Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Enterprise, Scaleup
National Bank Doubling Down on MicroStrategy’s Bitcoin Boom
Investing | Dec 16, 2024
Image: Freepik
National Bank of Canada FI Purchases More MicroStrategy Shares
National Bank of Canada FI (investment arm of the bank) has purchased an additional 18,879 shares of MicroStrategy (NASDAQ: MSTR), signalling further institutional interest in bitcoin and digital assets. MicroStrategy is the unprecedented leader of corporate Bitcoin adoption, holding 152,800 Bitcoin worth over $5.1 billion, the largest publicly traded corporate holder of bitcoin.
*Update: MicroStrategy purchased even MORE bitcoin, acquiring an additional 15350 BTC coins for a sum of $1.5 billion. Now MSTR owns approx 440,000 bitcoins, as of Dec 16.
The software firm-turned-bitcoin whale said in a filing Monday morning that it had acquired an additional 15,350 bitcoins for $1.5 billion. The company now owns roughly 440,000 bitcoins.
See: Vancouver’s Bitcoin Vision: A New Era for City Finances
According to a past 13F-HR form filing, the National Bank of Canada increased its investment stake in MicroStrategy by 8.8% in the first quarter of 2024. Then by March 31, the bank's holdings increased to 1,678 shares, worth $516,822. With it's latest purchase of an additional 18,879 shares of MicroStrategy, the bank now holds a total of 20,647 shares valued at approx $3.48 million.
Why It Matters
MicroStrategy’s stock has skyrocketed 570% this year, receiving a strong boost in confidence by its recent inclusion in the Nasdaq-100 index and the growing value of its Bitcoin holdings. The divide between traditional banking and digital finance continues to narrow while highlighting the growing importance of blockchain technology and its role in the future of finance across the globe including Canada.
Closing Thought
While MicroStrategy is not currently a Bitcoin bank, given its massive Bitcoin holdings, focus on blockchain, and strong technology platform it could evolve into providing services that mimic traditional banking functions using Bitcoin.
See: Bitcoin’s Evolving: The Rise of DeFi on Bitcoin
For now it's a pioneer, influencing enterprises on how they think about and integrate digital assets into their operations and holdings.
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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US Financial Surveillance Report Shows Privacy in Crisis
Privacy Report | Dec 13, 2024
How U.S. Surveillance Practices Threaten Financial Privacy and Innovation
Financial privacy is at a crossroads. Another 'eye opening' report dropped December 6, 2024 by the U.S. House Judiciary Committee and the Select Subcommittee on the Weaponization of the Federal Government titled, "How the Federal Government Weaponized the Bank Secrecy Act to Spy on Americans" (47 page PDF) reveals alarming financial surveillance systems being used in the United States. Using laws like the Bank Secrecy Act (BSA), federal agencies use financial institutions to monitor millions of Americans without their knowledge or consent. These findings have serious implications for fintech, innovation, and consumer trust. There's a tug of war between security and privacy and it's reaching a breaking point.
The Scale of Financial Surveillance
Last year in 2023, financial institutions filed 4.6 million Suspicious Activity Reports (SARs) and 20.8 million Currency Transaction Reports (CTRs) with the Financial Crimes Enforcement Network (FinCEN). Over 25,000 government officials at various levels accessed this data without legal warrants to conduct over 3.3 million searches using the FinCEN Query system. FinCEN's integrated access program allowed approx. 27,000 users across nine federal agencies to download entire datasets of financial records with minimal oversight.
Financial institutions often outsource compliance tasks to third party vendors which raises questions about data security and privacy breaches under the confidentiality rules under the Bank Secrecy Act. Another layer of exposure risk.
See: Opinion: The Financial Surveillance System May Be Less a Tool for Crime Prevention than a Means of Bureaucratic Ass Covering
The report describes a system that encourages banks to over-report SARs to avoid penalties for non-compliance (even when the reported activity is unlikely to be connected with a crime or wrongdoing).
Jimmy Kirby, FinCEN Deputy Director:
"There’s the mandatory requirement and then there’s the ability to voluntarily file, as the statutory construct laid out by Congress really is to encourage filing. So... there’s the ones you’re required to file, but there’s also very much an encouragement for people to voluntarily file beyond what they’re required to file."
