Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Fintech Opinions
Task Force on Financial Stability: Report release
Brookings Institution and the Initiative on Global Markets at the Chicago Booth School of Business | Jun 29, 2021
For the past year and a half, the Task Force on Financial Stability has been identifying gaps in the financial regulatory architecture and other features of the financial system that make it insufficiently resilient to adverse developments. Co-sponsored by the Hutchins Center at Brookings and the Initiative on Global Markets at the Chicago Booth School of Business, the task force recommends ways to assure that the financial system can support economic growth even after the economy and financial system have been hit with a bad shock.
See: Cyber Risk is the New Threat to Financial Stability
The report focuses on vulnerabilities outside the regulated banking system—the U.S. Treasury market, clearinghouses, open-end mutual funds, and other markets and non-bank financial institutions—because the capital footings and regulation of banks were substantially strengthened after the global financial crisis. It also recommends ways to strengthen the regulatory structure and process.
At this report release event on June 29, the task force co-chairs, Glenn Hubbard and Don Kohn, summarized the task force’s findings and recommendations. Following their presentation, a panel that includes task force members and academic experts on finance discussed the recommendations and underlying financial stability issues.
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Download the 135 page PDF report --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Financial Health Network Report: Financial Data – The Consumer Perspective
Financial Health Network | Jun 24, 2021
While technology-driven financial products, services, and institutions have the potential to benefit consumers, they can also pose new risks due to the increased availability of financial data. To better understand the consumer perspective on the use of financial data, the Financial Health Network fielded a nationally representative survey.
See: EY Global FinTech Adoption Index finds over half (64%) of global consumers use FinTech
The findings in this report describe consumer understanding of practices in the financial data ecosystem, and consumer preferences on how they would like personal data to be treated. These findings can serve as a guide to both industry stakeholders and policymakers as they seek to build trust and ensure that both practice and policy serve consumers.
Data Portability:
62% of consumers think their bank should be required to share data about them if they direct it to.
Data Privacy:
Approximately 90% of consumers favor an opt-in standard for banks, tech companies, and fintech apps to share data about them.
Data Minimization:
87% of consumers favor data minimization, but only 41% think it is taking place in the market today.
Consumers’ views on data portability, data minimization, and opt-in standards do not vary with political party affiliation.
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Download the 23 page PDF report --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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10 Highlights From Goldman Sachs’ June 2021 Digital Asset Thought Piece
Lou Kerner on Medium | Jun 20, 2021
In its June cryptocurrency report entitled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” Goldman Sachs’ Investment Strategy Group opined for 60 pages on the cryptocurrency ecosystem with the purpose of providing “ … an objective and balanced view on the role of cryptocurrencies in a portfolio.”
While the authors of the Goldman Sachs report believe that “It is likely that blockchain technology will be as high impact in the future as the internet has been over the past several decades,” they see a much more uncertain future for cryptocurrencies and how it will be used by their clients.
For all the disappointment, I applaud the effort, and assume they’ll get it right over time. So I suggest serious crypto investors read the entire report. But recognizing that most people won’t read it, here are the 10 points made in the report that I found most telling:
1. Goldman Report Highlights A Wide Spectrum Of Thoughts On The Crypto Ecosystem
At one end of the spectrum are proponents whose basic premise is that the U.S. government is on an inexorable march to currency debasement. Hence, the the world needs trusted alternatives like Bitcoin.
See: Goldman Sachs Reconsiders Whether Bitcoin is Legitimate Asset
At the other end of the spectrum are naysayers who dismiss cryptocurrencies as having no tangible value as discerned via traditional valuation methods.
Unfortunately, Goldman Sachs is very much in the latter camp, and the report’s authors state that proponents ignore that “ … the reserve currency status of the US dollar is arrived at by world consensus and backed by a $21 trillion economy.”
3. Goldman: ‘Of the three roles that Bitcoin was purported to play in the real world, we believe that none has materialized,’ including store of value
Goldman’s report noted that the original objective of Bitcoin was a peer-to-peer payment system (i.e. a currency). However, the digital currency is too slow, and its throughput is too limited, to serve that purpose. Goldman also stated that Bitcoin is too volatile to be a medium of exchange. Its volatility also precludes the cryptocurrency from being a unit of measurement for pricing goods like crude oil.
