Category Archives: Fintech International

World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding

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Crowdfund Insider | | Sep 18, 2018

In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns.

OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age.

CI recently caught up with Jon Medved, the ubiquitous founder and CEO of OurCrowd, for an update on platform progress as they execute on their mission to democratize access to opportunity.


Earlier this year, you indicated OurCrowd would top USD $1 billion of investment at some point this year. Is this still on track?

Jon Medved: Yes, our growth in both active new investors and average investment sizes are scaling according to plan through the first half and we believe we will have an even stronger second half result.

Recently OurCrowd was recognized as the top VC in Israel, do you think you can replicate this accomplishment in other countries over time?

Jon Medved: Our focus is on becoming not only the “most active VC investor” but becoming one of the “most successful VC investors.”

When we started, I don’t think many believed that our model could scale this effectively, yet here we are.

Since this asset class has a long growth curve of 7-10 years or beyond to bear the greatest fruits, we know we need to be persistent but patient.

We now have 20 different portfolio companies whose value is $100 million or more, so many of our investments are starting to mature and we are encouraged by their progress. The next phase will clearly be to replicate our level of activity in Israel to other regions of the world. While we are already sourcing about 30% of our deals outside of Israel, we would like to grow this percentage. The key to doing this will be to open up more offices (we already have 11 worldwide offices), sign more global strategic partners, and to engage more active investors who will help us source and diligence quality deal flow in their regions and their areas of expertise.

See:

This month, OurCrowd announced its second investment in unicorn Klook which was your first China investment. How is deal flow for China based firms?

Jon Medved: Our growing network in Asia is a credit to the strong partnerships we have enjoyed in the region. As with everything in our industry, the winning formula always starts with the right people. Not only the people within our organization and across our strategic alliances, but the people we choose to invest in.

In Asia, more than anywhere, access to deals comes from a position of trust. As we grow our investment community in Asia, we hope to find more deals like Klook. Asia has so much promise and upside and spectacular entrepreneurs—but the key will be to deliver added value to these companies and provide them with important access to the rest of our global network.

OurCrowd has a growing portfolio of sector funds for investors. How are these progressing? Will you always offer single firm investments?

Jon Medved: Absolutely we will continue to offer single firm investments; this has been and will continue to be the bedrock of our investment platform.

Our unique ability to deliver deal-by-deal discretion and the “freedom of choice” continues to be a really exciting core of our business. This is especially true as we offer companies at different stages (from Series A to Series E), in different sectors, and with the ability to invest in multiple rounds (we have some companies where we have already participated in 5 rounds of funding!)

The fact that someone can access great globally recognized venture capital funds with a minimum investment of only $50,000 is a game changer.

However, that said, we are also excited by the growing fund opportunities that we are providing on the platform. We now offer 13 different funds, which fulfill a real need for our investors who want managed portfolios and diversification.  The fact that someone can access great globally recognized venture capital funds with a minimum investment of only $50,000 is a game changer. While maintaining our single company investments we also plan to also expand our fund model to many other sectors and strategies, because there is a real synergy between our funds and the single companies on our platform.

More:

 

What about institutional growth. Last time we spoke much of the platform growth was being fueled by institutional money. Is this continuing? What type of institutional interest are you seeing?

Jon Medved: We have indeed signed several agreements recently with institutional investors who have become our largest and most active investors and partners to date.

What is really exciting about this institutional growth is that it has not come at the expense of our 25,000 accredited investor base. We continue to grow this accredited investor base, and we are proud that we continue to offer deal access to both the individual accredited investor and the huge institution on the same terms. This is a fulfillment of our goal to democratize access to quality venture capital. We are seeing growing institutional interest in our individual company investments especially as many of our deals start to raise $10 million and up on our platform, where there is room for institutions to take a real swing and get the size they want.

Also, the institutions like the fact that they can build their own personalized fund of funds on our platform where they can get a basket of funds without paying the additional fees and carry normally associated with fund of funds.

