Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Entrepreneurs, Start-ups, Small Businesses
Ontario’s OSC Innovation Office Needs Your Voice! (Deadline Aug 28, 2023)
Capital Markets Innovation | Aug 21, 2023
Image: OSC Innovation Office
As we set our sights on contributing an impressive $29 trillion to the global economy by 2035, the collaboration, voice and feedback of startups and SMEs is paramount. The OSC is looking to understand what's working and what can be improved in Ontario's capital raising environment.
If you're an entrepreneur at the helm of a start-up or SME in Ontario, or an investor backing these ventures, your perspective is crucial. Your experiences and insights can significantly influence policies and processes, ensuring a conducive environment for businesses to excel.
From the OSC Innovation Office:
At the OSC Innovation Office, we’re committed to working together with businesses, investors, academic institutions and other partners to create the right conditions for innovation to flourish. We believe that innovative businesses that call Ontario home, or those looking to establish or expand their operations here, should have access to the money they need to build successful businesses in Ontario. As part of our commitment, we’re actively studying Ontario’s capital raising environment. We want to learn what's working and what could be improved.
Join Us in This Endeavour
Your experiences, both the challenges and triumphs, in capital raising can provide us with invaluable insights. By sharing your journey, you can assist us in devising strategies for a more prosperous future for all Ontario businesses.
See: March 1, 2019: NCFA Submission to the Ontario Securities Commission on Regulatory Burden
We invite you to collaborate with us in this pivotal initiative. Please participate in our confidential surveys by deadline August 28 and make your perspective count.
🔗 Entrepreneurs from start-ups & SMEs can access the survey here.
🔗 Investors in start-ups & SMEs can begin their survey here.
Together, let's fortify Ontario's position as the leading hub of innovation, and ensure every promising idea achieves its potential.
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 Companies are Scrambling for AI’s Most Valuable Asset
AI | Aug 17, 2023
Image: Unsplash/Markus Spiske
As AI models become more sophisticated, their hunger for data grows insatiable. This increasing demand has led to what industry insiders are calling a "data land grab."
In the dynamic realm of artificial intelligence (AI), data has emerged as the most coveted asset. The increasing sophistication of AI models has led to an insatiable demand for vast and diverse data sources. This has given rise to what many are terming a "data land grab." Companies are not only racing to acquire data but are also innovating to harness its power effectively.
The Data Land Grab and Adobe's Triumph
- Not long ago, analysts speculated that AI could spell the end for Adobe, a leading software maker for creatives. Innovations like DALL-E 2 and Midjourney, which generate images from text, seemed poised to make Adobe's image-editing tools obsolete.
See: Regulating AI in Canada: The Proposed AI and Data Act (Bill C-27)
- However, Adobe's strategic use of its vast database of stock photos to create the AI tool suite, Firefly, has been a game-changer.
- By refraining from indiscriminately mining the internet for images, Adobe has successfully navigated the murky waters of copyright disputes that plague the industry. Since Firefly's launch, Adobe's stock has soared by 36%, proving naysayers wrong.
Duality of Data Acquisition and Copyright Issues
- The quest for high-quality data is intensifying. However, accessing this data is becoming increasingly complex due to copyright concerns.
- Several copyright infringement lawsuits have been filed against AI model developers. For instance, OpenAI and Meta have faced legal challenges from authors and artists, including comedian Sarah Silverman, over content incorporated into AI models without proper permissions.
Corporate Data Is An Untapped Goldmine
- Many businesses possess vast amounts of untapped data, from call-center transcripts to customer spending patterns. This data can be invaluable for training AI models tailored for specific business applications.
See: Law Firms Face Dual Threats: AI Data Leaks and Cyberattacks
- Accessing and structuring this scattered and often unstructured data presents challenges. Tech giants like Amazon, Microsoft, and Google offer tools to businesses to manage and structure their vast datasets, helping them "tear down data silos."
The Rise of Data-focused Startups
- The growing demand for structured and accessible data has led to the emergence of startups offering innovative solutions for data management and acquisition. Companies like Weaviate, PineCone, and Neon have secured significant funding, indicating the growing importance of data management in the AI ecosystem.
- These startups typically offer platforms or tools that help businesses access, structure, and manage their data, charging either a subscription fee or a one-time licensing fee for their services.