See: ‘Last year we saw about a 300% increase in transactions just using cryptocurrency’: Coinpayments CEO
Most notably, the authors of the report don’t believe that Bitcoin’s a long-term store of value or an investable asset class for diversified portfolios. Interestingly enough, Goldman Sachs has stated before that it doesn’t believe gold to be an investable asset class either. So claiming that Bitcoin is “digital gold” doesn’t confer any value to the digital currency.
3. Goldman On The Bitcoin Blockchain: ‘Its greatest success has been in inspiring the development of blockchains with faster transaction speeds and far greater functionality’
Goldman highlighted Ethereum’s enablement of decentralized applications (DApps) on its blockchain, built to use smart contracts, which allow computer programs to be executed on the blockchain. Goldman highlighted these six blockchains but Goldman gave no insight as to why these six blockchains were highlighted, while others, like Cardano, Hedera, Stellar, Casper, and Avalanche, were not. The first section of the report (Understanding the Digital Assets Ecosystem: Bitcoin, Blockchains and Web 3.0) finishes with “Use Cases of Blockchain Technology,” with only a brief discussion of DeFi.
4. Goldman: “We do not believe that cryptocurrencies are a strategic asset class that adds value to our clients’ portfolios”
The Goldman Sachs report describes Bitcoin as “the oldest and has the largest market capitalization among cryptocurrencies.” Bitcoin was not the first cryptocurrency, as various parties worked on cryptocurrencies before the first units of bitcoin were mined in 2009. The second claim made in the report, that bitcoin is the largest cryptocurrency by market value, was true at the time of this report, according to CoinDesk data.
See: BuyProperly Raises $2M to Bring Accessible Real Estate Investing to Canada and the US
Due to bitcoin’s prominence in the word of digital currencies, Goldman focused on this particular digital asset to present the analysis that crypto is not an investable asset, as it does not meet at least 3 of the 5 criteria:
- Generate steady, reliable cash flow on a contractual basis, like bonds
- Generate earnings through exposure to economic growth, like equities
- Provide consistent and reliable diversification benefits to a portfolio
- Dampen volatility
- Provide consistent and reliable evidence of hedging inflation or deflation as a store of value
According to Goldman’s “robust optimization model,” given it’s volatility, risk premium, and Sharpe ratio, Bitcoin would need to return 165% per annum to strategically allocate 1% of a moderate-risk portfolio to Bitcoin. Since January 2014, Bitcoin has provided an annualized return of 69%, far from the levels Goldman would need to justify an allocation.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Is Tether a Black Swan?
Bernhard Mueller via Medium | Jun 18, 2021
Tether’s USDT stable coin has experienced massive growth since the start of the ongoing bull cycle. There’s now an order of magnitude more USDT in circulation than during the height of the 2017–2018 cycle. This makes it worth re-investigating whether the crypto markets are robust against a potential Tether-related liquidity shock.
In this article I attempt to address the following questions:
- How would a loss of confidence in Tether play out in the short term?
- Who would get most rekt if a Tether-related crash happens?
- Would a Tether confidence crisis be a black swan event* that would severely impact the market?
* For the purpose of this article, we use “black swan” to refer to a massive event that would surprise most people. After all, 95% of people in the crypto space insist that Tether is fine. If you’re unhappy with that definition feel free to think of it as a white swan event.
“What may be a black swan surprise for a turkey is not a black swan surprise to its butcher.”— Nassim Nicholas Taleb
See: A Visual Explanation of Algorithmic Stablecoins
The shape of US dollar liquidity in the crypto markets
In 2018, Hasu found that USDT made up for 29% of Bitcoin’s liquidity. Since then, the situation has become a lot more complicated. Not only is there 12x as much Tether in circulation. USDT base pairs also dominate spot markets on centralized exchanges (CEX) where they account for roughly 65% of trading volume. Furthermore, the complexity of the market has increased significantly due to the proliferation of crypto-related TradFi products, DeFi protocols and USDT-collateralized derivatives. That said, this analysis focuses on CEX and DeFi markets which would get directly impacted by a Tether shock.
The stable coin landscape
As of June 17th, 2021, USD stable coins have an aggregate market cap of $106.2 billion and USDT has a 61% share of that pie.