Continue to the full article --> here


The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
Read More
World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding
Betakit | Jonathan Shaanan | Sep 24, 2018 Last year, we released the first edition of Ferst Capital Partners’ FinTech Map, plotting all FinTechs serving Canadians by vertical and growth stage. We received a lot of great feedback and were proud to see our work referenced by both investors and regulators. Today, we are releasing an updated version, along with some other telling charts on the overall state of FinTech in Canada. There is a lot of data packed into these charts (426 companies were analyzed), so we encourage you to grab a cup of coffee and take your time as you go through them. We have included several of our own takeaways below each diagram but, with plenty of ways to slice the data, you will undoubtedly develop many of your own. As a result of this exercise, we found two recurring themes worth highlighting. The first one is obvious to all of us tracking the space, while the second may be more subtle. If we want home-grown companies to lead the next wave of financial services in Canada, both regulators and investors will need to play their part. The more obvious theme is that the cryptocurrency and blockchain ...
Read More
The state of Canadian FinTech in four charts
Management Today UK | by Conrad Thompson | Sep 21, 2018 Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson. The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change. Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society. Co-create Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more ...
Read More
5 ways regulation can be a competitive advantage to British business
NCFA Canada | Sep 21, 2018 Ep10-Sep 21: A Regtech-based Blockchain KYC Solution for Document Custody About this episode: On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Brice Penaud, CEO, Commercial Passport Bio: Commercial Passport provides global digital KYC solutions, helping financial institutions reduce the time to on-board clients by automating beneficial ownership analysis and client document maintenance. Based in Toronto, Canada, Commercial Passport’s Universal KYC Solution is a paradigm shift in KYC collection, providing senders and receivers a clear chain of custody for KYC documents through blockchain technology. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody how are you doing today Manseeb Khan here . And you tuning in to Fintech Friday's today. I have. OK. I know I see this every episode. But I do have a really incredible guest today ...
Read More
FINTECH FRIDAY$ (EP.10-Sep 21):  A Regtech-based Blockchain KYC Solution for Document Custody with Brice Penaud, CEO Commercial Passport
The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
Read More
Coinsquare moves into ETF business with two new funds
FastCompany | By Lydia Dishman | Sep 20, 2018 When you have a technology that’s only 10 years old, women and underrepresented minorities have the chance to change this corner of the tech industry. Yael Rozencwajg recently had an experience that was unusual for a woman in tech. Speaking at a conference for executives in the blockchain and Internet of Things (IoT) space, Rozencwajg found herself explaining the digital ledger system that forms the basis of blockchain technology to about 200 people, most of whom were white, male CEOs. “There was a lot they didn’t know,” the founder of startup Blockchain Israel tells Fast Company. The difference was that the audience was respectful and deferential, despite the prevailing reality that when women are outnumbered in a work setting like this, several studies show that they are talked over, interrupted, or simply ignored. Rozencwajg chalks it up to the relative newness of the blockchain space. The technology is only 10 years old and was initially used to record bitcoin transactions. But its applications have since moved from solely recording bitcoin and other digital currency transfers to smart contracts and other transactions that need the security that an immutable record can provide ...
Read More
Meet the women who are making sure blockchain is inclusive
Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
Read More
Immersive 2-day Blockchain Developer Training Course (Nov 10-11, Toronto): Decentralized Application Development
Incipient Industries | Steven Dryall | Sep 19, 2018 Incipient Industries Releases Whitepaper Describing How Cryptocommodities  Are Created and Used As The Basis For A Stable Cryptocurrency Toronto, ON, Canada, September 17, 2018 - Incipient Industries Inc. announces the release of the definitive whitepaper on the subject of cryptocommodities. Following years of development combined with the dissemination of information related to cryptocurrency viability and asset- based cryptocurrencies, an actual description of how to deploy a cryptocommodity  is now available. This is a first in the burgeoning cryptocurrency industry and represents a significant step towards a stabilized digital economy. The cryptocurrency industry is still developing and discovering ways to integrate with traditional financial systems or to replace them altogether. The introduction of cryptocoomodities into the cryptosphere creates a new category of opportunities for pioneers in the space. For those seeking a solution to a stable cryptocurrency, this is the best path to success. See:  3 Clever Ways To Reach Crypto Price Stability, And One Giant Leap Of Faith “This is a perfect use case for cryptocurrency and also follows the Three Pillars of a Viable Cryptocurrency framework.” says Steven Dryall, CEO of Incipient Industries, who has pioneered several key concepts of ...
Read More
Whitepaper Provides Information About Cryptocommodities As The Basis For A Stable Cryptocurrency
Bloomberg | Joshua Brustein | Sep 4, 2018 With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts. In 1971, an 11th grader named Greg Strebel wrote the introduction to a book about Ocean Falls, the tiny town in the British Columbian hinterlands where he lived. Strebel mentioned the odd fact that many of the town’s roads were made of wood, said the weather wasn’t as bad as some people made it out to be and noted that it had just gotten a new school building. But the one thing that mattered above all, according to Strebel, was the paper mill. “To most, 'the mill’ imparts a sense of security by its presence,” he wrote. “A low throb of power is audible throughout most of the town as long as the mill runs, accompanied by voluminous exhalations of steam.” The security provided by the mill turned out to be fleeting. It went silent when Strebel was in his 20s. Most of the buildings in Ocean Falls that haven’t been demolished over the decades are crumbling in place, and Strebel, along with most everyone who once lived there, is long gone. A ...
Read More
The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
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$5 million Equity crowdfunding extended to private companies

 

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5 ways regulation can be a competitive advantage to British business

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Management Today UK | by Conrad Thompson | Sep 21, 2018

Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson.

The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change.

Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society.

Co-create

Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more closely together, to ensure that the rules reflect the practicalities of running a fast moving business.

There are some examples where this is already happening, such as through the Ofgem and FCA sandboxes, which allow unauthorised companies to test out new products and services in an controlled environment. Sixty firms have been through the FCA’s regulatory sandbox, resulting in material changes to the data they ask for and the way they ask for it, as well as helping new entrants to attain banking licences far faster. This has already proven to be an advantage for the UK’s burgeoning fintech scene.

See:  Regulating disruption

Lack of money is no excuse for regulators not pursuing these kinds of creative approaches. The Department for Business, Energy and Industrial Strategy has recently launched its Regulator Pioneer Fund which will see it invest up to £10m over two years to support regulators with initiatives that help businesses bring innovative products and services to market. This is explicitly designed to ensure regulation does not get in the way of new approaches and business models.

Empower the consumer

Regulators’ primary responsibility is to protect society from the excesses of the free market. But this too can be a competitive advantage to the UK’s firms. Aside from acting as a badge of quality in international markets, effective regulation can help build consumer trust, especially when it involves providing the public with clear and reliable information. This, in turn, can help businesses retain and recruit customers.

Just think how Ofsted’s assessment of whether schools range from outstanding to inadequate has helped parents make far more informed choices and driven poorer performing schools to improve. Imagine doing that in other areas such as banking or healthcare – and really promoting those assessments so more consumers are aware of and use them.

Play to Britain’s strengths

Clearly in the short term businesses need certainty around Brexit. But looking further ahead, Brexit gives UK regulators the opportunity to create world-leading regulatory frameworks that set standards globally and play to the strengths of British businesses.

The UK will be able to implement regulatory frameworks that amplify areas where UK businesses have competitive advantage and the regulatory regimes can be a differentiator for the UK’s products and services. For example, the Civil Aviation Authority is looking to establish a clearer framework for how organisations can adopt new technologies, which will help British businesses be at the forefront of industry innovations such as drone taxis.

See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators

Cross traditional boundaries

Regulators need to work across traditional sector boundaries to maximise innovation opportunities.  Whilst UK regulators within the same industry frequently co-operate (for example the FCA, the Prudential Regulation Authority, the Pensions Regulator and others in the financial sector), they should also be looking to innovate further by learning from one another and by introducing ideas from other sectors. For example the Gambling Commission, in considering the future re-tendering of the National Lottery, adopted a scenario planning technique more typical in the energy sector to help potential suppliers consider different future worlds for how gambling might evolve.

Regulators are also increasingly recognising the need to encourage innovation on a more global basis, particularly for services that apply across borders. For example, the FCA has collaborated with 11 regulatory bodies from Europe, the Far East and the US on the creation of a Global Financial Innovation Network.

