FFCON21 Breaking Barriers May 11-13, 2021

Category Archives: Enterprise

ETF investors say Coinbase listing will cause explosion in crypto investing

ComplianceX | Jack J. Kelly | Apr 12, 2021

Cryptocurrencies - ETF investors say Coinbase listing will cause explosion in crypto investingThe pending Coinbase direct listing, scheduled for Wednesday on the Nasdaq under the symbol COIN, is exciting a broad base of the investment community outside the usual cryptocurrency crowd.

“Coinbase is going to blow people’s minds,” said Matt Hougan, chief investment officer at Bitwise Asset Management, which pioneered the first cryptocurrency index fund. “I think it’s going to force traditional finance to wrestle with the phenomenal growth that is taking place in crypto.”

It’s not hard to understand why. Coinbase is likely the biggest beneficiary of the cryptocurrency revival. It had 56 million verified users, with $1.8 billion in revenues in the first quarter alone, and a value that could be anywhere from $50 billion to $100 billion.

That is an extraordinary valuation for an exchange of any type. By contrast, Intercontinental Exchange, which runs the New York Stock Exchange, has a market cap of $65 billion, while Nasdaq has a market cap of $25 billion.

See:  The Under-Appreciated Significance of Coinbase Going Public

That kind of valuation is getting the investment community — and particularly exchange-traded fund investors — very excited.

Biggest crypto pure play

Crypto assets have had the same problem that other hot commodities (like pot or space) have had in the past: a high degree of interest with a notable lack of investible assets. Coinbase, however, will go a long way toward solving that problem.  Because ownership of crypto by individuals and institutions is still fairly low, many believe the valuation of Coinbase will encourage more private entities to go public.

“I think we’re going to see a gold rush for crypto equities as investors realize just how fast the ‘picks and shovels’ companies of the crypto ecosystem are growing,” Hougan said.

Michelle Bond, a former senior counsel at the SEC who is now CEO of the Association for Digital Asset Markets, an association of firms in the digital marketplace, said "the Coinbase listing will break down headline barriers because this will have to be approved by a traditional financial regulator, ensuring transparency, integrity and disclosure.”

Will the SEC finally approve a bitcoin ETF?

While bitcoin ETFs exist in the U.S., they do not directly own bitcoin. They own portfolios of stocks deemed to have exposure to blockchain technology.  A bitcoin ETF that owns bitcoin is a long-awaited dream of crypto investors because it will greatly expand the class of potential owners.

“A bitcoin ETF will provide an easy, simple and efficient way to own bitcoin,” said Som Seif, who runs the Purpose Bitcoin ETF, which trades in Canada. “Just like gold, the storage and custody of bitcoin is unique. An ETF solves that problem. Also it’s like a stamp of approval: There’s institutional backing. The GLD [Gold ETF] changed the world when it came out in 2004. It made it easy to own gold as an asset class.”

See:  Canadian Regulators Green Light World’s First Bitcoin ETF for Retail Investors

Several weeks ago, the SEC acknowledged the receipt of Van Eck’s bitcoin ETF application, which set in motion a 45-day regulatory review period. At the end of that period, the SEC must either approve, deny or extend the review period. Several other firms, including Fidelity, have also applied for a bitcoin ETF.  Most observers believe the SEC will punt and seek to extend the review period. The maximum period is 240 days.  However, most bitcoin watchers believe late 2021 could finally be the year a bitcoin ETF is approved.

“The biggest potential change is [SEC Chair nominee] Gary Gensler,” Magoon said, noting that Gensler has taught cryptocurrencies and appears more receptive to a bitcoin filing. He also noted that SEC Commissioner Hester Peirce, a Republican, has also been a supporter of a bitcoin ETF.

