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FINTECH FRIDAY$ (EP.12-Oct 5): Building Blockchain Products & Decentralized Solutions for Enterprise and Startups with Mathieu Glaude, President and CEO of Northern Block

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NCFA Canada | Oct 5, 2018

Ep12-Oct 5:  Building Blockchain Products & Decentralized Solutions for Enterprise and Startups

About this episode:   On this week's episode of the Fintech Friday$ podcast our host Manseeb Khan sits down with Mathieu Glaude the CEO and president of Northern Block. They talk about having a sovereign digital identity, the excitement behind stable coins and why supply chain in blockchain shouldn't be overlooked. Enjoy!

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest:  MATHIEU GLAUDE, President and CEO, Northern Block (LinkedIn)

Bio:  Mr. Glaude is the President and CEO of Northern Block, a Toronto-based blockchain product development company building decentralized applications, enterprise solutions and developer tools for blockchain ecosystems.  Mr. Glaude brings extensive expertise to product development in the enterprise technology space. Prior to Northern Block, he worked for Capital One Bank where he led many large scale customer-facing software development initiatives.  Additionally, he owns a private equity fund focused on making early stage investments in the blockchain and emerging technology sectors.

 

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Transcription of Interview

Manseeb Khan: Hey this is Manseeb Khan and you are tuning into a brand-new episode of fintech Fridays.

Manseeb Khan: Today I have an amazing guest today. I got Matt Glaude from Northern Block. Matt thank you so much for sitting down me today. I know like every entrepreneur your days slammed packed. So, thank you for taking time out of your super hectic schedule to make it.

Mathieu Glaude: My pleasure. Thanks for having me.

Manseeb Khan: Absolutely. So, Matt could you just for the audience give us a little bit of who you are and a little bit of who and what Northern Block is?

Mathieu Glaude: Sure. So, my name is Mathieu Glaude. I'm a CEO, president of Northern Block, Northern Block is Toronto based Blockchain product development shop focused on building enterprise Blockchain solutions. So, we've been around for just over a year now. We're still a small team just under 25 employees but we're dabbling in all sorts of areas, so we're doing a bunch of interesting projects in the supply chain space and the identity space building tools and developer tools for writing smart contracts and doing a lot of cool stuff in the space working with many different clients in the business verticals.

Manseeb Khan: you have worked with some of the past bigger enterprises and now you guys are moving to smaller enterprises. Could you talk a little bit more of the challenges, trials, and tribulations you have had experience implementing blockchain technology into a bigger enterprise.

Mathieu Glaude: Yes sure. So just a bit of a background on when we first started Northern Blocks so my co-founder Sasha and myself have experience working both startups and larger enterprises. But prior to northern block we were both Capital One Bank building digital products for them. So, I personally was a product manager working on a bunch of different products. For example, the online banking space and payment infrastructure, some Agent desktop servicing and my co-founder Sasha was Agile coach grand master and we were partners the other they're executing on a lot of cool projects. so, when we first started getting into block chain technologies when we were still working on capital when we were looking in the enterprise space because that's where we were at the time that's what we were trying to investigate just specifically for the firm. We were out at the time if there was any applicability of these technologies so when we first started getting into it we were taking the lens of how you make this work within a larger enterprise right. So, once we finally decided that we saw enough of the market to go out there and there was room for a service shop because we really felt that there was a lack of execution in the enterprise block chain space. When we left Capital One we really took that approach of how we could build stuff internally and inside the larger enterprises. So, when we made that leap we got a few contracts with some larger firms, so some stock exchanges some consulting firm’s government agencies as well built a bunch of different projects. It wasn't us. There was some overlap and some of the stuff we're doing but they're very different verticals very different products. But I mean you were good at building products, so it doesn't really matter what industry we're in. I mean we work well with the clients that know their industry and know their  stuff and we're good on just building products and executing so doesn't matter. But anyways all that to say that's when we started we were doing larger enterprise work I guess pretty rapidly.  We found that it was difficult to get stuff beyond a certain point. We knew that right coming from larger enterprises. I don't know what drove us to go back there. But yeah there's a lot of barriers that we can get into those. But you know we really wanted to take stuff to production. We really saw the disruption that this technology could actually bring to the various industries and to the world itself and the benefits it has to the end user and returning the control of that ownership back to the end user. And we really didn't feel like this vision and these goals that we had to try to achieve this by taking stuff to production was the easiest to do within the larger enterprise. So that's when we kind of switched. switched  our route and focused more on building outside.

Manseeb Khan:  Blockchain all everything, that you hear in the news either positive or negative a little bit more positively skewed. Is that how incredible blocking technology is and like how incredible and beneficial it would be to I guess enterprises and just like big conglomerates. Do you see any disadvantages, enterprises be medium or big size integrating with block chain technology?