Continue to the full article --> here


The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
Read More
World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding
Betakit | Jonathan Shaanan | Sep 24, 2018 Last year, we released the first edition of Ferst Capital Partners’ FinTech Map, plotting all FinTechs serving Canadians by vertical and growth stage. We received a lot of great feedback and were proud to see our work referenced by both investors and regulators. Today, we are releasing an updated version, along with some other telling charts on the overall state of FinTech in Canada. There is a lot of data packed into these charts (426 companies were analyzed), so we encourage you to grab a cup of coffee and take your time as you go through them. We have included several of our own takeaways below each diagram but, with plenty of ways to slice the data, you will undoubtedly develop many of your own. As a result of this exercise, we found two recurring themes worth highlighting. The first one is obvious to all of us tracking the space, while the second may be more subtle. If we want home-grown companies to lead the next wave of financial services in Canada, both regulators and investors will need to play their part. The more obvious theme is that the cryptocurrency and blockchain ...
Read More
The state of Canadian FinTech in four charts
Management Today UK | by Conrad Thompson | Sep 21, 2018 Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson. The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change. Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society. Co-create Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more ...
Read More
5 ways regulation can be a competitive advantage to British business
NCFA Canada | Sep 21, 2018 Ep10-Sep 21: A Regtech-based Blockchain KYC Solution for Document Custody About this episode: On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Brice Penaud, CEO, Commercial Passport Bio: Commercial Passport provides global digital KYC solutions, helping financial institutions reduce the time to on-board clients by automating beneficial ownership analysis and client document maintenance. Based in Toronto, Canada, Commercial Passport’s Universal KYC Solution is a paradigm shift in KYC collection, providing senders and receivers a clear chain of custody for KYC documents through blockchain technology. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody how are you doing today Manseeb Khan here . And you tuning in to Fintech Friday's today. I have. OK. I know I see this every episode. But I do have a really incredible guest today ...
Read More
FINTECH FRIDAY$ (EP.10-Sep 21):  A Regtech-based Blockchain KYC Solution for Document Custody with Brice Penaud, CEO Commercial Passport
The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
Read More
Coinsquare moves into ETF business with two new funds
FastCompany | By Lydia Dishman | Sep 20, 2018 When you have a technology that’s only 10 years old, women and underrepresented minorities have the chance to change this corner of the tech industry. Yael Rozencwajg recently had an experience that was unusual for a woman in tech. Speaking at a conference for executives in the blockchain and Internet of Things (IoT) space, Rozencwajg found herself explaining the digital ledger system that forms the basis of blockchain technology to about 200 people, most of whom were white, male CEOs. “There was a lot they didn’t know,” the founder of startup Blockchain Israel tells Fast Company. The difference was that the audience was respectful and deferential, despite the prevailing reality that when women are outnumbered in a work setting like this, several studies show that they are talked over, interrupted, or simply ignored. Rozencwajg chalks it up to the relative newness of the blockchain space. The technology is only 10 years old and was initially used to record bitcoin transactions. But its applications have since moved from solely recording bitcoin and other digital currency transfers to smart contracts and other transactions that need the security that an immutable record can provide ...
Read More
Meet the women who are making sure blockchain is inclusive
Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
Read More
Immersive 2-day Blockchain Developer Training Course (Nov 10-11, Toronto): Decentralized Application Development
Incipient Industries | Steven Dryall | Sep 19, 2018 Incipient Industries Releases Whitepaper Describing How Cryptocommodities  Are Created and Used As The Basis For A Stable Cryptocurrency Toronto, ON, Canada, September 17, 2018 - Incipient Industries Inc. announces the release of the definitive whitepaper on the subject of cryptocommodities. Following years of development combined with the dissemination of information related to cryptocurrency viability and asset- based cryptocurrencies, an actual description of how to deploy a cryptocommodity  is now available. This is a first in the burgeoning cryptocurrency industry and represents a significant step towards a stabilized digital economy. The cryptocurrency industry is still developing and discovering ways to integrate with traditional financial systems or to replace them altogether. The introduction of cryptocoomodities into the cryptosphere creates a new category of opportunities for pioneers in the space. For those seeking a solution to a stable cryptocurrency, this is the best path to success. See:  3 Clever Ways To Reach Crypto Price Stability, And One Giant Leap Of Faith “This is a perfect use case for cryptocurrency and also follows the Three Pillars of a Viable Cryptocurrency framework.” says Steven Dryall, CEO of Incipient Industries, who has pioneered several key concepts of ...
Read More
Whitepaper Provides Information About Cryptocommodities As The Basis For A Stable Cryptocurrency
Bloomberg | Joshua Brustein | Sep 4, 2018 With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts. In 1971, an 11th grader named Greg Strebel wrote the introduction to a book about Ocean Falls, the tiny town in the British Columbian hinterlands where he lived. Strebel mentioned the odd fact that many of the town’s roads were made of wood, said the weather wasn’t as bad as some people made it out to be and noted that it had just gotten a new school building. But the one thing that mattered above all, according to Strebel, was the paper mill. “To most, 'the mill’ imparts a sense of security by its presence,” he wrote. “A low throb of power is audible throughout most of the town as long as the mill runs, accompanied by voluminous exhalations of steam.” The security provided by the mill turned out to be fleeting. It went silent when Strebel was in his 20s. Most of the buildings in Ocean Falls that haven’t been demolished over the decades are crumbling in place, and Strebel, along with most everyone who once lived there, is long gone. A ...
Read More
The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
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$5 million Equity crowdfunding extended to private companies

 

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$5 million Equity crowdfunding extended to private companies

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Australian Financial Review | Michael Bailey | Sep 12, 2018

Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament.

The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas.

Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors.

See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies

Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards.

Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross assets or more, or 50 employees or more, have previously had to prepare such reports.

Those private companies accessing equity crowdfunding will also become subject to related party transaction rules and takeover rules, and will have to include details about the offer and the shareholders as part of their company register.

Some compliance relief has been provided to the unlisted public companies already eligible to use equity crowdfunding.

Now, all companies raising money via the crowd will only have to have their financial statements audited when they have raised $3 million or more, up from $1 million previously.

The cost and compliance of converting to an unlisted public company had previously deterred most businesses from considering equity crowdfunding, said Jonny Wilkinson, co-founder of one of the ASIC-licensed portals, Equitise.

 "Having a formalised structure and process for smaller proprietary companies to raise funds from the crowd - their customers, friends and family - will be a huge boost to small businesses and the economy, driving both growth and employment," he said.