The Race Is On, And the Stakes Are Higher Than Ever
In conclusion, as the AI industry continues its meteoric rise, the scramble for data shows no signs of slowing down. Companies that can navigate the challenges of data acquisition and harness the power of their data stand to gain a significant competitive edge in this new frontier of technology.
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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Federal Reserve Launches Novel Activities Supervision Program Targeting Digital Assets and Non-Bank Partnerships via Banks
Regulation | Aug 15, 2023
Image: Pixabay/sergeitokmakov
The Novel Activities Supervision Program is the Federal Reserve's latest initiative, signaling a transformative approach to banking oversight.
The Federal Reserve has launched the Novel Activities Supervision Program, targeting banking institutions to address the evolving challenges of modern finance. While financial innovations backed by new tech can benefit the U.S. economy and its consumers, they can also introduce new risks that might affect the stability and integrity of banking institutions.
The letter applies to all banking organizations supervised by the Federal Reserve, including those with $10 billion or less in consolidated assets to enhance the oversight of innovative activities undertaken by banking organizations under its supervision. The program will work in tandem with existing Federal Reserve supervisory teams. It will be risk-based, and the intensity of supervision will differ based on the level of engagement in innovative activities by each supervised banking organization.
See: The Federal Reserve Issues State Member Bank Guidance for ‘Dollar Tokens’ (Dollar-pegged Stablecoins)
Who's caught in scope?
- Partnerships with Non-Banks. Collaborations where a non-bank offers banking products and services to end-users, typically using technologies like application programming interfaces (APIs).
- Crypto-Asset Activities. This includes crypto-asset custody, crypto-backed lending, facilitating crypto trading, and involvement in stablecoin/dollar token issuance.
- DLT Projects. Exploration or utilization of DLT for various applications such as dollar token issuance and asset tokenization.
- Services to Crypto Entities and Fintechs. Banking organizations that primarily offer traditional banking services like deposits, payments, and lending to crypto-related entities and fintechs.
View the letter --> 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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From Techie to Tech Leader with these 5 Hacks
Aug 15, 2023
Image: Unsplash/Campaign Creators
Being a tech leader in the modern world doesn’t necessarily mean you're the go-to office tech guru. Sure, your tech-savvy-ness is conducive, but being a leader involves an entirely different set of skills besides just technical knowledge. A personal software update, if you will.
Check out the following advice from top tech leaders on how to go from techie to tech leader with these five simple hacks.
1. Learning: The Never-Ending Download
If you’re not staying up to date, you’re already just a blurb in yesterday’s news. As both an expert in the technology industry and a successful leader, your ability to learn and refine your skills must always remain at the forefront. To be an effective leader, you have to be an effective learner.
Visualize the desired culture you want for your team. Do you want a team of ambitious go-getters with a never-ending eagerness to discover the latest technological advances?
Sounds great, right?
The good news is you can have just that, but remember, as a leader… the culture begins with you. You must constantly expand your knowledge and inspire your team to do the same. Some ways we recommend doing this are by:
- Reading relevant publications and arranging a team discussion;
- Attending industry conferences with your team;
- Collaborating with startups to gain insight into disruptive innovations;
- Regular “check-ins” with the team;
- Goal setting and development of appropriate project check-points & timelines;
- Researching successful leaders and implementing techniques.
2. Communication: The Motherboard of Your Team
A team without communication is like a computer without a motherboard, and not just any communication will do.
Clear, concise, and effective communication is the only way to lead a team to success. Communication has always remained in the top requirements of any healthy relationship, even outside of the work field.
In fact, a toxic workplace with long work hours and an unsafe psychological work culture is three times more likely to contribute to an employee’s risk of depression.
You simply cannot effectively lead a team without establishing open lines of communication and building trust. In fact, poor communication is the #1 reason even the most lucrative teams fall apart.
Here are some valuable suggestions to ensure your team doesn’t fall into that category.
- From the start, clearly define each member’s role within the team;
- Despite your hectic work schedule, always make time for a team member requesting to speak with you;
- Always keep an open line of communication;
- Never forget that as a team leader, you set the tone as a role model. You ultimately are showing your team what is acceptable and not acceptable behavior. If there’s an issue within your team - look to yourself first.
3. Culture Connection: The MVP
As a role model, you are the MVP. You set the tone. And the tone is best when in tune with your teammates.
Your actions serve as guideposts for your team members to follow. Use these top tips to set (and keep) the right tone within your team:
- Develop a mentoring program to connect junior developers with a senior developer (be sure the senior developer is briefed and on board prior);
- Organize events in which individual team members can showcase their personal projects;
- Whenever possible, involve the team in decision-making and project planning.