Mathieu Glaude:  Yes. Not necessarily a disadvantage. There's a lot of proven use cases. If you look at the most popular things that are being worked on. This was from a Deloitte survey. Either this or last year. It seems like most large enterprises are doing something in blockchain right whether it's just building a  proof concept or trying to do a pilot seems like over 80 percent of executives in these large companies I think are with over 500 companies surveyed are doing something so people are learning people are investigating. People are dabbling with it. I don't think there's a lack of use cases and I think there are tremendous advantages of building these solutions. I think the difficulty of getting past a certain barrier to implement is just the products that you build using blockchains are totally different than any existing product. If I'm if I'm a bank and I see that I could potentially leverage block sharing technologies for KYC for example to store customers data on there and there might be an advantage to share this customer data amongst a consortium of other banks. But it sounds like a good idea. But you know it's that there's a lack of economic incentive for them past a certain point to even want to do that. So, one thing is like the learning to get up to speed with this stuff and see what the advantages are. But these people know that you know they're smart people they know what advantages these things could bring but there's a lack of incentive to want to follow through with these programs. Often, we see that you know these large enterprises already have existing businesses that are doing very well and they're very profitable for them. So why would they want to build something totally new totally disruptive that would disrupt their existing moneymaking either. Exactly their current moneymaker. To do this new thing. Right so it's a big gamble and obviously seen as a gamble. There's a lack of success stories and stuff but it's definitely one of the big difficulties we're seeing is just like the incentive to go on to do with the economics.

Manseeb Khan: Yeah, I mean that seems to make sense right because it's a very you see with a lot of the bigger corporations a lot of the bigger conglomerates the current way of doing things the best way to make the money. And it's very hard to say if it's going to be disruptive how things are currently happening and flowing why would we want to do that. I wouldn't invest millions if not billions of dollars into this new thing that's going to destroy what I currently have going on. This is amazing. I'm comfortable doing this.

Mathieu Glaude: And at the same time when these large enterprises the number one risk factor is cyber security. Yes. And like you're seeing repeatedly all these hacks happening there was just last week that massive Facebook when it's nonstop and like the ones we're seeing in the news are only the ones that are being broadcast. Exactly and to you most.

Manseeb Khan: Yeah there's so many of them that none of the companies that want any publicity behind right.

Mathieu Glaude: Right. So, it's a big factor as well. If I'm an executive driving blockchain technologies or driving innovation within my firm. I if I was going to say OK let's invest in this product. I think we're going to be able to create a competitive advantage by doing this and create a good business model on top of this. Well then watch right. I'm going to build this decentralized ledger technology or whatever I'm doing and then like every other piece of technology inside my company I'm going to need to wrap it up with a thousand layers to make sure.

Manseeb Khan: That it's all secure it's good to go. Yeah.

Mathieu Glaude: So, you know back to that incentive why would I spend. Call it a few millions on this one I'm going to have to spend ten on top just to secure its rights. Yeah exactly. So, a lot of these things really impact why you know what we're not seeing things progressed as fast as we would like. It's really not. It's really not a lack of technology it's really one of the big things. So, a couple of times there's is just incentive to one.

Manseeb Khan: Yes absolutely. Absolutely. So, you did mention on the top of the episode that one of the things that Northern Block does focus on is supply chain. I think one of the big parts that a lot of media coverage is not getting behind is how important supply chain is in the aspect of block chain. So, could you share a little bit on your opinion on why we think supply chain is very important. And I guess some use cases for it.

Mathieu Glaude: Sure. Yes, it was. We have a couple supply products that were building back by block chain technologies. A lot of the stuff we do is I mean we dabble with public block chains depending on the use case and the business requirements. You can make a distinction, right? between the public watching and permissions or consortium or even private auctions. A lot of the stuff that our partners and our clients want to build require consortium style. So that means identifying a bunch of parties that want to partner together to share data or share assets between themselves on an open ledger between themselves between the whole world just between them. So if you're saying I want to do a supply chain solution if you imagine McDonald's for example wanting to do a  block chain based supply chain solution to track the quality of their ground beef or their meats through the whole supply chain from time the cow was born to someone who consumes a hamburger you know you probably wouldn't put that on a public block chain like Ethereum or Bitcoin or you know whatever. I don't necessarily need the whole world to see how the access to even though you can encrypt stuff to have access to you know the patterns and data and what's happening so maybe in that case I have a let’s call it a hundred different parties. Probably more complicated than we think it interacts with you know from cow to hamburger. So as an end user it would be important for me to know that what I'm eating is actually what it is exactly. I've seen more and more of this stuff especially in the social conscious stuff like I want to know that what I'm getting is what it really is and so then that really comes down to how are you able to properly track the provenance of whatever good or whatever you're consuming. So back to that McDonalds example if I have 100 people in the supply chain then potentially there is all these touch points where people are interacting with the product or whatever the product is at that point. I might want to capture datapoints though might want to capture it you know, and it could be data points from an actual person that's touching it, or it could be data points from an IoT device or sensors or whatever for example that temperature controlling or whatever you know whatever success metrics we have for this product. So, get McDonald's I want to build the solution that every single person is going to use at the same time. It's hard to do.

Manseeb Khan: It's like No absolutely especially like we talked about McDonald's it's a huge franchise such a huge company it can be very hard to implement block supply chain solution for hamburgers or even French fries.

Mathieu Glaude: And then do they want it to do they want. At the same time if now I'm implementing this solution on creating a lot more audit ability and visibility into what's happening in the supply chain through all the different members want that's some of them are probably making a decent living there and maybe they're not bringing as much value to this whole thing but they're making money out of it so why would they want everyone else to see that exactly. So, there's an incentive there as well. But you can imagine if someone like McDonald's tried to implement all these people are most likely so dependent on that client they would have to buy into that. Yeah but so these are some of the types of things that we're doing is that we're building these consortium networks of parties for specific processes that we could go capture and we're very aware how hard it is to you know scale something that size that example we just gave. So what we do is with our partners in the industries that we're working in we really try to get a specific slice of that supply chain and we try to get everyone on their approved the concept do a pilot run it's successful with them once we've proven that there's enough value for the users and everyone involved and that's when we can start kind of expanding it in whatever direction we want to.