"In turn, it also gives everyday investors the opportunity to invest in these companies and potentially make a return."

See:  Equity crowdfunding is eroding the best returns VC funds used to enjoy

The performance of equity crowdfunding has been mixed in its most established market, the UK, where it has been legal since 2011 . A 2016 study by licensed platform Seedrs of the 250 companies that had used it to raise money found they had produced an overall 14.4 per cent internal rate of return, but 41 per cent of the deals had lost money or collapsed altogether.

The quality of companies seeking funding on equity crowdfunding  platforms was questioned by 2018 research from Belgium's Ghent University and France's SKEMA School of Business, which compared data from 277 firms that sought financing on UK-based Crowdcube with two sets of similar firms that didn't list on crowdfunding platforms.

Continue to the full article --> here

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
Read More
World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding
Betakit | Jonathan Shaanan | Sep 24, 2018 Last year, we released the first edition of Ferst Capital Partners’ FinTech Map, plotting all FinTechs serving Canadians by vertical and growth stage. We received a lot of great feedback and were proud to see our work referenced by both investors and regulators. Today, we are releasing an updated version, along with some other telling charts on the overall state of FinTech in Canada. There is a lot of data packed into these charts (426 companies were analyzed), so we encourage you to grab a cup of coffee and take your time as you go through them. We have included several of our own takeaways below each diagram but, with plenty of ways to slice the data, you will undoubtedly develop many of your own. As a result of this exercise, we found two recurring themes worth highlighting. The first one is obvious to all of us tracking the space, while the second may be more subtle. If we want home-grown companies to lead the next wave of financial services in Canada, both regulators and investors will need to play their part. The more obvious theme is that the cryptocurrency and blockchain ...
Read More
The state of Canadian FinTech in four charts
Management Today UK | by Conrad Thompson | Sep 21, 2018 Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson. The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change. Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society. Co-create Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more ...
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5 ways regulation can be a competitive advantage to British business
NCFA Canada | Sep 21, 2018 Ep10-Sep 21: A Regtech-based Blockchain KYC Solution for Document Custody About this episode: On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Brice Penaud, CEO, Commercial Passport Bio: Commercial Passport provides global digital KYC solutions, helping financial institutions reduce the time to on-board clients by automating beneficial ownership analysis and client document maintenance. Based in Toronto, Canada, Commercial Passport’s Universal KYC Solution is a paradigm shift in KYC collection, providing senders and receivers a clear chain of custody for KYC documents through blockchain technology. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody how are you doing today Manseeb Khan here . And you tuning in to Fintech Friday's today. I have. OK. I know I see this every episode. But I do have a really incredible guest today ...
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FINTECH FRIDAY$ (EP.10-Sep 21):  A Regtech-based Blockchain KYC Solution for Document Custody with Brice Penaud, CEO Commercial Passport
The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
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Meet the women who are making sure blockchain is inclusive
Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
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Incipient Industries | Steven Dryall | Sep 19, 2018 Incipient Industries Releases Whitepaper Describing How Cryptocommodities  Are Created and Used As The Basis For A Stable Cryptocurrency Toronto, ON, Canada, September 17, 2018 - Incipient Industries Inc. announces the release of the definitive whitepaper on the subject of cryptocommodities. Following years of development combined with the dissemination of information related to cryptocurrency viability and asset- based cryptocurrencies, an actual description of how to deploy a cryptocommodity  is now available. This is a first in the burgeoning cryptocurrency industry and represents a significant step towards a stabilized digital economy. The cryptocurrency industry is still developing and discovering ways to integrate with traditional financial systems or to replace them altogether. The introduction of cryptocoomodities into the cryptosphere creates a new category of opportunities for pioneers in the space. For those seeking a solution to a stable cryptocurrency, this is the best path to success. See:  3 Clever Ways To Reach Crypto Price Stability, And One Giant Leap Of Faith “This is a perfect use case for cryptocurrency and also follows the Three Pillars of a Viable Cryptocurrency framework.” says Steven Dryall, CEO of Incipient Industries, who has pioneered several key concepts of ...
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Bloomberg | Joshua Brustein | Sep 4, 2018 With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts. In 1971, an 11th grader named Greg Strebel wrote the introduction to a book about Ocean Falls, the tiny town in the British Columbian hinterlands where he lived. Strebel mentioned the odd fact that many of the town’s roads were made of wood, said the weather wasn’t as bad as some people made it out to be and noted that it had just gotten a new school building. But the one thing that mattered above all, according to Strebel, was the paper mill. “To most, 'the mill’ imparts a sense of security by its presence,” he wrote. “A low throb of power is audible throughout most of the town as long as the mill runs, accompanied by voluminous exhalations of steam.” The security provided by the mill turned out to be fleeting. It went silent when Strebel was in his 20s. Most of the buildings in Ocean Falls that haven’t been demolished over the decades are crumbling in place, and Strebel, along with most everyone who once lived there, is long gone. A ...
Read More
The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
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$5 million Equity crowdfunding extended to private companies

 

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Tech Nation startup programme demonstrates richness of UK fintech

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Computer Weekly | Karl Flinders | Sep 13, 2018

A Tech Nation programme to support the UK's financial technology startups demonstrates the increasingly diverse range of business-to-business products and services available through the country's fintech community

Financial technology (fintech) is providing a market where IT professionals in the finance sector and beyond can find answers to their business challenges through specialist tech startups.

UK-based CIOs have the benefit of having these fintech startups on their doorstep.

UK government-backed startup network Tech Nation has selected 20 such fintech startups to take part in a five-month programme that aims to scale up early-stage companies.

The programme’s business-to-business (B2B) focus demonstrates that beyond the high-profile digital challenger banks and payments companies targeting consumers with funky apps, there is a deep source of niche financial services IT innovation in the UK.

Fintech solutions begin life as an idea about how to use technology to solve a particular financial services problem. The speed of software development today means products can quickly follow.

See:  UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

But the challenges really begin when it comes to turning a great idea into a commercial success. This is where the likes of Tech Nation come in.

Growing appetite for fintech

In its first guise, Tech Nation was launched in Shoreditch in 2011, by then prime minister David Cameron, to support the East London tech cluster known as London Tech City. It initially offered broad support across the UK tech startup sector, but such is fintech’s rise, Tech Nation has introduced a dedicated fintech support programme.