Now, where’s all that USDT located? CryptoQuant tracks $7.25B USDT in exchange USDT reserves. However, this doesn’t count USDT on the Tron blockchain which accounts for half of the USDT supply. According to Tether’s rich list, 17 billion Tron USDT are held by Binance alone. The list also shows 2.68B USDT in Huobi’s exchange wallets. That’s almost 20B USDT held by two exchanges. Considering those numbers, the value given by CryptoQuant appears understated. A more realistic estimate is that ~70% of the Tether supply (43.7B USDT) is located on centralized exchanges.
See: A Brilliant Fintech Future – Banking on Stablecoins
Interestingly, only a small fraction of those USDT shows up in spot order books. One likely reason is that a large share is sitting on wallets to collateralize derivative positions, in particular perpetual futures. The CEX futures market is essentially a casino where traders bet on crypto prices with insane amounts of leverage. And it’s a massive market: Futures trading on Binance alone generated $60 billion in volume over the last 24 hours. It’s important to understand that USDT perpetual futures implementations are 100% USDT-based, including collateralization, funding and settlement. Prices are tied to crypto asset prices via clever incentives, but in reality, USDT is the only asset that ever changes hands between traders. This use-case generates significant demand for USDT .
With regards to DeFi, 2.19% of the USDT supply is locked in smart contracts according to Glassnode. Again, the real number is likely higher since Glassnode can’t possibly track all DeFi protocols across all blockchains. We’ll assume a value of ~5% which seems to be compatible with the numbers shown by major Ethereum DeFi protocols: Cumulative USDT liquidity on Aave, Compound and Uniswap is $1.73B.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Who Are Business Influencers and Why Is It Important to Listen to Their Opinion?
Guest Post | Jun 11, 2021
Who Are Business Influencers and Why Is It Important to Listen to Their Opinion?
A current online culture defines special persons who are defined as influencers. They exist in every field, starting from fashion. academized paper reviewing, and dieting, and ending with gaming or business. However, despite there being many branches that allow the audience to rely on the influencer’s opinion fully, things change a lot when it comes to money-making and business development.
Should you trust the information given by a business influencer online? Read this article further to find out more.
Who Is an Influencer?
Before we proceed, it can be good for many to understand the meaning of the word influencer deeper. One supposes the roots of that word origin from the common word – influence. It’s a synonym of impact or effect.
Consequently, an influencer is a person that has an influence on their audience in a particular field. The number of subscribers is not the main point here. An influencer can have 10 million subs or just 1 thousand of them. The matter is the audience’s quality and level of trust that every subscriber has in the influencer. The key is the ability of an influencer to motivate the audience to do something.
Influencers can be divided into categories. The most common categories are mentioned below.
Bloggers
Bloggers have content blogs they update regularly. The reason can be different: entertainment, education, sharing info with friends, business, etc. Additionally, a blog can be an influencer’s main income source.
Vloggers & Viners
Video bloggers (aka vloggers) are opinion leaders actively present on YouTube and similar services who have communities of subscribers passively or actively involved in their activity. Modern brands use vloggers to create and spread video content of various types: informational, educational, advertising, etc.
See: NCFA Successfully Concludes Canada’s Leading Fintech and Financing Conference FFCON21: Breaking Barriers
Viners can be defined as a separate subcategory of vloggers. The feature of a viner is the creation of vines – short (2 to 25 seconds) and funny videos touching relevant life situations or jokes.
Ambassadors
Ambassadors are people invited to cooperate with companies aiming to present brands well. As a result, the brand becomes more recognizable, and businesses increase sales.
Creators
A content creator is, obviously, a person creating photo and video content. He or she may not have thousands or millions of subscribers on their media channels, but brands use their content after purchasing it from creators. So to say, creators are indirect opinion leaders.
Business Influencers Defined
To sum up the first part of the article, a business influencer is mainly a blogger or vlogger who has their audience of subscribers big enough to make them weigh something in the world of business development, finance, investment, etc. Such a person is the opinion leader able to affect the way of thinking, behavior, and lifestyle of others through the use of their content published through certain media channels.
Why Listen to Them
It’s natural for people to be extremely careful when it comes to getting incomes, planning businesses, and anything else connected to earning or counting money. No wonder any present or future business owner tends to doubt all the information they receive, no matter what the source is. However, business influencers are mostly worth your trust and attention. Here are three reasons explaining why it is wise to consider their opinions respectfully.