Manseeb Khan: Yeah absolutely. So, it's important to have a niche target  base. And speaking of all this McDonalds is getting a little a little hungry. So, you did also mention that northern block is doing some work in the digital identity space. Could you talk a little bit more about I guess in your terms what digital identity is and the advantages of implementing digital identity.

Mathieu Glaude: Yeah sure that's one of those big problems that a lot of different people are trying to solve. Back to the Facebook example it's like Facebook owns all their user’s data so their users are their product, or their site and they use that data to make money. So, the promise of digital identity is back to the fact that you can return data ownership to the user. So, you have this thing called sovereign identity as an individual I should own who I am. And so, what I interact with different people whether it's at the airport taking a flight and I need to show ID or I'm at the LCBO trying to buy a bottle of wine and then to verify my age or whatever it is that people need access to my personal information. I should be able to choose exactly what I shared with these people without them having access to all my information not just decentralizes the process right. Instead of all these different parties having their own databases that are vulnerable to attacks with my personal information on it which could harm me instead I have my identity and my personal information stored in a decentralized manner and then I could who's who I share it with. And, what you share essentially with who. Right exactly. And so, like I mentioned that there's a bunch of different people that are trying to do stuff in that space. I mean you hear about the Uport or civic and those are some of the leaders in the space right now. We haven't seen much adoption yet. Of course, this is  indicative of the whole space. So, what we're doing is, so we had worked on a couple of concepts. So, we got familiar with the topic how can we use the benefits of it since Northern Block builds decentralize applications, identity is a big factor for every single one. Identity is at the center of every single application. And so, if I want to for example in my supply chain solution if it's decentralized enough I want to make sure that the data that is being provided is coming from a certain person. I want to verify it's coming from that person. I want to know that it's that person driving the data. So, it's clean data. There's no applicability there. If I have trade financing tool or asset trading or whatever you need to know who the person is right based on whatever jurisdiction you're operating in they're making or rules or regulations whether you need to be accredited whether KYC has to be done to be able to transact. So all these things could potentially be decentralized so we could actually stop having hundreds and thousands millions of companies just hoarding everyone's personal data and you really return ownership of the owner which is the user which is yourself and then you could actually just control we share it with and who sees it and you know how it's being used and you could potentially imagine a future where you could actually make money out of sharing that stuff right if you want and share it.

Manseeb Khan: Yeah absolutely. A very interesting use case and everybody gets to be like their own influencer in the sense of like oh hey this Car company has tried to target me. Ok cool I'll share this information, so they know that I want a minivan or what have you. Right.

Mathieu Glaude: Yeah and then imagine like every time you go online now you're seeing all these websites that tell you that there are other browsing the cookies. And so, what if you had a decentralized browser and then your identity is attached to your usage right. So instead of all these websites taking cookies your taking the cookies and then if they want the cookies and they could ask you for it and then you could start creating markets like that. Right. So more. It's just that it's a win for the user for people.

Manseeb Khan: Yeah absolutely. And it goes back to like what we started with is like it comes down to reclaiming who you really are and your sovereign identity and just taking it from there right like you have ownership of who you are. Ideally you want to have the exact same ownership in a digital space.

Mathieu Glaude: And it removes friction like you don't have to do all the repetition everywhere. Yeah. Oh, my goodness. Every time you need to consume a product or service the same thing you're providing the same information. So, it removes friction for you and ultimately back to this whole incentive thing but ultimately it will be cost savings for all these companies as well having to manage and secure  your private data. They would own it

Manseeb Khan: Or even like personally like I know. I can count the number of times I forgot my ID and I go to bar, and they ask for my ID. Like just Google my name. I've pretty good SEO behind name, you can just Google me. I'm who I am.

Mathieu Glaude: If the data is as trust it's trustworthy enough that's what we're trying to get like authentic data that people trust is accurate then you could start getting in situations where I don't even need to share like a certain piece of information if they need it. If another trusted party let's call it a bank for saying a bank is trusted enough to make an attestation that I am who I am, I live at this address and whatever right. So potentially you could limit the amount of information that's being shared. If people are trusting what other people have said about you.

Manseeb Khan: Yeah exactly. That's a cool concept. Yeah that's like that's exactly what going to touch a little bit more next if there's more than enough opportunity of people becoming trusting parties like trusting party don't necessarily have to be institutions or an organization they can just they can't even be individuals of like yeah this is. That's him that's my little goofball boom.

Mathieu Glaude: And you know if you're storing all that data all these transactions on an immutable ledger one could think that there are projects in space as well and I think this is going to be huge. It's the whole status of reputation side of things that now it could actually create a standard for a status or reputation of someone that impacts what these people are allowed to do or potentially if these people are interacting with other people and impacts the quality of the data they're testing to something that I know there a reputable person and I know they're a reputable person because they've done all these things and it can start screening business logic around the stuff and you know really decentralized it no longer I can actually focus on the bank or exactly realty companies.

Manseeb Khan: And it's more power to the individual right. It goes down to back having sovereign identity and just having even more validation in I guess the blockchain ecosystem or what have you. Exactly. So other than supply chain and having a digital identity what else excites you about the blocking space?