This not surprising, as the appetite for fintech products among financial firms, their customers and investors is insatiable – and the UK finds itself on the top table.

Fuelled by the $12.9bn deal that saw Vantiv acquire WorldPay, investment in UK fintech in the first half of 2018 reached $16bn, compared with $14bn in the US and just more than $15bn in China.

Meanwhile, the take-up of financial technology, and its impact on the global finance sector, is overt. Recent figures from the European Banking Federation revealed that European retail banks shut down 5,900 branches in 2017. This was brought about by the arrival and widespread acceptance of online banking and mobile banking apps. Banks simply do not need as many branches because people prefer the convenience of managing their money on their smartphones.

See:  Ontario government invests in fintech to boost small-business lending

But financial technology isn’t all about banking on a smartphone. While challenger banks such as Starling carry the fintech torch to consumers, there is a huge opportunity in the vast nooks and crannies of the finance sector.

Helping fintech startups level up

Tech Nation is providing a guide rope to early-stage UK fintechs trying to find their footing. These small companies already have some customers and are generating revenues, but need to move to the next level.

With a background in the trading sector, fintech and venture capital, Greg Michel is heading up that support programme at Tech Nation.

He told Computer Weekly the latest programme was focused on fintech firms that supply other businesses, rather than those going direct to consumers like many of the better known fintech operators.

When choosing participants for the programme, it sought fintech startups that had already raised a bit of money, had some customers on board and were generating revenue. “They are viable propositions, not just two men and a dog in a garage or [bigger] with 30 people in their own office,” said Michel.

“They have a product, they have sold it so have some traction, and are making a bit of money. So they have something going for them, but they need to be accelerated.”

Learning the ropes

The 20 fintech startups taking part in the Tech Nation programme will receive coaching in how to scale a business. At the moment, the participating companies each have 15 staff, on average, with average revenues of £250,000.

Coaching in scaling involves teaching entrepreneurs how to build a more established business, which will include the likes of human resources management, incentivising salespeople and finding the right partners. This can be a significant challenge for startups, which often have a background in technology or another specific area of business.

See:  Canadian governments must double-down to foster tech boom here

Michel said the programme was “a vector of knowledge transfer” from those who have previously built unicorns and large companies to those who aspire to do the same.

“We hope the entrepreneurs will take lessons from this that would normally take years of experimentation,” he added.

Continue to the full article --> here


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
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World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding
Betakit | Jonathan Shaanan | Sep 24, 2018 Last year, we released the first edition of Ferst Capital Partners’ FinTech Map, plotting all FinTechs serving Canadians by vertical and growth stage. We received a lot of great feedback and were proud to see our work referenced by both investors and regulators. Today, we are releasing an updated version, along with some other telling charts on the overall state of FinTech in Canada. There is a lot of data packed into these charts (426 companies were analyzed), so we encourage you to grab a cup of coffee and take your time as you go through them. We have included several of our own takeaways below each diagram but, with plenty of ways to slice the data, you will undoubtedly develop many of your own. As a result of this exercise, we found two recurring themes worth highlighting. The first one is obvious to all of us tracking the space, while the second may be more subtle. If we want home-grown companies to lead the next wave of financial services in Canada, both regulators and investors will need to play their part. The more obvious theme is that the cryptocurrency and blockchain ...
Read More
The state of Canadian FinTech in four charts
Management Today UK | by Conrad Thompson | Sep 21, 2018 Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson. The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change. Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society. Co-create Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more ...
Read More
5 ways regulation can be a competitive advantage to British business
NCFA Canada | Sep 21, 2018 Ep10-Sep 21: A Regtech-based Blockchain KYC Solution for Document Custody About this episode: On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Brice Penaud, CEO, Commercial Passport Bio: Commercial Passport provides global digital KYC solutions, helping financial institutions reduce the time to on-board clients by automating beneficial ownership analysis and client document maintenance. Based in Toronto, Canada, Commercial Passport’s Universal KYC Solution is a paradigm shift in KYC collection, providing senders and receivers a clear chain of custody for KYC documents through blockchain technology. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody how are you doing today Manseeb Khan here . And you tuning in to Fintech Friday's today. I have. OK. I know I see this every episode. But I do have a really incredible guest today ...
Read More
FINTECH FRIDAY$ (EP.10-Sep 21):  A Regtech-based Blockchain KYC Solution for Document Custody with Brice Penaud, CEO Commercial Passport
The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
Read More
Coinsquare moves into ETF business with two new funds
FastCompany | By Lydia Dishman | Sep 20, 2018 When you have a technology that’s only 10 years old, women and underrepresented minorities have the chance to change this corner of the tech industry. Yael Rozencwajg recently had an experience that was unusual for a woman in tech. Speaking at a conference for executives in the blockchain and Internet of Things (IoT) space, Rozencwajg found herself explaining the digital ledger system that forms the basis of blockchain technology to about 200 people, most of whom were white, male CEOs. “There was a lot they didn’t know,” the founder of startup Blockchain Israel tells Fast Company. The difference was that the audience was respectful and deferential, despite the prevailing reality that when women are outnumbered in a work setting like this, several studies show that they are talked over, interrupted, or simply ignored. Rozencwajg chalks it up to the relative newness of the blockchain space. The technology is only 10 years old and was initially used to record bitcoin transactions. But its applications have since moved from solely recording bitcoin and other digital currency transfers to smart contracts and other transactions that need the security that an immutable record can provide ...
Read More
Meet the women who are making sure blockchain is inclusive
Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
Read More
Immersive 2-day Blockchain Developer Training Course (Nov 10-11, Toronto): Decentralized Application Development
Incipient Industries | Steven Dryall | Sep 19, 2018 Incipient Industries Releases Whitepaper Describing How Cryptocommodities  Are Created and Used As The Basis For A Stable Cryptocurrency Toronto, ON, Canada, September 17, 2018 - Incipient Industries Inc. announces the release of the definitive whitepaper on the subject of cryptocommodities. Following years of development combined with the dissemination of information related to cryptocurrency viability and asset- based cryptocurrencies, an actual description of how to deploy a cryptocommodity  is now available. This is a first in the burgeoning cryptocurrency industry and represents a significant step towards a stabilized digital economy. The cryptocurrency industry is still developing and discovering ways to integrate with traditional financial systems or to replace them altogether. The introduction of cryptocoomodities into the cryptosphere creates a new category of opportunities for pioneers in the space. For those seeking a solution to a stable cryptocurrency, this is the best path to success. See:  3 Clever Ways To Reach Crypto Price Stability, And One Giant Leap Of Faith “This is a perfect use case for cryptocurrency and also follows the Three Pillars of a Viable Cryptocurrency framework.” says Steven Dryall, CEO of Incipient Industries, who has pioneered several key concepts of ...
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Whitepaper Provides Information About Cryptocommodities As The Basis For A Stable Cryptocurrency
Bloomberg | Joshua Brustein | Sep 4, 2018 With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts. In 1971, an 11th grader named Greg Strebel wrote the introduction to a book about Ocean Falls, the tiny town in the British Columbian hinterlands where he lived. Strebel mentioned the odd fact that many of the town’s roads were made of wood, said the weather wasn’t as bad as some people made it out to be and noted that it had just gotten a new school building. But the one thing that mattered above all, according to Strebel, was the paper mill. “To most, 'the mill’ imparts a sense of security by its presence,” he wrote. “A low throb of power is audible throughout most of the town as long as the mill runs, accompanied by voluminous exhalations of steam.” The security provided by the mill turned out to be fleeting. It went silent when Strebel was in his 20s. Most of the buildings in Ocean Falls that haven’t been demolished over the decades are crumbling in place, and Strebel, along with most everyone who once lived there, is long gone. A ...
Read More
The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
Read More
$5 million Equity crowdfunding extended to private companies