Weaponization of Financial Data
The use of financial data to target specific individuals or groups is critical issue for policymakers, and has been increasing in recent years. Especially after Jan 6, 2021 uprising in the U.S. where institutions were told to flag individuals on politically charged criteria, such as purchasing firearms, travel to Washington, D.C., staying at specific hotels etc.
See: Surveillance Capitalism: Policymakers must put an end to abusive practices
A similar situation happened here in Canada too during the trucker protests of 2022. Canadian federal agencies used the Emergencies Act to direct banks to freeze accounts of individuals and organizations linked to the protest. They also instructed crypto exchanges to cut off crypto user accounts linked to the protests. Donation- based crowdfunding platforms were also caught in the fire as FINTRAC's knee jerk reaction to impose unwarranted AML/ATF requirements on them without any data-driven analysis.
Daryl Hatton, Founder and CEO of FundRazr:
“In summary, the regulations are ineffective, burdensome, anti-competitive, and damaging to both the domestic donation crowdfunding sector and the Canadian nonprofit/charitable sector. The goal of protecting Canadians from money laundering and terrorism is laudable, but these regulations should be scrapped, and new regulations drafted in full consultation with stakeholders.”
Implications for Fintech and Innovation
Fintech firms operating in the U.S. (especially smaller ones) in some capacity can find themselves swamped by compliance costs which eat up valuable resources away from innovation. For example, a Canadian payment processor may find that routine transactions under Canadian regulations could trigger SARs in the U.S., adding to compliance and operational costs.
See: Privacy and Crypto Shaken as Telegram’s CEO Arrested
Or consider, a crypto platform doing business in the U.S. could encounter conflicting demands such as when U.S. regulators request data but Canadian privacy laws protect that data. These different regulatory environments create frictions.
Why It Matters
Excessive surveillance hurts consumer trust and adversely impacts the adoption of fintech solutions. Use your voice and emerging technology to demand accountability and create private, ethical systems that balance security with individual rights, ensuring a future free from weaponizing financial data inappropriately.
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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Tipalti Expands Canadian Operations with Localized Solutions
Release | Dec 10, 2024
Image: Freepik/rawpixel.com
Tipalti Launches Localized Product for Canada, Strengthening Its Canadian Footprint
On December 5, 2024, global finance automation company, Tipalti announced the launch of new tools made specifically for the Canadian market including support for Electronic Funds Transfers (EFT) and local bank accounts, making payments smoother for Canadian businesses, alongside their registration with FINTRAC as a money services business.
Why Now?
Tipalti is primarily a finance automation company that focuses on streamlining and automating accounts payable and global payment processes for businesses. They are beyond just a payments company with its core offerings around automating financial workflows such as invoice processing, tax compliance, supplier management, and payment reconciliation.
According to a recent study by Sage, 60% of Canadian finance leaders struggle with manual workflows and 40% report productivity losses from outdated processes. Tipalti believes it can automate tasks that optimize workloads by 80%. Further, Tipalti expects Canada's economy to grow in 2025 and they want to prepare to meet the growing demand for scalable financial systems.
See: Reversing Canada’s Digital Economy Productivity Decline
Sam Barakat, Tipalti’s Chief Revenue Officer:
“We’re here to help Canadian businesses modernize and grow. These new tools make it easier for them to scale up without getting bogged down by financial operations.”
Competition Heating Up
There are a number of other fintech companies offering similar payment tools and services for Canadian businesses that may have accelerated Tipalti's latest move in Canada. Finix for example is a San Francisco-based payments firm that recently announced expansion into Canadian markets in February 2024 and also offers EFT services and local bank account integrations in Canada.
See: VoPay & Sage Revolutionize SMB Payroll Solutions
Or VoPay, Canadian scaling fintech that specializes in EFT payments so businesses can send and receive funds directly between bank accounts. VoPay's API supports multiple payment methods and offers features like instant bank account verification and balance checks.
Outlook
As Canada’s economy continues to grow, the demand for scalable and efficient financial tools will only increase.
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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Digital Export Trends and Global Trade Fintech Opportunities
Digital Trade | Dec 10, 2024
Image: Global Trade Outlook and Statistics (WTO, Apr 2024)
WTO Global Digital Trade Growth Insights and Fintech Opportunities
The World Trade Organization published a comprehensive report on 'Global Trade Outlook and Statistics' (48 page PDF, April 2024) highlighting the growth of digitally delivered services in 2023 which accounted for 13.8% of total global exports (9% increase year over year) for a total value of $4.25 trillion.