Mathieu Glaude: There's a lot of cool things that have a lot of potential. Just starting in the public space taking a step out of the enterprise where like the enterprise you talk about supply chain stuff and IoT stuff, identity stuff we could get back to. But some of the some of the things that we're seeing that are really exciting in the public blockchain space. One is the decentralized exchanges. Once the hit once they get it right and you're able to do a true peer to peer exchange of assets and you're able to create a market that's going to be very powerful. So, we're excited about the decentralized exchanges. Stable coins have been a huge topic of discussion. Basically, a stable home just  a better asset to trade because it just holds its value. Whereas people aren't comfortable right now using a lot of the crypto assets as a leverage or to move around just because of the fluctuation in prices right.

Manseeb Khan: So, a stable coin be something like an asset that is like I guess tied down with gold or like a legit like physical commodity or?

Mathieu Glaude: Yeah there's a bunch of different ways to do it. It could be tied to a commodity it could be tied to the U.S. dollar right. Or it could be tied to a bucket of crypto assets. There's a bunch of difference approaches there and what we're seeing all these different things take a couple of weeks ago the exchange Gemini's and the U.S. exchange owned by the Winklevoss twins. Right. Right. Those two, the Facebook guys. So, they launched the stable coin pegged to the U.S. dollar. So you know if I think about a used case that I want to do cross-border remittances it might not be the greatest right now with the current market conditions tend to use ether or use lite coining or to use bitcoin just because if you know from the time I send it and then the time it gets to a place in this transaction someone else that value fluctuates so much and so people are looking to solve that problem of how could you use distributed ledgers for these transactions that are pegged to something more stable or if it's fiat or a bucket of crypto.

Manseeb Khan:  Right. Right. if I accidentally send somebody even more money than I should I get pissed. Like I couldn't imagine sending somebody the exact Ethereum that they requested like oh it's a skyrocket 15 percent, like god.

Mathieu Glaude: Yeah, it's just that it's not usable in the real world. Absolutely. Absolutely. You can scale that business. So yeah, it's an interesting space as well that there's a bunch of stuff that is super exciting that people are working on in the public space. I mean there was a personally in Northern Block  we're working on a lot of developer tools. so the technology is still very early on and depending of where you're building on what the block chain you're building you're not necessarily going to get the same help from tools and documentation and stuff like that which makes it easier to develop which in a lot of you know software development outside of outside of smart contracts and blocking technologies like it's more mature. So, you have that subsets of developer that there are less barriers to execute and implement stuff whereas if you're smart contract developer the time you'll have is probably developing on Ethereum just because they're the most mature platform and mature block chain and set of tools right. I mean even at a lot of the tools are very fragmented and need to go all over the place right. What we're doing and what we're trying to help the developers because you know that's been a big pain point for us trying to build this stuff. Yeah how can we bring everything together to make it super easy to rights to deploy smart contracts to test that trust us networks to the point nodes to deploy API is all the stuff that there's a lot of commonalities for any developer that's trying to do this or trying to build blockchain products. so, we're implicated in that space as well and we're happy a few team members of ours are going to San Francisco on Friday this week actually. To participate in San Francisco Ethereum hackathon so exciting to see just what the people are working on and trying to move forward.

Manseeb Khan: Yes. No absolutely. I mean I'm very excited to see you creating a I guess central hub with all the developer tools for everybody out there like that be. That's got to be more than more than valuable to everybody.

Mathieu Glaude: Ultimately, it's the developers that choose where things are being built. Exactly. It's not the business of the business as have other requirements and everything but at the end of the day it's a developer that pulls the trigger on it. Yeah. If you could give them proper toolkits to be able to execute better. Yeah, I think that that's it's a win for everyone right. And so, us being a first user of that it's really helpful building and because we're building it for ourselves and we're using it ourselves. And we're looking forward to growing that product into the market.

Manseeb Khan: So, Matt if people want to get in touch with you or Northern Block or even one of the amazing devs that you're sending are San Francisco will be the best way to contact you guys would it be to Twitter or Snapchat you. How do we. Well the best way to get touch with us.

Mathieu Glaude: We're not on snapchat but you could just Google US Northern block online. Northernblock.ca  or on most social channels. We're active on Twitter LinkedIn so you could find us pretty easily there and that but please reach out if you have any questions. We love talking to people about this stuff.

Manseeb Khan: Well Matt thank you so much for sitting down with me today. I learned way more about supply chain and blockchain than I ever would have even. I'm very excited about having a sovereign identity and I'm very excited to see what's more in store. Other than the developer tools and just the amazing work that you do in Northern Block. I can't wait to have you on the show again.

Mathieu Glaude: Thank you. I appreciate  you have a me. This was a fun conversation.

 

 

End of Podcast

 

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Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
Read More
FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

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Where to Find Startup Loans in 2018

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LendingArch | Lewis Mudrich | Oct 4, 2018

If you need some funding for your small business then you may be wondering where to start, as well as how to find, the best options and most competitive rates (especially when you’re browsing through small business loan options).

Indeed, getting funding for your startup can seem like a daunting task. At the same time, there are a variety of financing options available if you know where to look. Luckily, we’ve done the research for you.

Here is where you can find the best small business loans in 2018:

Startup financing loans

Canadian startups can apply for a startup financing loan through the Business Development Bank of Canada (BDC). This loan is specifically designed for startups in the first 12 months of business and can be used to help launch and grow the business.