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NCFA Jan 2018 resize - ETF investors say Coinbase listing will cause explosion in crypto investing 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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Techlash continues to batter technology sector

Brookings | Darrell West | Apr 2, 2021

Tech Backlash - Techlash continues to batter technology sector

Source: Felix Decombat

In our Brookings Press book, Turning Point: Policymaking in the Era of Artificial Intelligence published last year, John Allen and I note the backlash against technology that has reduced public support for many things digital. As an illustration, Pew Research Center surveys show people are worried about privacy intrusions, cybersecurity risks, and misinformation campaigns. Many individuals think the pace of technological change is advancing too rapidly and it is hard to distinguish fake from actual phenomena.

Now a new Edelman Trust Barometer poll shows how much more widely this “techlash” has spread. In the United States, trust in the technology sector has fallen from 78% in 2012 to 57% in 2021. Globally, tech sector trust has dropped from 77% to 68% during that time.

In less than a decade, according to that firm, the public has grown far more suspicious about misinformation, personal privacy, 5G networks, and AI bias, among other things.

The decline of public trust in the technology sector has profound consequences for how people view digitization and options for government oversight and regulation. The precipitous drop over the past year is noteworthy because of the crucial role technology has played in the pandemic response. Due to COVID-19, people have shifted to online learning, telemedicine, remote work, and e-commerce.

See:  Edelman Canadian Trust Report: Trust declines in all sectors including 8% in technology

In this situation of widespread technology utilization to cope with the social distancing requirements of the pandemic, one might imagine the public would see the benefits produced in at least some of these areas would outweigh the costs and the risks. COVID-19 forced what otherwise might have been five years of digital change into five weeks. Nearly everyone has grown quite dependent on technology to work, learn, and communicate. That should have boosted public confidence in technology.

In the United States, trust in the technology sector has fallen from 78% in 2012 to 57% in 2021. Globally, tech sector trust has dropped from 77% to 68% during that time.

Yet the loss of trust suggests many are not happy with the role technology plays in their pandemic lives and feel there are many problems that need to be addressed. Although digital connections helped them work remotely, a number are suffering from Zoom fatigue, misinformation, privacy loss, and social isolation. A significant percentage seems to feel that tech risks outweigh benefits.

In addition, widely reported problems with online learning platforms have frustrated students, parents, teachers, and administrators. Rather than boosting confidence, these issues have eroded public trust. Although technology enables some types of learning, some experts have concluded students learned far less from online platforms than what would have been the case with in-person classrooms.

See:  PwC Report: Canadian Digital Trust Insights 2021: Cybersecurity comes of age

If public opinion continues to trend in negative directions for the technology sector, both in the United States and around the world, it likely will broaden support for government actions that regulate technology, raise taxes, ban certain applications, and limit product rollouts seen as detrimental to humanity.

A lack of public confidence will encourage political leaders to take tough regulatory actions and limit the freedom private companies have had for decades to develop new products, bring them to the marketplace, and engage in international commerce.

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NCFA Jan 2018 resize - Techlash continues to batter technology sector 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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#FFCON21 Brings Canada’s Tech Hub to the Web for 3 Days of Fintech Insights, Business Building

Investor Wire | Jonathan Keim | April 10, 2021

FFCON21 Image 3 - #FFCON21 Brings Canada’s Tech Hub to the Web for 3 Days of Fintech Insights, Business BuildingFFCON21: Breaking Barriers May 11-13

  • The 2021 Fintech & Financing Conference and Expo (#FFCON21) is scheduled May 11-13
  • Global virtual conference streamed from Toronto, the hub of Canada’s developing fintech ecosystem, but presented online due to pandemic concerns
  • 50-plus speakers with expert insights planned
  • Networking opportunities to connect one-to-one with peers and experts
  • Draft pitching competition to gain attention for business brand (as well as prizes)

The 7th Fintech & Financing Conference and Expo will be held for global participants virtually from May 11-13, 2021.  Originating in Toronto, FFCON21 has grown from a basic collaboration between entrepreneurs and big businesses intent on driving change into a thriving gathering of fintech, blockchain, crypto, digital banking, AI, payments, wealthtech, regtech, alternative finance stakeholders and global participants with a love for Canada’s fintech ecosystem.