 

Share

Indiegogo quietly canceled its first ICO after raising $5.2 million

Share

The Next Web - Hard Fork | Aug 24, 2018

Indiegogo’s first foray into the world of blockchain and cryptocurrency has gone awry – but the good thing is that it appears investors will at least get their money back.

In an email sent out in July, Indiegogo’s token brokerage partner, MicroVentures, informed investors they will not be receiving tokens – but refunds instead. From the looks of it, the reason for issuing refunds are recent changes in regulation.

Hard Fork has since obtained a copy of the message, which you can read below:

Thank you for participating in the FCFL pre-sale. If you have been following the crypto and ICO markets for the last 6 months you already know that the regulatory environment has been rapidly changing. The SEC has provided multiple comments regarding security and utility tokens, but has not provided formal guidance or a compliant framework on how to conduct these offerings.

During this time, your investment was not distributed to the company. This was done to ensure that MicroVentures navigated through the regulatory climate prior to finalizing the offering. While we believe the initial path taken was compliant, we have decided the best way to ensure compliance is to unwind the investment opportunity and return investor capital.

We are beginning the return process today.You may hear from someone on our team if we need to verify return instructions on how to return your investment capital to you.

See:  What’s the Difference Between a Regulated ICO and an STO?

Not to be mistaken with yesterday’s security token offering for the rich, Indiegogo announced plans to branch out into initial coin offerings (ICOs) in a statement last December. Given its success (and some failures) in the crowdraising sector, the expansion into token offerings seemed like a good fit.

The guinea pig was the Fan Controlled Football League (FCPL), an Indiegogo alum seeking to raise up to $5 million to build a community-run football league. In return, the company promised to distribute tokens to their investors. The token distribution was to be overseen by Indiegogo’s partner, MicroVentures.

The announcement gathered tons of attention from media outlets, securing coverage from Fortune, CNBC, CoinDesk, TechCrunch, and even The New York Times.

“We want to bring a brand of trust to the entire industry, which we think will bring [ICOs] to the mainstream,” Indiegogo co-founder Slava Rubin told The New York Times in 2017. “Now, we’re ready to become the go-to platform for selling and investing in digital tokens and blockchain-based assets, and we can’t wait for you to join us,” Indiegogo’s announcement added.

Indeed, FCFL boasted about exceeding its crowdfunding goals, raising the equivalent of $5.2 million “in Bitcoin, Ethereum, and classic fiat currency.” Unfortunately, the tokens were never distributed to investors. In fact, it appears MicroVentures did not even consult with FCFL prior to informing investors about the botched token sale.

According to FCFL CEO Sohrob Farudi, MicroVentures initiated the refunding process without FCFL’s approval. (We contacted MicroVentures for a clarification, but representatives were not available for comment as of time of publishing.)

“We would like to address the recent email that we understand some of you received from MicroVentures,” Farudi said in a July statement, referring to the refund message shared above. “We did not consent to that email being sent out. We have no way to communicate directly with the purchasers who participated in our presale [sic] on MicroVentures platform as MicroVentures has refused to give us any information about who the purchasers are in order for us to communicate with them.”

“If you were a purchaser in the MicroVentures platform offering, FCFL would be happy to hear from you directly,” Farudi added. “We want to ensure that MicroVentures is handling this unwinding that it initiated properly and treating any purchasers in the MicroVentures platform offering fairly.”

For the record, other than the St Regis Aspen Resort security token offering from yesterday, FCFL is Indiegogo’s first and only experience in the blockchain funding space. Speaking to The Verge in August, Rubin said the FCFL token sale “went well” – despite MicroVenture’s intention to issue refunds.

See:  Too big to flop: Inside Indiegogo’s plan to circumvent crowdfunding failures

Asked about what went wrong with the FCFL ICO, Rubin told Hard Fork “the [MicroVentures] email issued to investors provides all the context for the refund.”

“For clarification, Indiegogo partnered with MicroVentures in 2016, an SEC-registered [broker-dealer], to help market and amplify offerings on their platform to our global audience,” he further clarified in an email to Hard Fork. “Indiegogo itself is not a registered broker-dealer, and in the case of FCFL, or any other investment offering, does not participate in investment related activities.”

Continue to the full article --> here


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
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European Parliament Draft Legislation Shows Intent to Enable Crowdfunding Platforms to Host Initial Coin Offerings

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Crowdfund Insider | | Sep 5, 2018

A recent draft of legislation by the European Parliament pertaining to European Crowdfunding Service Providers (ECSP) indicates an interest in rolling in initial coin offerings (ICOs) along with more traditional securities. While still just a draft, the document shows a clear interest in empowering online investment platforms to list ICOs with a proposed amendment stating;

“In order to allow for a competitive Union framework, crowdfunding service providers should be permitted to raise capital through their platforms using certain cryptocurrencies. Initial Coin Offerings (ICOs) offer new and innovative ways of funding but can also generate substantial market fraud and cyber security risks to investors. Therefore, crowdfunding service providers that wish to offer an ICO through their platform, should comply with specific additional requirements under this Regulation.”