See: IMF Working on Global CBDC Platform to Revolutionize Global Remittances and Trade
This includes categories such as IT/software development and support, financial services, media streaming, research, and e-learning. Canada ranked 16th with the United States, United Kingdom, and Ireland capturing the top 3 spots among digital exporters (see table below). There are significant opportunities for fintech in the expanding digital global trade sector.
Top 20 Digital Exporters
Visual capitalist created a great infographic that helps you visualize and compare the top 20 digital exporters table data below, view here.
| Rank | Country | Export Value (USD) | Global Share (%) |
|---|---|---|---|
| 1 | United States | $649 billion | 15.3% |
| 2 | United Kingdom | $438 billion | 10.3% |
| 3 | Ireland | $328 billion | 7.7% |
| 4 | Germany | $279 billion | 6.6% |
| 5 | India | $257 billion | 6.1% |
| 6 | France | $225 billion | 5.3% |
| 7 | Netherlands | $207 billion | 4.9% |
| 8 | China | $207 billion | 4.9% |
| 9 | Japan | $162 billion | 3.8% |
| 10 | Switzerland | $155 billion | 3.7% |
| 11 | Singapore | $153 billion | 3.6% |
| 12 | Belgium | $143 billion | 3.4% |
| 13 | Sweden | $132 billion | 3.1% |
| 14 | Spain | $128 billion | 3.0% |
| 15 | Italy | $125 billion | 2.9% |
| 16 | Canada | $118 billion | 2.8% |
| 17 | Luxembourg | $112 billion | 2.6% |
| 18 | Denmark | $110 billion | 2.6% |
| 19 | Hong Kong | $105 billion | 2.5% |
| 20 | Australia | $100 billion | 2.4% |
Select Data Insights from the Report
1. Growth by Regions
- North America: The U.S. leads with $649 billion in digital exports due to its strong technology, great infrastructure, and large consumer market.
- Europe: Countries like the U.K., Ireland, and Germany are top exporters and rank high on the list thanks to strong technology sectors and supportive government policies.
See: 2024 Global Payments Growth, Trends, and Fintech’s Edge
- Asia: India and China are rising stars and growing fast. India’s IT services grew 17% last year, and China’s digital exports doubled since 2019.
- Emerging Markets: Singapore and Hong Kong are key players in Southeast Asia, driving growth in fintech and IT services.
2. Key Trends
- Digital trade grew 9% yoy and reached $4.25 trillion in 2023. Digital services like IT and financial services enjoyed double-digit growth as more and more businesses and consumers transact more online.
- Unlike physical goods, digital services were less affected by conflicts and supply chain issues. They bounced back quickly after the pandemic with trade now 50% higher than pre-pandemic levels.
- Sustainability and ESG compliance is becoming an important part of digital trade. For example in 2023, demand for insurance services that addressed climate and geopolitical risks grew by 17%.
- Regions with smart policies and trade agreements like the EU experienced strong growth in digital services (i.e., business services alone grew by 13% in 2023).
3. Breakdown by Service Type
- Business, professional, and technical services: 41.2%.
- Computer services: 20.5%.
- Financial services: 16.0%.
- Intellectual property-related services: 10.9%.
See: Reversing Canada’s Digital Economy Productivity Decline
- Insurance services: 5.2%.
- Telecommunications services: 2.6%.
- Other personal, cultural, and recreational services: 2.1%.
- Information services: 1.5%
Fintech Opportunities in Digital Trade
1. Faster, Cheaper International Payments
Fintech companies like Wise and Ripple have democratized international payments. In Canada, Buckzy Payments is leading the charge with real-time cross-border payment solutions. Their platform allows businesses to transfer money across borders instantly which helps exporters avoid exchange rate risks and save on fees.
2. Smarter Trade Financing Options
For many exporters, managing cash flow is a challenge, especially when dealing with international buyers, however it an be easier with tools like invoice factoring and export insurance.
See: Breaking Down the Steps to Achieving Full Business Ownership in a Foreign Market
Canadian fintech FundThrough specializes in invoice factoring which is a fintech tool where businesses get paid upfront for their invoices. Their service is made for small and medium-sized exporters, helping the manage cash flow and expand internationally.