Experience and Knowledge Backed with Achievements
Most probably, a business influencer built their personal brand and audience not accidentally. That means a lot of people treat their words seriously. Additionally, all today’s business influencers have immense experience, solid achievements, and, of course, a huge net worth behind their back.
See: Future Market Dynamics Part 3 – data sharing, trust and a world of choice
The knowledge they decide to share is not the complete revelation in most cases. However, facts and opinions a business influencer brings to their audience through blog articles, podcasts, or videos can be valuable. Otherwise, they wouldn’t be able to get enough audience and authority to become influencers.
Insider Information that Sometimes Goes Public
Modern opinion leaders sometimes come up with extremely valuable pieces of information and experience that are a part of insider data or a truly unique explanation to some business process, finance accounting aspect, tip, or trick. If that worked for an influencer, it would probably be effective for you, your concepts, startups, and companies.
Reputation & Trustworthiness Supported Regularly
The feature of contemporary Internet fame and authority is all about its drastic, dynamic change. A single mistake, deception, or accidental inconvenience happening with the blogger or vlogger may become the reason for their audience to refuse to trust them right away. It’s hard to build a personal brand and gain popularity, but it’s extremely easy to lose them all forever when you are an online influencer.
Additionally, opinion leaders need to support the interest of their subscribers regularly. So, their blogs or YouTube channels can serve as knowledge bases refreshing all the time.
To Conclude
Nobody says you need to take all the business influencers for granted. In business development, you are your best ally and worst critic. Though, paying attention to what successful and trusted business influencers bring online is a solid way to gain valuable knowledge, experience, and raw information to consider.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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The Importance of Education in the Modern World
Guest Post | Jun 8, 2021
It’s a frequent situation for contemporary graduates and adults to underestimate the vital meaning of education for them. It is trendy to think that one’s experience, creativity, ability to adjust to different situations and to communicate correctly give you much more chances to build a successful career than a diploma from a good college or university. That concept seems to be supported by multiple motivational gurus and examples of business influencers and truly rich people available online.
Let’s make it clear at once: those successful persons who quit colleges and still became insanely successful are rather exceptions that confirm rules. To fire the idea and hit the jackpot, you need to not only be extremely hard-working and read advanced writers reviews to find a paper service that would give you more time for your startup. Besides all that, you need to be lucky while obtaining a genuine concept.
A college or university diploma does not guarantee your career and life to be successful. That’s true. But the process of getting that diploma along with the fact of obtaining it after will surely increase your chances to become independent and able to live comfortably. Here below, you will find seven benefits that prove the importance of education.
Broader Outlook
While studying at schools, colleges, and universities, people learn how to understand the world around, and to find connections between different things, subjects, and disciplines. It’s not an accident that every student goes through a general learning programme along with the subjects special for their chosen field.
Consequently, you broaden your sightseeing step by step while going through every stage of education. In fact, you never know what knowledge will come in handy at a particular moment in your life. So, it is always better to have more knowledge than less of it in your head.
Brain Training
When speaking of educational processes after you graduate from middle school, nobody would argue that the progress of every student is based on their self-learning skills. Professors in high schools, colleges, and universities usually don’t digest the information about their subjects to feed students with the precooked knowledge meals. Instead, a good teacher shows valuable sources and, what’s more important, lets the student find out how to find the information on their own.
Then, the development of critical thinking and the ability to process big info volumes within the shortest time comes along. Creativity, critical approach, and the incoming data filtering capabilities are not individual talents that some people have while others don’t. Those are skills one can and must develop to become more competent and competitive in the modern world of rapid changes. Your brain can be treated as a muscle, and education is the way to train it correctly.
New Doors Open
No matter what people around you think or say, modern businesses still prefer recruiting well-educated candidates who can provide higher education diplomas as proof. The fact of college graduation alone gives you reasonable advantages when you start looking for your first full-time job. Think about it: a candidate with no experience but obtaining a degree looks better for a potential employer than the one with no experience and no diploma.
See: Fintech Fridays EP40: Why Bitcoin Exists and Education for the Masses
Things change even more when the school you graduate from is a respected and reputable establishment in your country or the world. Such a high-level education is the key to open many doors for your career and life that would stay locked otherwise. It would be a shortsighted decision not even to try getting that advantage.