In its seventh year, the 2021 gathering (#FFCON21) has been adapted to the health security needs of attendees during the present global pandemic, offering exclusive online access to a three-day collection of educational courses, networking opportunities, pitch competitions, e-booth demos and an auction for charity. 

The conference will take place May 11 to 13, still celebrating its place within Canada’s rising fintech and financial sector even as it extends its reach to a global audience through a virtual platform. Tickets, including early bird rates at present and a special startups-only package, are available at https://ibn.fm/3Ov1h.

Conference organizers anticipate bringing attendees to the table with some 50 speakers ranging from Main Street executives such as the president and CEO of public-private partnership Toronto Finance International to enterprising up-and-comers such as the founder-partner of startup builder Borderless Ventures and its CryptoAssets Institute.

See:  Showcase your products/services: Secure a DEMO Speaker spot at FFCON21: May 11-1

The second annual draft pitching and demo competition follows a sports league model geared toward identifying and featuring emerging and high growth fintech startups and scaleups. The “Breaking Barriers” theme of the conference is particularly appropriate here as draft participants compete for exposure and prizes, including promotion to investors, media, prospective buyers and partners.

The online access format driven by the pandemic proved advantageous last year following a scheduling delay necessary to reimagine the presentation of the spring conference. The digital venue and interactive platform allows for increased participation on a global scale because of the elimination of travel expenses from the plan. Networking and file sharing are able to occur naturally and easily using integrated online text and video chat features.

Additionally, the online platform makes it simple to access all digital content to catch up on anything attendees may have missed at a time when it is more convenient. Networking and e-booth displays present attendees with the potential to make connections with a future business mentor, investor or a prospective employee to help build their companies.

And at the heart of it all is the class schedule with insights from thought leaders on the direction of fintech solutions and emerging fintech trends. Presentations will explore topics that address the latest innovations, emerging industry regulation and the impact of government activity on financial technology markets.

For more information, visit the conference’s web portal at https://fintechandfunding.com.

 


NCFA Jan 2018 resize - #FFCON21 Brings Canada’s Tech Hub to the Web for 3 Days of Fintech Insights, Business Building 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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Ripple Wins Access to SEC Internal Documents on Bitcoin, Ether, and Other Cryptocurrencies

Blockchain News | Shine Li | Apr 7, 2021

ripple gets a court win 1 - Ripple Wins Access to SEC Internal Documents on Bitcoin, Ether, and Other CryptocurrenciesRipple was granted access to the Securities and Exchange Commission’s internal documents pertaining to the agency’s interpretation and views on cryptocurrencies such as Bitcoin and Ether.

Bitcoin and Ether documents relevant to XRP case

In the United States, Bitcoin and Ethereum (ETH) are classified as non-securities and are regulated more as commodities. Ripple’s native cryptocurrency XRP has failed to gain a similar status in the US however, with the SEC pursuing Ripple for $1.3 billion in unregistered digital asset securities.

See:  Ripple Pilots a Private Ledger for Central Banks Launching CBDCs

The conclusion of yesterday’s discovery hearing was that defendants’ motion to access SEC’s internal documents on crypto was granted “in large part.” This means that the SEC will have to share internal and external documents related to the agency’s stance on cryptocurrencies. Staff-to-staff email communications are exempted from discovery, however.

Matthew Solomon, who acts as Ripple CEO Brad Garlinghouse’s lawyer in the case, said that it may be “game over” for the Securities and Exchange Commission’s lawsuit, once evidence on how XRP has been deemed similar to Bitcoin and Ether is uncovered. Additionally, with the SEC taking eight years before filing a complaint on XRP, Ripple attorneys believe that the lawsuit may be concluded once contradictory claims about XRP’s status made by the SEC is unveiled.

With Ripple triumphing during yesterday’s discovery hearing, the fintech firm will be able to compare its native cryptocurrency XRP against other cryptocurrencies the SEC has ruled as non-securities. Should XRP be deemed a non-security, it would mean that XRP would not fall under the SEC’s regulatory purview.