3. AI Insights to Drive Better Trade Decisions
Artificial intelligence is transforming trade decisions. Fintech companies can create platforms that analyze global markets, predict and pinpoint demand, improve trade route planning, and identify growth opportunities. Canadian AI startup, Coveo, provides businesses with advanced analytics to optimize operations and market strategies.
4. Automating Taxes and Compliance
Dealing with complex regulations and taxes is simplified by fintech solutions. Canadian company Wave Financial provides tools for automating invoicing, tax calculations, and financial compliance. While Wave focuses more on small businesses, its software can be adapted for exporters (opportunity). Imagine software that calculates tariffs, files tax reports, and ensures compliance with local laws and all in real time. This reduces errors, saves time, and helps businesses avoid costly penalties.
5. Financial Products that Promote Sustainability
Sustainability is becoming a global trade requirement. Fintech companies are creating tools that track carbon emissions, monitor ESG compliance, and provide financing for green initiatives.
See: Export resources for Canadian firms
Canadian fintech CoPower (now part of Vancity) offers green investment products such as loans for renewable energy and energy-efficient projects. These tools help companies align with sustainability goals while accessing financing for eco-friendly initiatives.
Challenges in Digital Trade
While digital trade opens up huge opportunities, it also comes with a lot of challenges that businesses must overcome to reap the rewards.
- Different tax rules in each country make it tough for exporters to stay compliant, adding extra headaches for businesses trying to expand globally.
- Increasing tariffs and trade restrictions are making it harder or more expensive for goods and services to move freely across borders.
- Political conflicts can disrupt trade routes, trigger sanctions, and create uncertainty, all adding risk for businesses looking to expand to new markets.
What Canada Needs to Do Next
To boost its ranking position as a leader in digital exports, Canada needs to invest in fintech innovation to solve practical world trade challenges. They need to build robust and reliable solutions that make global trade cheaper, more streamlined, and more predictable.
See: A Guide on Global Entity Management: Strategies & Services
Industry and government need to build more global connections and partner with global fintech hubs and trade organizations that can help Canadian fintechs tap into global expertise and markets. Canada needs simpler, trade-friendly policies to make it easier for businesses to expand their digital exports and improve Canada's competitiveness in global markets.
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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Vancouver’s Bitcoin Vision: A New Era for City Finances
Crypto | Dec 10, 2024
Image: Freepik/TravelScape
Is Bitcoin Becoming the Reserve Asset of the Future?
Is Vancouver about to lead the Bitcoin revolution in Canada? The Mayor of Vancouver Ken Sim (elected on October 15, 2022) announced that the city should use Bitcoin as part of the city's financial reserves in a proposal titled, “Preserving the City’s Purchasing Power Through Diversification of Financial Resources”. Sim's idea comes at a time when the Canadian dollar is losing value because of inflation and other economic pressures. He wants to protect the city's money from inflation and economic uncertainty by making Vancouver a Bitcoin-friendly city while also positioning it as a hub for financial innovation. The city council plans to discuss on December 11, 2024.
What’s the Plan?
The proposal goes beyond just holding Bitcoin in the city’s reserves, and outlines a comprehensive plan to make Vancouver a “Bitcoin-friendly city”:
- Residents could get the option to pay taxes and city fees using Bitcoin.
- Embracing Bitcoin could bring new businesses to the city and create jobs in crypto and blockchain.
- The city will engage the public by talking to experts, local businesses, and residents to ensure any decisions are informed and transparent.
Why is Vancouver Talking About Bitcoin?
Bitcoin is often referred to as a store of wealth or 'digital gold' (among other things). Unlike traditional money, Bitcoin has a fixed supply and operates on a decentralized network, so no one can print more of it. Bitcoin has been the top performing financial asset over the past decade with an average annual return of 230%, surpassing all other asset classes by a significant margin. Massive investment companies like BlackRock, Fidelity, and Deutsche Bank are already invested in Bitcoin and see bitcoin as a long term store of value. The proposal argues that Vancouver should join cities and countries around the world that are exploring Bitcoin to stay ahead of the curve.
See: Bitcoin Hits $100K, Pizzas Now Worth $1 Billion!
