredited Investor’ Definition
Neil Shen:
Many Chinese entrepreneurs probably don’t even know how to spell Sequoia.
Singh:
From a customer’s point of view, you’re trying to buy technology from the company you think Sequoia anointed, that has the weight of Sequoia behind it, but now there are two of them and it’s confusing.
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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Tony Robbins: Who Are You in Business? Producer? Manager? Entrepreneur?
Tony Robbins LinkedIn Newsletter | Jun 1, 2023
Image: Unsplash/Brett Jordan
Each day life offers us the opportunity to GIVE (our passion, skills, time). To extend outside of ourselves, to contribute to something greater... And it determines WHO we are in business. Do you know what your gift is, my friend?
- Artist/Talent/Skilled Producer (someone with exceptional skill) that derives their energy by creating a product/service that LIGHTS up the customer:
- Most businesses are started by an artist, a talent, or skilled producer. They are the genesis of most grand ideas. A software developer, a fashion designer, someone who is incredible at negotiations...They bring passion and creativity.
- Artists are not naturally equipped to run a business. This isn’t to say that they CAN’T. On the contrary however their unique gift is in their skill. The logistics and nitty gritty of running a business can bog down their creative juices.
See: Life Isn’t Linear: Curveballs and Strikeouts
- Manager/Leader: LOVES to manage people and processes.
- People, systems, and making things more efficient; this is the Manager’s wheelhouse. They appreciate a product or service, but it’s not where they draw energy from. And because they’re not as attached to the product or service, they can make adjustments as needed. It's not their “baby” per se.
- They can approach tasks from a bird’s eye view, prioritize outcomes, and leverage outcomes based on the skillset of their team. But still, there’s another gift left to make it all come together...
- Entrepeneur/Risk Taker: The Entrepeneur garners energy from risk.
- Whereas the risk of starting your own business might be energy depleting for the Artist or Manager.
- Entrepreneurs are about economics. They can fall, lose money, and get back up again. The rollercoaster of entrepreneurship is a ride they enjoy.
- Many of you reading this will identify as an entrepreneur. It’s important to do a gut check. You can have an entrepreneurial muscle, but it doesn’t necessarily mean it’s in your core. There’s a difference!
See: Tony Robbins: The Cure for Quiet Quitting
One gift isn’t better than the other, they all serve to come together and make a business thrive. And one doesn’t mean more financial success than the other...
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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