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NCFA Jan 2018 resize - Ripple Wins Access to SEC Internal Documents on Bitcoin, Ether, and Other Cryptocurrencies 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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Supreme Court handed Google a win in a decade-long court battle with Oracle

The New York Times | | Apr 5, 2021

Google vs oracle supreme court - Supreme Court handed Google a win in a decade-long court battle with Oracle

The 6-2 ruling, which overturns a victory for Oracle, marks a climax to a decade-old case that divided Silicon Valley and promised to reshape the rules for the software industry. Oracle was seeking as much as $9 billion.

On Monday, the Supreme Court said it was kosher to copy someone else’s computer code in some cases. That handed Google a win in a decade-long court battle with Oracle over the guts of the Android smartphone system.

See:  Our patent and copyright system isn’t prepared for inventions or designs by AI

I’ll explain why the technology industry was relieved by the decision, and the ways it might be relevant for artists, writers and archivists. I also want us to ponder this: Why are thorny legal questions seemingly inescapable in technology right now?

What was the legal case?

Oracle controls software programming technologies called Java that are a building block for many apps and digital services. Google used a relatively small chunk of Java computer code in its Android operating system, and that made it easier for software experts to make smartphone apps.

In the Google v. Oracle America case, Google said it was standard practice to copy what are called application programming interfaces, or APIs, a set of instructions to make sure that technologies from different companies can work together. Oracle said that Google stole its software and demanded billions of dollars. Each company said it was trying to save the tech industry from ruin.

This is complicated stuff that made lawyers on both sides and the justices grasping for analogies — safecracking, football playbooks and restaurant menus — to explain APIs. In his majority opinion on behalf of six justices, Justice Stephen G. Breyer compared APIs to the gas pedal, which tells a car to move faster, and a keyboard that types a letter when you press a specific key.

A big question went unanswered, but it might not matter.

Google won. Although as my colleague Adam Liptak wrote, the Supreme Court had previously said it would answer two questions: Whether companies like Oracle could copyright APIs, and if so, whether Google’s use of them fit an exception to the copyright law known as fair use. A majority of the justices answered only the second question, with a yes.

See:  The future relationship between AI and IP

Two justices, Clarence Thomas and Samuel A. Alito Jr., said it was a mistake to sidestep the question of whether APIs are protected by copyright laws. Justice Thomas wrote that he would have said yes.

Even though the justices left an open question, intellectual property lawyers told me that the decision should give comfort to companies that use APIs. The Supreme Court essentially blessed what Google did because it took APIs and transformed the software into something new that can benefit all of us.

Many technologists had sided with Google — even those who aren’t usually fans of the company. They worried that if companies could prevent rivals from using APIs or charge exorbitant prices to use them, it could discourage companies from inventing new products. For them, the Supreme Court decision brought relief.

The technology industry is racked with legal questions now: How should the First Amendment apply to social media companies? Do antitrust laws need to be rewritten for Big Tech? Does a 25-year-old internet law preserve people’s free expression or crush it? Tech now revolves around laws, not just computer code.

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NCFA Jan 2018 resize - Supreme Court handed Google a win in a decade-long court battle with Oracle 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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New head of Communitech leading incubator says ‘no reason why Canada couldn’t be the global hub of innovation’

Financial Post| Bianca Bharti | Apr 5, 2021

Chris albinson and Communitech - New head of Communitech leading incubator says 'no reason why Canada couldn't be the global hub of innovation'There is no reason why Canada couldn't be the global hub of innovation'

Canada needs to foster companies that can compete on a global scale if it wants to build a sustainable technology ecosystem, according to the incoming chief executive of one of the country’s top tech incubators.

Chris Albinson, a Canadian venture capitalist who has spent the better part of two decades in California, was on Monday named the next head of Communitech, the Waterloo-based incubator that has more than 1,600 member companies.

A Kingston, Ont.-native, Albinson helped build the C100 network in Silicon Valley, a who’s who of Canadian technology leaders who came together to encourage collaboration and growth.

“To have a healthy ecosystem, you need big trees,” Albinson said in a recent interview with the Financial Post. “We need more big trees, otherwise, when the storms come through, stuff gets wiped out.”