The proposed regulation is viewed as an opportunity to regulate ICOs. The EP draft states that issuers can prove their legitimacy by complying with the proposed regulations. While accepting the fact the proposed rules may fall short, the draft calls it a “much needed step towards imposing standards and protections in place for what is an excellent funding stream for startups.”

See:  Gibraltar: Where Is The Best Country To Launch An ICO – Switzerland Or Gibraltar?

On Tuesday this week, Members of European Parliament (MEPs) held a meeting to discuss ICOs as part of a subset of crowdfunding. According to Hogan Lovells, a law firm that is assisting in the draft legislation, the proposal is a “step in the right direction” that should legitimize and clarify rules for ICOs. The draft legislation was entered by UK MEP Ashley Fox. In discussing ICOs, at least one MEP sees merit in creating a third category beyond securities and commodities (find new definitions).

John Salmon, Hogan Lovells Technology Partner, stated;

“Having the certainty, but also having that legitimisation, I very much welcome having a European-wide proposal. I think it would be incredibly helpful to see that: it gives people the certainty to know … but we need to be clear whether this is a utility token or a transferable security, or how the regulatory regime comes within that. But I think it makes perfect sense because an ICO is another form of crowdfunding. It is different, but it is a form of crowdfunding.”

Continue to the full article --> here


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
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Read More
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The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
Read More
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Read More
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Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
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Read More
The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
Read More
$5 million Equity crowdfunding extended to private companies

 

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Technology is the ‘most profound force bearing down’ on big banks, ex-Barclays boss says

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HITC | Sep 3, 2018

Technology is going to fundamentally transform the banking industry over the coming years, a former Barclays CEO told CNBC on Monday.

Technology is going to fundamentally transform the banking industry over the coming years, a former Barclays CEO told CNBC on Monday.

Antony Jenkins, who led the British bank through a tumultuous period between 2012 and 2015, said regulatory measures imposed in the aftermath of the 2008 financial crisis had made the global financial system safer.

But, ultimately, technology has the potential to make finance better for the customer, society and even banks themselves, he added.

"If you look at how the banks are capitalized today, the amount of liquidity they have inside them, they are way stronger today than they were before the crisis and that, of course, is a good thing," Jenkins said.  "Some would argue there is still some way to go in that regard but actually the most profound force bearing down on the industry now is technology."

Since the crisis, banks globally have paid a heavy financial price, while the industry's reputation has plummeted.. Lenders have paid out more than $320 billion in fines over the last decade, Reuters reported, as regulators probed them for mis-selling securities and rigging interest rate and foreign exchange benchmarks.

Next week will mark the tenth anniversary of the collapse of the investment bank Lehman Brothers, as a bubble in the U.S. sub-prime mortgage market burst.

See: 

'All banks do is just data'

"Financial businesses are data-based businesses, they are just data… and, of course, with technology now you can automate that and when you automate it, you can get a lot of efficiency and effectiveness," Jenkins said.

He added that "all banks do is just data" and so anything that makes handling data more effective can create a transformation. Jenkins singled out developments in artificial intelligence (AI) and distributed ledger technologies as pivotal in driving this change.

He also referenced the impact of technological advancements in the insurance industry.