According to the bank’s website, the loan can be used for:

  • Working capital to supplement an existing line of credit
  • Fixed assets
  • Fund marketing and startup fees
  • A franchise purchase
  • Advisory services

In order to qualify for a BDC loan, you must have a business plan in place, have experience in your field, provide personal and credit references, and show market potential. You can apply for a BDC startup loan here.

Microloans

Does your business have a social enterprise slant and community focus? You may be able to get approved for microloans from Community Micro Lending. You can apply for the lender’s “Start-Up Loan” of up to $5,000 or, if you’ve been in business for more than a year, you may be eligible for an Expansion Loan of up to $10,000. In order to qualify for this microloan program, you must be an aspiring or current entrepreneur located in the Southwest BC area.

If you’re working on a green business or green technology startup, you can also check out Microloans for green business. For example, the Vancouver City Savings Credit Union offers startup loans of up to $35,000 and expansion loans of up to $70,000.

There’s also the ACCESS Community Capital Fund that can provide loans of up to $5,000. The ACCESS Community Capital Fund is a Canadian Registered Charity that helps business owners access microloans. Some other microloan programs include the Ottawa Community Loan Fund, The Alterna Savings Community Micro-Finance Program, and ACEM Microcrédit Montréal.

Keep in mind that microloan opportunities can vary based on province so be sure to look for programs in your area.

Government financing

If you want to get your startup off the ground, you’ll be happy to learn that there are many different government financing options available.

The Government of Canada, for example, offers several different types of small business loans. These vary depending on industry, demographics, and location. For example, loans range from the Aboriginal Business and Entrepreneurship Development financing to FACTOR funding for the sound recording industry - and lots of options in-between.

To find out what’s available, look at programs that you are eligible for - based on your region - as well as certain demographic groups that you may belong to. Be sure to do your research and make sure you meet the eligibility requirements before applying for a loan.

Credit cards

Now, here’s a lending option that you may already have access to: your credit card. While credit cards aren’t an ideal funding source, you can use them if you need to purchase products and equipment for your business - perhaps while applying for other small business loans. Just be aware: credit cards may have sky-high interest rates. With that said, there are special business credit cards  that may be a good fit for what you need.

Check out:  4th Annual VanFUNDING 2018:  CONVERGE Conference, Nov 29-30 in downtown Vancouver

Credit cards should be the last business funding option as you certainly don’t want to incur insurmountable debt at a high interest rate. Not only that but the repayment terms may not be that flexible. On the other card, a business credit card can help you manage short-term cash flow issues.

Crowdfunding

The internet isn’t just about cat memes and popular catch-phrases, it’s also a place to get money for your startup. Using the power of crowdfunding, you can utilize your network and the vastness of the internet to get your message and business out there and make some money.

Using sites like Kickstarter, IndieGoGo and specialized platforms like iFund Women (you guessed it: for female founders!) you can share information about your project and garner support from friends, family, and colleagues. Usually these sites take a fee for posting your project page, but the money you can raise will hopefully offset those fees. For more comprehensive options, check out this crowdfunding directory.

Family and friends

If you’re lucky, you may have a family member or friend who is willing to provide funds to help you with your startup costs. On one hand, this can be great as there is less red tape and hassle to get you your much-needed cash. On the other hand, if things go awry, you may lose more than your investment.

If you go this route, be sure to treat it like a business relationship. Create a contract and have a payment schedule that works for both of you. It’s important that both parties feel comfortable in this situation - it’s not just about getting your hands on the cash.

Small business loans from online lenders

If you can’t get approved for a traditional bank loan and you don’t want to hit up your friends and family, you still have another great option for a small business loan. You can apply for a loan through an online lender.

For example, LendingArch helps startup founders and small business owners compare loan options effortlessly and easily. You can compare your options in a matter of seconds and the application process is simple. On top of that, LendingArch doesn’t require any collateral for your startup loan and offers flexible repayment schedules to accommodate your business.

Better yet: when applying for a small business loan online through LendingArch, you won’t find the same restrictions you typically encounter with other loans. So, if you need funding to start your company or expand your business, we’ve got you covered.

There are no hidden fees, rates are competitive rates, and you can create a company profile in mere minutes. From there, you can start an application to see which small business loans are available to you.

See:  How Fintech Is Transforming Microfinance

Bottom line

If you’re a startup founder looking for funding for your business, there are many options out there. Using this guide, you can check out the various resources that are available to you and find a small business loan that suits your needs. But remember: be sure to apply for a loan with reasonable interest rates and repayment terms. This way you can pay back the loan on terms that work for you while focusing on growing your business.

Interested in checking out your startup loan options? Compare small business loans at LendingArch!

 


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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
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Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
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Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
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OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
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Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
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FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

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Coinbase Gears Up for Biggest-Ever Expansion of Crypto Asset Listings

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Coindesk | Leigh Cuen | Sep 25, 2018

Coinbase has revamped its policy for listing new cryptocurrencies, replacing an ad hoc process with one the startup hopes will rapidly expand the range of assets traded on its exchange.

Announced Tuesday, the new system allows almost anyone to submit a cryptocurrency through an online form for evaluation under the company's digital asset framework. Those that meet the criteria may be listed, although not necessarily available right away to all Coinbase customers.