Make it your personal mission to pull the motivation from each and every team member and watch the momentum of your team take off. An inspired team is an unstoppable team.
4. Innovation: The Ultimate Network
When talking about “innovation,” the term network continuously comes to mind. Your team is your literal interweb to utilize and customize as needed to achieve your goals (which should also be your team’s goals).
Developing a team with dedicated players placed in their desired designated roles is a recipe for success. While it sounds easy, very few team leaders actually accomplish this.
The key is to analyze your team as a leader rather than as a friend. This is a part of the entrepreneurial mindset. You wouldn’t put your best pitcher out in the left field, so don’t fill a spot in software development with a senior data analyst just because you two get along well and you can show him the ropes.
The best teams in the world are full of diverse individuals who may otherwise never be connected but become connected through a shared common goal.
5. Protect Your Team: Prioritize Cybersecurity
Your team is crushing it; you’re breaking company-wide records and exceeding goals faster than you can set them.
The downfall to building an unstoppable team and being victorious is that everyone wants a slice of the pie.
As a techie, you know just how detrimental a lack of cybersecurity is, and this could very well be the destroyer of your newfound A-team.
After all, a team is only as good as its weakest link, and if an error is made and data is breached, all the work you’ve done building this empire could come crashing down.
Protect yourself, your team, and your success by:
- Conducting regular security training sessions;
- Developing a strategy for encryption, secure coding practices, and proper data handling;
- Performing security audits;
- Using a VPN to ensure safe online practices by all team members. Learn more about NordVPN and Surfshark to pick the one that suits your needs the most.
Conclusion
Whether you are currently a techie looking to become a leader in your department or are already in a place of management, one thing we can all agree on is the importance of the team surrounding us.
It is ultimately your responsibility to ensure that you have the right teammates with the ability to communicate effectively, a suitable culture that recognizes and utilizes each member's individual talents, and the proper protection to keep your team focused on crushing goals, not cyberattacks.
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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Visa’s Solutions for the Creator Economy and Fintech Opportunities for Tomorrow’s Digital SMBs
Creator Economy | Aug 14, 2023
Image: Unsplash/Videodeck.co
The creator economy is evolving quickly with fintech innovations unlocking unprecedented monetization opportunities for content creators.
Tomorrow's Digital SMBs Lack Essential Financial Tools
The creator economy is often seen as the digital counterpart of traditional SMBs. These digital entrepreneurs, ranging from influencers and bloggers to artists and indie developers, are redefining the way we perceive small and mid-sized businesses (SMBs) - the Gig Economy. However, while they share many similarities in terms of business needs, the creator economy has its own set of challenges. For instance, creators, despite their ability to monetize their content, often find themselves treated as individual consumers rather than businesses. This distinction can lead to a lack of access to essential financial tools and services that are readily available to traditional SMBs.
Visa's Initiatives for the Creator Economy
Visa, with its global reach and expertise in the financial sector, has identified this gap and is keen on bridging it. The company believes that creators, much like SMBs, require robust financial solutions to manage inconsistent cash flows, slow platform payouts, and other challenges inherent to their profession. To address these challenges and empower creators, Visa has rolled out a series of initiatives:
- GetP@id Series: This innovative social video series is designed to foster mentorship within the creator community. By pairing up-and-coming creators with established professionals in fields like fashion, music, and food, the GetP@id Series offers a platform for knowledge exchange. Aspiring creators can gain firsthand insights and coaching from their mentors, benefiting not just the participants but also the wider audience.
See: Visa Files 2 Crypto Trademark Applications Including Crypto Wallet
- Visa Ready Creator Commerce Program: Recognizing the diverse platforms where creators operate, from social commerce sites to gaming companies, Visa has launched the Creator Commerce Program. This global initiative aims to seamlessly integrate financial tools into these platforms. Key features include faster and more flexible payout options through Visa Direct, as well as mechanisms for tipping and donations. By embedding these tools, Visa hopes to alleviate some of the financial pressures creators face, allowing them to focus on what they do best - creating.
Visa is not just recognizing the potential of the creator economy but is also investing in its future. As creators continue to push boundaries and redefine digital entrepreneurship, having robust financial partners like Visa will undoubtedly play a pivotal role in their success.