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The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Crowdfund Insider | JD Alois | Sep 18, 2018 In many ways, OurCrowd epitomizes the aspirations of what investment crowdfunding has the potential to deliver for both issuers and investors. By providing access to quality deals to smaller (accredited) investors, OurCrowd has opened up an asset class previously closed off to all but the very fortunate. On OurCrowd, you can find yourself investing alongside some of the biggest names in venture capital – at the exact same terms – an important distinction. It is also important to note that OurCrowd has skin in the game for each offering it lists on the platform – thus interests are aligned: OurCrowd wants the company to succeed and it also very much wants to see a return on its own investment. These qualities make OurCrowd a compelling option for investors that are willing to shoulder an element of portfolio risk that can also drive some outsized returns. OurCrowd is based in Israel – where many of its investments are made – but its vision is to empower investors globally and fund companies regardless of geographic borders. This is what you want to see in the digitized, internet fueled Fintech age. CI recently caught ...
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World’s Largest: OurCrowd Still on Track to Top USD $1 Billion in Investment Crowdfunding
Betakit | Jonathan Shaanan | Sep 24, 2018 Last year, we released the first edition of Ferst Capital Partners’ FinTech Map, plotting all FinTechs serving Canadians by vertical and growth stage. We received a lot of great feedback and were proud to see our work referenced by both investors and regulators. Today, we are releasing an updated version, along with some other telling charts on the overall state of FinTech in Canada. There is a lot of data packed into these charts (426 companies were analyzed), so we encourage you to grab a cup of coffee and take your time as you go through them. We have included several of our own takeaways below each diagram but, with plenty of ways to slice the data, you will undoubtedly develop many of your own. As a result of this exercise, we found two recurring themes worth highlighting. The first one is obvious to all of us tracking the space, while the second may be more subtle. If we want home-grown companies to lead the next wave of financial services in Canada, both regulators and investors will need to play their part. The more obvious theme is that the cryptocurrency and blockchain ...
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The state of Canadian FinTech in four charts
Management Today UK | by Conrad Thompson | Sep 21, 2018 Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson. The UK has a well-established and well-respected system of regulation, which the majority (83%) of the public see as good for society and for business. But without action, this won’t last long. Brexit is looming on the horizon, with huge implications for our regulatory framework. Firms in all industries need to focus on innovation to keep up with, let alone stay ahead of, new customer behaviours and the increasing pace of technological change. Regulators will have a growing role, particularly in a post-Brexit world, to remove the barriers to innovation, for example by minimising the hoops organisations need to jump through to release new products or services. There is an opportunity here for the UK’s regulators to be a source of competitive advantage for British businesses, but they will need to understand how they can do this whilst still delivering on - and keeping within - their statutory duty to protect society. Co-create Regulators must play an active role in promoting innovation. This starts with regulators and regulated companies working more ...
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5 ways regulation can be a competitive advantage to British business
NCFA Canada | Sep 21, 2018 Ep10-Sep 21: A Regtech-based Blockchain KYC Solution for Document Custody About this episode: On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Brice Penaud, CEO, Commercial Passport Bio: Commercial Passport provides global digital KYC solutions, helping financial institutions reduce the time to on-board clients by automating beneficial ownership analysis and client document maintenance. Based in Toronto, Canada, Commercial Passport’s Universal KYC Solution is a paradigm shift in KYC collection, providing senders and receivers a clear chain of custody for KYC documents through blockchain technology. Subscribe and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody how are you doing today Manseeb Khan here . And you tuning in to Fintech Friday's today. I have. OK. I know I see this every episode. But I do have a really incredible guest today ...
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FINTECH FRIDAY$ (EP.10-Sep 21):  A Regtech-based Blockchain KYC Solution for Document Custody with Brice Penaud, CEO Commercial Passport
The Globe and Mail | Clare O’Hara | Sep 20, 2018 Cryptocurrency trading platform Coinsquare is moving into the exchange-traded fund business as its investment management division launches two new technology funds. Coin Capital Investment Management Inc., a portfolio management subsidiary established in July, has become the 30th ETF provider in Canada with the launch of two new ETFs focused on global emerging technologies. With a management fee of 0.64 per cent, the Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and the Coincapital STOXX B.R.AI.N. Index Fund (THNK) began trading Thursday morning on the Toronto Stock Exchange. “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise,” said Coin Capital CEO Lewis Bateman. Blockchain is an online digital ledger. Once a transaction is completed, it goes into a blockchain database and is kept as a permanent, secure record. It is most commonly known as the technology behind the booming cryptocurrency bitcoin, which soared above US$18,000 last December. See:  Coinsquare launches Coin Capital Investment Management Inc. to help Canadians invest in emerging technology LDGR will aim ...
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Coinsquare moves into ETF business with two new funds
FastCompany | By Lydia Dishman | Sep 20, 2018 When you have a technology that’s only 10 years old, women and underrepresented minorities have the chance to change this corner of the tech industry. Yael Rozencwajg recently had an experience that was unusual for a woman in tech. Speaking at a conference for executives in the blockchain and Internet of Things (IoT) space, Rozencwajg found herself explaining the digital ledger system that forms the basis of blockchain technology to about 200 people, most of whom were white, male CEOs. “There was a lot they didn’t know,” the founder of startup Blockchain Israel tells Fast Company. The difference was that the audience was respectful and deferential, despite the prevailing reality that when women are outnumbered in a work setting like this, several studies show that they are talked over, interrupted, or simply ignored. Rozencwajg chalks it up to the relative newness of the blockchain space. The technology is only 10 years old and was initially used to record bitcoin transactions. But its applications have since moved from solely recording bitcoin and other digital currency transfers to smart contracts and other transactions that need the security that an immutable record can provide ...
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Meet the women who are making sure blockchain is inclusive
Blockchain is here – so what next? The Blockchain Developer Opportunity If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities. According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with ...
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Immersive 2-day Blockchain Developer Training Course (Nov 10-11, Toronto): Decentralized Application Development
Incipient Industries | Steven Dryall | Sep 19, 2018 Incipient Industries Releases Whitepaper Describing How Cryptocommodities  Are Created and Used As The Basis For A Stable Cryptocurrency Toronto, ON, Canada, September 17, 2018 - Incipient Industries Inc. announces the release of the definitive whitepaper on the subject of cryptocommodities. Following years of development combined with the dissemination of information related to cryptocurrency viability and asset- based cryptocurrencies, an actual description of how to deploy a cryptocommodity  is now available. This is a first in the burgeoning cryptocurrency industry and represents a significant step towards a stabilized digital economy. The cryptocurrency industry is still developing and discovering ways to integrate with traditional financial systems or to replace them altogether. The introduction of cryptocoomodities into the cryptosphere creates a new category of opportunities for pioneers in the space. For those seeking a solution to a stable cryptocurrency, this is the best path to success. See:  3 Clever Ways To Reach Crypto Price Stability, And One Giant Leap Of Faith “This is a perfect use case for cryptocurrency and also follows the Three Pillars of a Viable Cryptocurrency framework.” says Steven Dryall, CEO of Incipient Industries, who has pioneered several key concepts of ...
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Whitepaper Provides Information About Cryptocommodities As The Basis For A Stable Cryptocurrency
Bloomberg | Joshua Brustein | Sep 4, 2018 With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts. In 1971, an 11th grader named Greg Strebel wrote the introduction to a book about Ocean Falls, the tiny town in the British Columbian hinterlands where he lived. Strebel mentioned the odd fact that many of the town’s roads were made of wood, said the weather wasn’t as bad as some people made it out to be and noted that it had just gotten a new school building. But the one thing that mattered above all, according to Strebel, was the paper mill. “To most, 'the mill’ imparts a sense of security by its presence,” he wrote. “A low throb of power is audible throughout most of the town as long as the mill runs, accompanied by voluminous exhalations of steam.” The security provided by the mill turned out to be fleeting. It went silent when Strebel was in his 20s. Most of the buildings in Ocean Falls that haven’t been demolished over the decades are crumbling in place, and Strebel, along with most everyone who once lived there, is long gone. A ...
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The Bitcoin Boom Reaches a Canadian Ghost Town
Australian Financial Review | Michael Bailey | Sep 12, 2018 Businesses wishing to raise money from retail investors will no longer have to convert to an unlisted public company structure, after an amendment to 2017's equity crowdfunding legislation passed federal Parliament. The legislation, which takes effect in 28 days from Wednesday, allows proprietary companies or unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on ASIC-licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas. Australian private companies are typically limited to a maximum of 50 non-employee shareholders. However, under these reforms, investors acquiring shares through a crowdfunding portal are excluded from this cap, allowing private companies to raise funds from potentially hundreds or thousands of investors. See:  Australia and UK set up FinTech Bridge to deepen collaboration between governments, regulators, and industry bodies Proprietary companies with crowdfunded shareholders will have to prepare annual financial and directors' reports in accordance with accounting standards. Only large proprietary companies, defined as those with any two of either $25 million turnover or above, $12.5 million of gross ...
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$5 million Equity crowdfunding extended to private companies

 

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