That's because listings will be added on a jurisdiction-by-jurisdiction basis, rather than supporting all assets globally as Coinbase has done up until now. As a result, some coins won't be available for Coinbase customers to trade in places where local regulations either expressly forbid them or are unclear about their legality. It's not unlike Netflix streaming certain movies in one country but not another for copyright reasons.

Previously, there was no formal mechanism to request a listing, and some organizations would reportedly lobby Coinbase to support their assets. As such, the change represents a welcome mat of sorts to crypto development teams from a company whose mainstream popularity potentially offers unparalleled exposure.

"We're now actively reaching out to asset developers with this," Coinbase CTO Balaji Srinivasan told CoinDesk. Referring to the creators of the first two digital currencies the company listed, bitcoin and ethereum, he added:

"Satoshi and Vitalik [Buterin] were not Coinbase customers. But all future and current asset creators and developers are. So it's like we're becoming a two-sided marketplace."

In this marketplace, Coinbase will charge an application fee and an additional fee to list approved assets. Srinivasan would not say how much they will be but said they wouldn't be prohibitive.

See:  Coinbase ordered to give the IRS data on users trading more than $20,000

Further, the application fee is only meant to deter spam, he said, and the listing fee will cover the cost of due diligence. "We do not want that to be a burden that deters people from listing new assets with us," Srinivasan said.

In the meantime, Srinivasan confirmed Coinbase is still evaluating cryptocurrencies such as ada, lumens, and zcash, which may be rolled out globally or selectively depending on specific regulatory requirements.

Yet aside from regulatory and technical considerations, the main listing criterion for Coinbase is market demand.

"We want to make sure that our customers are there," Srinivasan said. The three big questions are "A) is it legally compliant? B) Is it technically secure and innovative? C) Do our customers want it?"

Worldwide compliance

Coinbase may be breaking ground here, as jurisdiction-by jurisdiction asset listings appear to be a rare practice among crypto exchanges.

"It's actually an approach I've been advocating for a long time," said Stephen Palley, a partner at the Washington, D.C.-based law firm Anderson Kill, who often pokes fun at crypto entrepreneurs' naivete about legal requirements.

"If you're Ford or you're Apple or you're Google and you want to sell your stuff worldwide, you actually do worldwide compliance," he said, noting that such brands tend to customize their terms of service for specific countries.

While it's "a smart play" that minimizes legal risks while allowing a company to engage in selective market testing, Palley added:

"It's a pain in the ass and it's expensive."

Indeed, putting this policy into practice is likely to add a layer of complexity to Coinbase's operations, as the company will have to make sure that customers are not trading assets that their local regulators don't allow.

See:

Crypto exchanges have already faced similar challenges in preventing their sites from being accessed in U.S. states where they aren't licensed to do business.

"While geoblocking may help prevent crypto companies from inadvertently becoming subject to certain rules and regulators, even that precaution may not be enough," said Justin Steffen, a litigation partner at Jenner & Block LLP. "The New York Attorney General's recent report on crypto exchanges, for example, noted the lack of exchanges that limit VPN access."

When asked about this, Srinivasan said Coinbase "will do whatever is necessary to remain compliant with local law. This may mean using [customer identification] details in addition to or as a supplement to IP address. (I.e., enforcing restrictions based on a customer's country of residence/bank account)."

Unanswered questions

There are still many questions to be answered about how this switch will impact Coinbase users.

For instance, will moving from California to New York mean a customer loses access to assets she purchased on Coinbase? Also, if Coinbase does block VPNs, that could be a turn-off for privacy-conscious users, or, say, Americans traveling to countries like China or Iran with restricted internet service, where "tunneling" is the only way to access regularly visited sites.

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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
Read More
Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
Read More
Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
Read More
OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
Read More
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
Read More
FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

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The Bitcoin Boom Reaches a Canadian Ghost Town

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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.


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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
Read More
Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
Read More
Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
Read More
OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
Read More
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
Read More
FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

Share

Why Life Insurance Policies Matter

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NCFA Sponsored guest post | Sep 18, 2018

“You are such a worry-wart.”

This is the common reaction I get whenever I tell people about how I like to plan ahead. They tell me that I’m too overreacting, that I live too much for the future and not for the present, and that I really don’t get the concept of YOLO.

I really don’t give a darn about what these people say. They’re impractically wasting their time, breath, and energy trying to change how I live my life.

What if I’m so gung-ho about planning for the future? What if I’m too overly prepared even my future dogs and cats will be feasting every single day? It’s still better than having no insurance. It’s still better than having my children carry my weight. Lastly, it’s still better than being ill-prepared.

See:  What Can Traditional Banks Learn From Fintech?

If I were to choose between too much and too little, I’d choose too much any day. After all, what’s wrong with having so much you could spare a ton? It’s a thousand times better than having to ask for financial aid because you have so little. Do you get me?

I am a mother of two. My husband and I are both working. We’re your average family but we get by comfortably – maybe even a little extra from time to time. We are able to fend off our needs without having to sacrifice time and resources. We eat three meals a day – five, including snacks – and we even spend a little more on special Sundays. Family dinners, spontaneous vacations, movie nights, and whatnot, we do it all.

Mind you, I’m not here to brag but to tell a story. A story of how such a financially stable family as mine still choose to invest in life insurance despite our quality of living. We can afford things but we choose not to buy them. We can be first in line whenever Apple issues a new iPhone but we choose not to. We’re practically free to buy limited-edition albums of our favorite recording artists, but instead, we prefer to just download them on iTunes. Are we being cheapskates? Are we being tightwads?  Do we fail to make the most out of our limited time in this world?