Secret Sauce of the Creator Economy
The creator economy is rapidly evolving, with new innovations and trends shaping its future. Here's a look at the latest developments and where the industry is headed:
- The creator economy has seen exponential growth, enabling millions to monetize their creativity through collaborations and brand partnerships.
- Influencer Marketing: It's not just about having a large following anymore. The key is engagement and relatability. Nano influencers and micro-influencers are becoming the future of influencer marketing.
- Creators have built genuine connections and authenticity with their audiences. Collaborating with values-aligned influencers can help brands leverage this trust.
See: Fintech Opportunities in the Wake of Tightened Credit Liquidity in Canada
- The creator economy allows brands to reach targeted niche audiences that align with their target consumers.
- Influencer marketing can be more cost-effective than traditional advertising channels. Nano influencers, with their authenticity and niche targeting, are ideal for influencer marketing.
- Collaborating with creators adds a human touch to brand marketing, allowing brands to tap into emerging trends and expand their reach.
A Closer Look at the Differences Between Creators versus SMBs
Here's a table comparing creators and SMBs (Small and Medium-sized Businesses) across key variables highlighting both the differences and similarities:
| Variable | Creators | SMBs |
| Primary Activity | Content creation (videos, blogs, art, music, etc.) | Product or service provision in various sectors (retail, manufacturing, services, etc.) |
| Revenue Source | Monetization of content (ads, sponsorships, merchandise, donations, etc.) | Sales of products/services, contracts, B2B transactions, etc. |
| Business Structure | Often individual or small teams; may not have formal business structures | Typically have formal business structures (LLC, Corporation, Partnership, etc.) |
| Financial Needs | Inconsistent cash flow, slow platform payouts, need for monetization tools | Regular cash flow management, inventory financing, capital expenditure, payroll, etc. |
| Client Interaction | Direct interaction with followers/fans; often through social media platforms | B2B or B2C interactions; may involve contracts, invoices, and formal agreements |
| Scale | Can be global from the start due to the nature of the internet | Often start local and expand regionally/nationally before going global |
| Regulatory Environment | Subject to platform-specific rules and online content regulations | Subject to industry-specific regulations, licensing, and compliance requirements |
| Tools & Platforms | Use of content creation tools, social media platforms, and monetization platforms | Use of business management software, CRM, ERP, industry-specific tools, etc. |
| Challenges | Platform algorithm changes, content theft, fluctuating audience engagement | Market competition, supply chain issues, regulatory compliance, economic downturns |
| Support Systems | Online creator communities, platform-specific support, mentorship programs (like Visa's GetP@id Series) | Industry associations, chambers of commerce, business mentorship programs, government SME support programs |
See: From Gaming to Gig Economy: How Canadians are Embracing New Payment Methods
10 Fintech Opportunities for the Emerging Creator Economy
Here are some top fintech opportunities and business models for creators, along with some examples:
| # | Opportunity | Description | Business Model |
|---|---|---|---|
| 1 | Digital Wallets & Payment Solutions | Offer seamless payment solutions for creators to receive funds from various platforms and currencies. | Transaction fees, subscription models, earning interest on stored funds. |
| 2 | Creator-specific Banking | Banks or financial platforms tailored to the needs of creators. | Monthly account fees, lending and overdraft fees, cross-selling other financial products. |
| 3 | Crowdfunding & Patronage Platforms | Platforms where creators can raise funds for specific projects or get support directly from their audience. | Taking a percentage of funds raised, subscription fees, advertising. |
| 4 | E-commerce Integration | Integrating e-commerce tools for creators to sell merchandise, digital products, or tickets to events. | Transaction fees, platform listing fees, subscription-based models. |
| 5 | Licensing & Royalty Management | Platforms that help creators license their content and manage royalties from multiple sources. | Commission on royalties collected, subscription fees, one-time licensing fees. |
| 6 | Financial Planning & Advisory for Creators | Offering financial planning services tailored to the unpredictable income streams of creators. | Fee-for-service, percentage of assets under management, subscription models. |
| 7 | Microloan Platforms | Providing short-term loans to creators based on projected earnings or upcoming contracts. | Interest on loans and associated fees. |
| 8 | Creator Insurance Products | Offering insurance products tailored to creators. | Premiums collected minus claims, cross-selling other insurance products. |
| 9 | Intellectual Property (IP) Marketplace | Platforms where creators can buy/sell IP rights or collaborate on joint projects. | Transaction fees, listing fees, subscription models. |
| 10 | Crypto & NFT Platforms for Creators | Platforms that enable creators to mint, sell, or auction Non-Fungible Tokens (NFTs) or receive cryptocurrency payments. | Transaction fees, minting fees, platform-specific tokens. |
Closing Thoughts
The creator economy is not just a fleeting trend; it's a dynamic and burgeoning sector that's reshaping the digital landscape. As creators continue to redefine entrepreneurship in the digital age, there lies a vast, untapped reservoir of opportunities for fintechs, banks, and financial institutions. By understanding the unique financial needs and challenges of creators, these entities have a golden chance to innovate, differentiate, and lead in a market that's ripe for disruption.