Ken Sim, Mayor of Vancouver:
“We need to think about the future. [Bitcoin is] the greatest invention in human history.”
From city halls in Canada and the powers that be in the United States and beyond, leaders are debating if Bitcoin could play an important role in hedging economies against uncertainty. Globally, countries are looking at how Bitcoin might fit into their financial strategies. To name just a few:
- Some United States policymakers including President-elect Donald Trump and Senator Cynthia Lummis are pushing for a national Bitcoin reserve. Lummis’ proposal would convert some government gold reserves into Bitcoin and acquire up to one million Bitcoins over five years. While Elon Musk sounds the alarm about America's unsustainable $35 trillion debt, advocates of a national bitcoin reserve argue the move could help reduce the national debt, strengthen the dollar, and counter economic threats from competing nations like China and Russia.
- El Salvador was the first country to adopt Bitcoin as legal tender. They built a national Bitcoin reserve of over 5,900 coins which is now valued at more than $600 million, and see Bitcoin as a tool to boost financial inclusion and reduce reliance on traditional currencies. Yet the IMF wants El Salvador to scale back its Bitcoin dreams to unlock a $1.3 billion loan.
- In Switzerland, Bitcoin advocates are pushing for the Swiss National Bank to include Bitcoin in its reserves. They are aiming to change the constitution by a referendum that requires 100,000 signatures to proceed.
See: UK vs. Canada: A Tale of Two Different Crypto Consumers
- Bhutan quietly built a significant Bitcoin reserve through mining operations powered by hydroelectric energy, now worth $750 million or approx 27.9% of it's 2023 GDP. They are aiming to become a leader in sustainable Bitcoin mining.
- Lugano, Italy, launched Plan ₿, an initiative to integrate Bitcoin into daily life and transform the city’s financial infrastructure. Residents and businesses can use Bitcoin to pay for municipal services, taxes, and even small purchases. Lugano wants to be a blockchain innovation hub to boost the local economy and promote global cryptocurrency adoption.
- Brazilian lawmakers are considering a proposal to invest 5% of national reserves ($18.6 billion) in Bitcoin with the goal of diversifying financial assets and protecting against global risks.
Skeptics Speak Out
Critics are quick to point out Bitcoin's volatility and question whether it's a safe choice for public funds. Ex-U.S. Treasury Secretary Lawrence Summers has called the idea of a national Bitcoin reserve “crazy”, saying Bitcoin is too volatile and lacks the utility of assets like oil or gold. Summers believes that to manage the countries burgeoning debt the U.S. should focus on tax form and budget adjustments instead of betting on crypto.
“Why would the government choose to support a bunch of Bitcoin?” - Summers
See: Marathon Bitcoin Miner Ventures into Whisky Barrels
Closing Outlook
As the global conversation around Bitcoin as a reserve asset is heating up, Vancouver's Mayor Ken Sim is positioning the city as a key player. But it also raises questions about risk, volatility, and public trust.
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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Circle Becomes First Stablecoin to Meet Canadian VRCA Rules
Crypto Compliance | Dec 6, 2024
Image: USDC stablecoin
Circle Internet Group Inc., First Stablecoin Issuer to Meet Strict Canadian Listing Rules
Circle Internet Group Inc, announced by release that they are the first to meet Canada’s strict new rules for value-referenced crypto assets (VRCAs). These regulations are designed to make the stablecoin market safer and more transparent as it continues to grow.
What’s the Deal with VRCA Rules?
Stablecoins are becoming more prominent in Canada and the Canadian Securities Administrators (CSA) decided it was time to tighten the reins. The new VRCA rules required that stablecoin issuers prove that their coins are backed by real assets, operate transparently and meet strict security standards. In September 2024, the CSA extended the deadline to December 31, 2024 for platforms listing VRCA (stablecoins) to comply or they risk getting delisted from Canadian crypto platforms.
Circle's USDC Stablecoin Ticks Regulatory Boxes
Why does this matter? Well, if you’re a Canadian that uses stablecoins on Canadian crypto platforms, it means you’ll still have access to USDC after the deadline. Circle's compliance establishes them as a stablecoin leader in the space, and that they are serious about building trust, transparency and operating in a compliant manner. USDC is one of the most traded stablecoins globally, transacting billions of dollars every month. Stablecoins account for a large chunk of crypto activity in Canada.