Residence Possibilities
This is the aspect that many school graduates don’t know about or simply ignore. When you consider going abroad for studying purposes, the majority of contemporary governments surely want to motivate a qualified graduate to stay in their country. The fact that you obtain a diploma from their college or university is a factor making your residence and citizenship obtaining possibilities better than those of other people. Try not to forget to use that privilege if you want to continue developing your career and experience abroad.
Networking
A network of contacts is a critical component of careers for contemporary specialists. Of course, you can invest a lot of time and effort to build your effective network without graduating from a higher educational establishment. However, it is always easier and more exciting to start building it earlier in the environment naturally designed to create communities with common interests, don’t you think?
Practical Experience
The uprising popularity and increasing effectiveness of online education gave a second breath to those thinking that schools only waste your time and money. They say knowledge is available for free in 2021, so you can learn anything on your own if you put in enough effort.
See: Answered: 5 questions about forging a career in fintech
Still, there are fields that are impossible to study well without a lot of practice under the guidance of experienced experts. For example, medicine. Nobody says you have no chance to learn something well on a self-education basis, but colleges and universities are still able to offer a better quality of knowledge and practice on average.
Finding Your Own Way
The last but not least important point to mention here is that education is like basic training in a particular field. A student has more than enough time to understand whether they like their future profession or they’d prefer going in for something different. Educational establishments offer possibilities to get advanced knowledge and experience that can help you choose the life path that wouldn’t make you disappointed in the future.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Economist Spotlight: Imagining a world without banks
The Economist | May 6, 2021
IT IS HARD to conceive of a world without banks, partly because they are so visible. Picture the horizon of any big city, and the skyscrapers in view are usually banks. Commuters emerge from Grand Central station in New York in the shadow of the Park Avenue base of JPMorgan Chase. Morgan Stanley looms over Times Square; Bank of America over Bryant Park. In London the skyline is dominated by odd-shaped towers in the City and Canary Wharf. In Singapore the top floors of the offices of Standard Chartered and UOB house rooftop bars looking out over the entire city. Even in places like Auckland, Mexico City or Jakarta, the logos adorning the tallest buildings are those of ANZ, BBVA or HSBC.
See: A Brilliant Fintech Future – Banking on Stablecoins
The physical dominance of banks symbolises their importance. Most people interact with their banks for such mundane transactions as buying groceries. Companies pay their workers, suppliers and landlords through banks. Banks are also there for bigger decisions, such as buying a house or getting a student loan.
And yet a world without banks is also visible on the horizon. As never before, their role is under threat from new technology, capital markets and even the public sector.
Central bankers have seen tech giants develop quicker and easier payments systems that could pull transactions out of the banking system. They worry that digital payments may bring about the end of cash. Financial regulation and monetary policy have traditionally operated through banks. If this mechanism is lost, they may have to create digital central-bank money instead.
Because technology has disrupted so many industries, its impact on banking may seem like one more example of a stodgy, uncompetitive business made obsolete by slick tech firms. But money and banking aren’t like taxis or newspapers. They make up the interface between the state and the economy. “The deep architecture of the money-credit system, better known as banking, hasn’t changed since the 18th century, when Francis Baring began writing about the lender-of-last-resort,” says Sir Paul Tucker, formerly deputy governor of the Bank of England and now at Harvard. “Which means it has not, so far, depended on technology at all, because Francis Baring was writing about it with a quill pen.”
See: Advancing a more resilient and proportional banking regulatory framework in Canada
Now a new architecture is emerging that promises a reckoning. “Economic action cannot, at least in capitalist society, be explained without taking account of money, and practically all economic propositions are relative to the modus operandi of a given monetary system,” wrote Joseph Schumpeter in 1939. Yet it is possible to see a future in which banks play a smaller role, or even none at all, with digital money and deposits provided by central banks, financial transactions carried out by tech firms and capital markets providing credit.
Bad change or good?
The question is whether such a world is desirable. Banks have many flaws. Scores of the unbanked are too poor to afford them. They can be slow and expensive. They often make more money from trading and fees, not normal banking. Negligent banks can create boom-and-bust cycles that inflict economic hardship. So it is easy to assume that the sidelining of banks might be just another shackle broken by technological advance.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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