See: Monetizing the Creator Economy Through Social Tokens
The fusion of technology and finance has always been about breaking barriers and enabling dreams. Now, it's time to empower the dreams of millions of creators worldwide: Carpe Diem! Seize the day and be the financial backbone of the creator revolution.
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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Decoding Emoji Interpretations Across Generations: Legal Implications and Regulatory Insights
Analysis | Aug 11, 2023
Image: Unsplash/Wu yi
In the digital age, the colorful world of emojis collides with legal landscapes, revealing stark generational divides and prompting regulators to decode their true intent.
In the evolving landscape of digital communication, Bloomberg Law sheds light on the intricate dance between emojis and the legal world, revealing how these seemingly innocuous symbols are now at the forefront of court decisions, regulatory measures, and potential misinterpretations across generations.
Here's a Rundown of Key Takeaways
- Emojis have become a significant subject in court decisions and regulatory initiatives.
- Canada - Courts have started interpreting emojis, such as a thumbs-up emoji being considered a signature agreement to a contract in Canada.
- U.S. - The Southern District of New York interpreted certain emojis in a social media post promoting non-fungible tokens, as indicating a financial return on investment.
- UK - The Financial Industry Regulatory Authority (FINRA) has noted that emojis in texts could be viewed as customer complaints. According to FINRA's guidelines, companies are are expected to “reasonably” supervise electronic communications using a “risk-based” approach.
- There are challenges in monitoring emojis, especially given the lack of technology to review the vast number of emojis in use.
- The interpretation of emojis can vary based on the age of the sender and recipient. For instance, while older generations might see a thumbs-up emoji as a positive sign, Gen Z might interpret it as an insult.
- The context in which an emoji is used is crucial. For example, a single emoji can have multiple meanings depending on the situation.
- Broker-dealers face challenges in reviewing vast amounts of electronic communications containing emojis.
The Generational Gap in Emoji Interpretation
Emojis, initially introduced as a fun way to express emotions in digital communication, have seen varied interpretations across generations.
See: New York Judge Rules Emojis Count as Financial Advice in Dapper Labs Court Case
For instance, the older generation, who witnessed the dawn of digital communication, often use emojis in their most literal sense. In contrast, younger generations, particularly Gen Z, have ascribed new, sometimes radically different meanings to the same symbols.
- Thumbs-Up Emoji (👍):
- Older Generations: A sign of affirmation, agreement, or a job well done.
- Gen Z: Often used sarcastically, implying indifference or even a dismissive "whatever."
- Clapping Hands Emoji (👏):
- Older Generations: Applause or congratulations.
- Gen Z: Used between words for emphasis, as in "Well 👏 Done 👏."
- Crying Laughing Emoji (😂):
- Older Generations: Finding something hilarious.
- Gen Z: Some members of this generation consider it outdated, preferring the skull (💀) to imply "I'm dead (from laughter)."
Implications in Contracts and Court
- The varied interpretations of emojis can lead to significant misunderstandings, especially in formal settings like contracts.
- A thumbs-up emoji, seen as a casual affirmation by a younger individual, might be considered a formal agreement by an older counterpart.
- Such ambiguities have already made their way to courtrooms. For instance, a Canadian court ruled that a thumbs-up emoji constituted a signature agreement to a contract, highlighting the potential legal weight of these symbols.
See: CSA and IIROC Issue Joint Guidance (Staff Notice 21-330) for Crypto-Trading Platforms Related to Advertising and Social Media
Towards Standardizing Emoji Communications?
- Given the complexities, is there a push towards standardizing emoji interpretations in formal communications?
- While the idea might seem excessive, the increasing instances of emojis in legal and business documents make the proposition worth considering. However, the dynamic and culturally varied nature of emoji interpretations makes standardization challenging.