See: “Crypto’s Back”, Stripe to Support On-Chain USDC Payments
While other stablecoin issuers like Tether Limited (USDT), Paxos Trust Company (PAX is now USDP) and TrustToken (TrustUSD) haven't yet announced compliance yet, and with the extended deadline of Dec 31, 2024 approaching, Circle's proactive approach sets a high bar for other players.
Closing Outlook
Circle’s USDC compliance with Canada's VRCA rules is a positive for Canada's crypto economy. Anticipate other stablecoin issuers to soon follow or risk being being delisted from Canadian crypto platforms.
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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Visual Deep Dive Into Large Language Models
AI | Dec 5, 2024
Image: Large Language Models Ranked (Information is Beautiful Nov 2024)
Understanding the Growth of GenAI with LLM Rankings and Industry Insights
Information is Beautiful maintains a data rich source full of infographics that depict how Large Language Models (LLMs) like ChatGPT compare with each other from OpenAI to Google, Microsoft and even Chinese versions. This resource visually maps out the rapid growth of artificial intelligence technologies, the key players, their advancements and benchmarks such as Massive Multitask Language Understanding (MMLU).
See: FSB’s Warnings of Hidden Stakes of AI in Finance
The complex implications of AI technology is profound and continues to evolve, creating questions about its role and impact on business, culture, and the environment are becoming more important. From small language models making AI more accessible to discussions about the environmental costs of training massive systems, these topics reflect the complex implications of this technology.
GenAI's Impact on Financial Technology
Below, we’ve rounded up some insightful articles from NCFA Canada’s archives that explore these themes, providing insights into the latest trends, opportunities, and challenges in AI.
- Canada’s $300M AI Funding Targets SMEs for Growth
Did you know Canada is investing $300 million to help small and medium-sized businesses (SMEs) adopt AI? This funding is part of a broader effort to make AI more accessible and boost innovation across the country. From streamlining operations to enhancing customer experiences, this funding should give SMEs the tools the need to complete on a global scale. - The Frontline of AI’s Copyright Law Battle in 2024 | Generative AI: A Primer On Canadian AI and IP
As AI-generated content becomes more common, it raises serious questions about copyright laws. Who owns the rights to a work created by AI? This article breaks down the key legal challenges and explores how courts and lawmakers are trying to keep up with the pace of technology and is for anyone concerned about the future of intellectual property in the age of AI. - Trudeau Announces $2.4 Billion AI Funding Package
The Canadian government made a massive commitment to AI innovation with a $2.4 billion funding package. This article explores how the funding will be allocated to research, commercialization, and workforce development, aiming to position Canada as a global leader in artificial intelligence. - AI, Funding Shifts and Regulatory Hurdles in Fintech 2024
The fintech industry is rapidly evolving, thanks to AI, but it’s not without its challenges. This article dives into the funding trends shaping fintech innovation and the regulatory roadblocks that businesses need to navigate. It’s an insightful read for anyone in the financial sector. - How Small Language Models are Changing the AI Landscape
While large language models like GPT-4 grab headlines, smaller models are quietly transforming the AI landscape. This article explores how these lightweight models are making AI more efficient, affordable, and sustainable, offering exciting opportunities for businesses of all sizes. - The Environmental Costs of AI: What You Need to Know
AI is powerful but it costs the environment. This post breaks down the energy and resources required to train large models and explores strategies for making AI greener. - Generative AI and Major Human Rights Fintech Risks
This post looks at the ethical considerations of AI in fintech, emphasizing the importance of diverse training data and clear recourse mechanisms to mitigate biases and uphold human rights. - NFX: Hot List of 75 Emerging AI Startups (Seed, Series A)
Looking for the next big thing in AI? This curated list features 75 of the most exciting early-stage AI startups making waves in industries like fintech, healthcare, and entertainment. It’s a goldmine for investors, innovators, and tech enthusiasts. - A Look Inside Canada’s AI Commercialization Challenge
Canada has made huge strides in AI research, but turning that research into market-ready products is another story. This article examines the hurdles facing Canadian companies, from funding gaps to scaling challenges, and offers insights into what needs to change.
Why These Articles Matter
Whether you’re an entrepreneur, policymaker, or curious reader, there’s something here for everyone. Explore these resources on NCFA Canada and stay informed about the future of AI.
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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