See:  4 Ways the Startup Landscape Will Shift in 2021

In Canada, that means more companies like Shopify.

Albinson says the time is especially ripe for Canada to establish itself as a formidable player, in part due to the pandemic. Remote work has caused some companies to set up offices outside of cities as talent, once concentrated in urban centres, now flee.

“Everyone assumes that the Valley’s sort of a fixed (hub),” Albinson said, before pointing to Boston, which was considered the centre of innovation in the 1990s before the San Francisco Bay area stole the crown.In order to get there, Albinson says we need to aspire to build globally relevant companies that can sustain long-term growth, something that’s already happening.

“When I talked to Canadian entrepreneurs coast to coast … they want to build the next Shopify,” Albinson said.

People also tend to forget, he said, that a University of Waterloo graduate, Apoorva Mehta, started Instacart.

See:  Magnetic North: How Canada Holds its Own in the Global Race for Innovation Talent

He sees businesses such as Clearbanc, a company that helps finance entrepreneurs, and ApplyBoard, a company that helps foreigners apply to Canadian universities, as signs that Canada’s tech space is ready to explode.

It’s doubly helpful that the ecosystem up north is more inviting than stateside because Canada has a better immigration system, there is access to global markets and capital and we’re leading in artificial intelligence, robotics and machine learning, Albinson said.

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NCFA Jan 2018 resize - New head of Communitech leading incubator says 'no reason why Canada couldn't be the global hub of innovation' 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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How can Bitcoin SV Help in this Time of Pandemic?

Bitcoin Association | Makkie Maclang | April 5, 2021

Bitcoin SV - How can Bitcoin SV Help in this Time of Pandemic?

The coronavirus (covid-19) pandemic has changed the way the world works, and 2020 has been a dismal year for many, with more than 1.4 million deaths. As everyone continues to battle the virus and with a vaccine still in the works, the question in the cryptocurrency world is, how can Bitcoin SV(BSV) be relevant during this time of pandemic?

The Metanet on Curbing Covid-19 Fake News

Dissemination of information has been crucial in the fight against this deadly virus, and social media has played a major role in circulating news, warnings and instructions on how to live in the era of the “new normal.” Unfortunately, social media has also been the culprit in spreading fake news and information that only served to derail efforts to curb covid-19. Many deaths could have been prevented if only the right information was disseminated.

The Metanet is Bitcoin SV’s answer to fake news. Adding the Greek word, “meta,” which means beyond, the Metanet is a version of the Internet that transcends its weaknesses. Because the Internet is free, data from everything that is posted on social media giants like Facebook, Twitter and Instagram is free for them to profit off without users ever seeing a cent of income.

 

 

With Metanet, data from all activity is recorded on the Bitcoin SV blockchain, and people are given the power to control and own their data. The BSV-based application Twetch is the perfect archetype of what a responsible social media platform should be. For a very small fee, just because it takes this small amount to be able to write data on the Bitcoin SV blockchain, users can post relevant content and earn revenue every time other users make a comment or share their posts.

Because people have to pay—albeit a small amount— to post anything, the spreading of fake news will be limited. Most trolls do not have the budget to pay money for their act of malice. Furthermore, because every action recorded on the BSV blockchain exists forever and users own the content they post, trolls can easily be blocked, traced and apprehended.

 

Healthcare Data and Statistics on a Global Public Ledger

EHR Data Inc. has recently announced its partnership with nChain to use the BSV blockchain in storing and managing healthcare data.

 

 

Currently, citizens have to wait for official government announcements on covid-19 updates, and it usually takes days for them to be released. With real-time access to global data, everyone is updated on the latest information and statistics. Governments are also freed up of the time and effort they consume in compiling these press releases, and medical and research facilities can use the data faster and more effectively. Bitcoin SV may not be the answer to pandemics such as this one, but it can certainly help in providing the answer.

 


NCFA Jan 2018 resize - How can Bitcoin SV Help in this Time of Pandemic? 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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