Recommendations for Emoji Use in Business
- While emojis can make communication concise, it's essential to prioritize clarity, especially in formal business communications.
- If there's potential for an emoji to be misinterpreted, it's best to avoid ambiguity or provide clear context.
- Be aware of the age group and cultural background of your audience - know your audience. An emoji that's clear to one demographic might be confusing to another.
See: New SEC task force will scrutinize ESG and climate disclosures and marketing
- Contracts, legal documents, and other formal communications should minimize emoji use to avoid potential disputes.
- Especially in multinational corporations, it's beneficial to get feedback and confirmation on communications to ensure emojis and other elements are universally understood.
Conclusion
Emojis, while a vibrant and expressive form of communication, come with their set of challenges, especially across generational lines. As they find their way into more formal realms, it's imperative for businesses and legal professionals to navigate the nuances carefully. While standardizing emoji communications might seem a step too far now, it's a conversation that might become essential in the not-so-distant 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, 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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AOIP Advocates for Enhanced Capital Formation and Investment Opportunities for SMEs
Capital Markets Advocacy | Aug 9, 2023
The Association of Online Investment Platforms (AOIP) has formally addressed Congress by sending a letter to Congressman Patrick McHenry, emphasizing the significance of the Jumpstart our Business Startups Act of 2023.
AOIP, an advocacy group in the United States, champions the cause of both private firms seeking growth capital and smaller investors aiming for private market access. The group acknowledges the positive impact of the JOBS Act since 2012 but expresses concerns over potential regulatory challenges that may hinder capital access for a broader audience.
See: Fintech Fridays EP57: 10 Years of Investment Crowdfunding: Past, Present & Future Since the JOBS Act
Who are the AOIP?
The Association of Online Investment Platforms (AOIP) is an advocacy group with a mandate that revolves around fostering a conducive environment for online investments, supporting SMEs, and ensuring that regulatory frameworks are balanced to promote growth while safeguarding investor interests. The names listed on the letter include:
- Maxwell R. Rich: President of AOIP and also holds positions as Deputy General Counsel, VP of Regulatory Affairs, and Secretary at Republic.
- Bill Clark: CEO/Founder of MicroVentures.
- Ryan Feit: Co-Founder of SeedInvest.
- Kendrick Nguyen: CEO/Co-Founder of Republic.
- Rebecca Kacaba: Dealmaker.
- Giovanni Corrado: Associated with Republic.
See: Improving the Regulatory Environment for Entrepreneurial Capital Formation: JOBS Act 4.0
Takeaways from AOIPs Letter
- Concerns Over Regulatory Challenges: AOIP acknowledges the positive strides made since the inception of the JOBS Act in 2012. However, they express growing concerns about potential regulatory challenges that might hinder broader access to capital and investment opportunities, especially for small businesses.
- Emphasis on SMEs' Importance and Challenges: The letter underscores the surge in entrepreneurship, with a notable increase in new business applications. Highlighting data from the U.S. Chamber of Commerce, AOIP points out the surge in entrepreneurship, with over 5.4 million new business applications in 2021. Despite this, small businesses face declining access to growth capital. The SEC Small Business Capital Formation Advisory Committee has voiced concerns over the challenges faced by small firms and stresses the SEC's pivotal role in fostering a conducive environment for investors.
- Endorsement of Legislative Initiatives: AOIP endorses several legislative initiatives from the House Financial Services Committee. These initiatives aim to expand the definition of "accredited investor," promote public offerings, and address other areas to improve access to capital for businesses and investment opportunities for smaller investors.
These takeaways encapsulate AOIP's advocacy for a balanced regulatory environment that supports the growth of small businesses and ensures broader access to investment opportunities.
See: JOBS Act 4.0: Association of Online Investment Platforms Sends Letter to Congress
President of the AOIP, Maxwell Rich:
“Now, more than ever, Congress must take due consideration to JOBS Act 4.0 and push it forward. A decade post JOBS Act of 2012, many of its promises for small businesses and mainstream investors are in sight and the risks and concerns of this novel legislation, originally voiced by its detractors, are unrealized. Small and emerging businesses are in need of routes to capital beyond what is currently authorized by law; venture capital funding to new and emerging companies is down over 50% and interest rates are at historic highs. Congress has the power to help, and the AOIP strongly supports the bills enumerated in its most recent letter and its members are available to the legislative, executive and third-parties who may need counseling on their potential benefits to the American economy and investors of all walks of life.”
View the full letter --> 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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