NO.  We are being practical.

We know for a fact that money is temporary, having a job is not forever, and that good things will come to an end, one way or another. We know YOLO but we uphold a different version of it. You Only Live Once, they say. But it is exactly because you only live once that you should avoid making an embarrassment of your life. Live healthy, live fully, but live wisely. Don’t throw your hard-earned money down the drain because you don’t know how long it’s going to keep you. You don’t know how long your boss is going to keep you. This is the reality of life – one that you must definitely understand.

Getting life insurance doesn’t make you a worry-wart; it makes you a wise man (or woman, for that matter). It transforms you into someone bolder, braver, and more optimistic. Knowing that your future is secure allows you to live each day to the fullest. To spend on yourself and your family like you never have before because you know that there is much promise waiting for you in the years ahead.

This is the truth that people often fail to see. A truth that life insurance companies like Upside Insurance Greenville, Monumental, and Weatherly try very hard to introduce to people. But we’re just big dummies, aren’t we? Instead of welcoming wise words from people who are well-oriented about the harsh realities of life, we shun them and tell them to pack up their stuff because we “YOLO.”

See:  Tune into FINTECH FRIDAY$ - Insightful stories from the edge

It’s never too late or too early to start the change within yourself. Don’t put off tomorrow what you can do today. And if you’re thinking “This lass is going to regret all the money she invested on her life insurance if it proves unnecessary someday.”

Life insurance will always and forever be necessary. There will always be a need for it. And if, in the future, I can manage even without the insurance, it still wouldn’t be a waste. It gives me the security I need to face life bravely – and that, alone, is fair merit.

To really get a better view of how life insurance can affect your life, read this: https://www.gatewayfinancial.biz/private-clients/advantages-disadvantages-of-life-insurance/

Source:  Sponsored guest post


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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
Read More
Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
Read More
Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
Read More
OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
Read More
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
Read More
FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

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Wealthsimple launching zero-commission trading platform

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Globe and Mail | | Aug 16, 2018

Wealthsimple Inc., Canada’s largest robo-adviser, is infiltrating the discount brokerage business with the launch of a new trading platform that will allow investors to buy, sell and track stocks and exchange-traded funds with zero trading commissions.

The online portfolio manager – which manages more than $2.5-billion in assets and is predominately owned by investment giant Power Financial Corp. – is naming the platform Wealthsimple Trade. It’s a mobile app that will provide users access to unlimited zero-commission trades of more than 8,000 publicly traded stocks and ETFs listed on major Canadian and U.S exchanges.

At launch, securities can be bought and sold that are traded on the Toronto Stock Exchange, TSX Venture Exchange, Canadian Securities Exchange, New York Stock Exchange and the Nasdaq Stock Market.

“The options for stock trading in Canada aren’t great – traditional brokerages have high fees, the technology is dated and clunky, and the experience isn’t exactly user-friendly,” Mike Katchen, chief executive and co-founder of Wealthsimple, said in a statement. “We saw an opportunity to take the simple, human approach we’re known for and apply it to the trading experience.”

The platform is currently in a beta version and will soon be rolled out to users by invitation this month, followed by a wider, public launch later this year. The platform is available on iOS and Android systems and will include market and limit orders and a stock-watch list to monitor stocks without buying.

See:  An investor’s guide to robo-advisors 2018

In 2017, 59.9 million trades were executed in the online brokerage channel in Canada and the average commission revenue earned per trade over that time frame was $10.07, according to the Retail Brokerage and Distribution Report by Strategic Insight.

Wealthsimple’s zero price tag for stock trading is a first in Canada and comes at a time when investor advocates have been pushing regulators for heightened fee transparency. The majority of Canada’s existing 15 discount brokerages charges between $6.95 to $9.99 a trade depending on the number of transactions an investor makes a month, while a handful of them offer zero-fee trades for exchange-traded funds. Prior to Wealthsimple Trade, Questrade offered one of the lowest fees on the Street at $4.95 a trade.

Similar to other discount brokerages, there is no minimum account size. Opening an account takes minutes – compared with some traditional platforms that can take over two weeks to process. Once they receive an invitation, current Wealthsimple clients – who now number more than 100,000 – can sign into the new app using their existing log-in.

In addition to letting users execute commission-free trades, the app will educate clients about investing and the risks associated with picking stocks, and encourage responsible investment behaviour.

Robo-advisers – also known as online portfolio managers or digital advisers – provide clients with a recommended investment portfolio predominantly made up of ETFs – all for much lower fees than usually offered by traditional financial advisers. The introduction of a trading platform that shifts away from predetermined portfolios of ETFs doesn’t mean Mr. Katchen believes there is more money to be made in buying and selling of stocks.

See:  Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors

“Our approach to investing hasn’t changed: The smartest way to grow your money long-term is to have a diversified, low-cost portfolio that tracks the market, contribute regularly, and stay the course,” he said. “But that doesn’t mean there’s no place for buying and selling individual stocks – as long as it’s done responsibly as part of a holistic financial plan.”

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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
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Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
Read More
Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
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OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
Read More
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
Read More
A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
Read More
FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
Read More
Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
Read More
Blockchain's potential will continue to spur public and private investment

 

Share

Square partners with eBay to expand lending for ‘underserved’ small businesses

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CNBC Markets |   | Jul 24, 2018

Fintech company Square is boosting its small-business lending with an eBay partnership.

Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday.

Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital.

See: 

Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners in 2011. It uses sales data to trigger invitations for financing that could boost growth.

Still, credit availability continues to be an issue for smaller merchants. Heading into this year, small businesses reported stronger revenue growth and profitability but still struggled to get loans to pay operating expenses and wages, according to the Federal Reserve’s 2017 Small Business Credit Survey. As many as 70 percent of merchants didn't receive the funding they wanted last year, the report said.

San Francisco-based Square, run by Twitter CEO Jack Dorsey, is best known as a credit cards processor but also offers payment hardware. Its peer-to-peer Cash App is growing faster than PayPal’s Venmo, according to a recent Nomura report. It began offering cryptocurrency trading on the Cash App late January.

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

Forbes | Gerald Fenech | Dec 12, 2018 The crypto space, though promising in a myriad of different ways still has many obstacles to overcome. Bad actors are slowly being weeded out but at an excruciating pace. Ideally, the crypto space would have so much competition, innovation and use cases that the best ideas and best innovators would naturally stand tall. Though 2018 has been a trying year for everyone in the space, 2019 is looking positive as many promising projects are rearing to go. These neophytes, though not experienced are seeking to close the gaps within the crypto space that have lingered since the beginning, namely; security, accountability and transparency and above all, practical implications for the technology. Countries like Gibraltar, Malta, and Switzerland seeking to build legislative frameworks for these new businesses to operate and thrive in, and give them a home. However, it is a difficult balance; on the one hand to regulate, securitize and make everything compliant, whilst also not stifling budding, inherent innovation. Although everyone recognizes that DLT has huge potential, the time has now come for the space to mature, become regulated and for things be done right. Now is the time to forget the ...
Read More
The Security Token Field - The Next Step After the ICO Annihilation?
Bloomberg | Julie Verhage and Jennifer Surane | Dec 10, 2018 In 2018, a number of financial technology startups came into their own. Free trading platform Robinhood Markets Inc., for example, added new services and billions to its valuation. And Stripe Inc. was valued by investors at a price higher than the market caps of 249 of the companies on the S&P 500 Index. But the industry is also maturing and consolidating, and larger industry players, hoping not to be left behind by the new era of digital finance, are stepping up their hunt for acquisitions. What should we be on the lookout for in 2019? According to the fintech pros surveyed by Bloomberg—more deals, swirling IPO rumors and a continued steady stream of checks from venture capitalists. Here’s a wrap from industry experts. (Quotes have been lightly edited for clarity and length.) See:  OSC Seeks Applications for Fintech Advisory Committee IPOs looming Up to this point, financial technology startups have been hesitant to enter the public markets. And who can blame them? Most fintech companies that have gone public in recent years have seen their share prices tumble, and ample venture capital funding has buffered balance sheets. Still, a major IPO ...
Read More
Experts predict the five big fintech trends of 2019
Coinsquare release | Dec 6, 2018 The acquisition was closed for $12 million CAD and brings the leading cryptocurrency wallet on the Stellar platform into the Coinsquare ecosystem TORONTO, Dec. 6, 2018 /CNW/ - Today Coinsquare, Canada's premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced it has acquired BlockEQ, the leading cryptocurrency wallet on the Stellar network. Coinsquare purchased BlockEQ for $12 million CAD and will leverage BlockEQ's technology to help Coinsquare and its users connect further with the world of cryptocurrencies. See:  House Finance Committee Urges Canadian Government to Regulate Cryptocurrencies "We have enormous respect for what the BlockEQ team brings to Coinsquare," said Cole Diamond, CEO of Coinsquare. "They are one of Canada's best tech teams, and the product they've built is immensely valuable. That combination in partnership with Coinsquare's technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond." BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency wallet that empowers users to buy, trade, and hold cryptocurrencies in a secure manner. It allows for the tokenization of crypto assets in order to allow them ...
Read More
Coinsquare acquires BlockEQ to expand its cryptocurrency offerings
OSC Release | Dec 6, 2018 TORONTO – The Ontario Securities Commission (OSC) is seeking applications for membership on its Fintech Advisory Committee (FAC). The FAC advises OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry.  OSC LaunchPad is a dedicated team that engages with fintech businesses, provides guidance and flexibility in navigating securities regulatory requirements, and works to keep regulation in step with digital innovation. The FAC will meet quarterly, with additional meetings as required. The FAC is chaired by Pat Chaukos, Deputy Director, OSC LaunchPad, and will consist of up to 15 members. Membership terms will be for one year.  Members will be selected based on whether they have direct experience in one or more of the following: Digital platforms (e.g., crowdfunding portals, crypto-asset trading platforms, online advisers); Crypto-assets or distributed ledger technologies (e.g., blockchain); Data science or artificial intelligence (AI); Venture capital, financial services, securities, legal or accounting experience with a focus on the fintech or technology sector; Fintech or technology entrepreneurship; Compliance or regulatory technology (RegTech) solutions; or Cryptography or cybersecurity. See:  OSC outlines key areas of focus for 2018-2019 Interested parties should submit a résumé indicating their ...
Read More
OSC Seeks Applications for Fintech Advisory Committee
Coindesk | Nikhilesh De | Nov 30, 2018 Members of VanEck, SolidX and the Cboe BZX Exchange met with U.S. Securities and Exchange Commission (SEC) staff earlier this week to present a new argument on why the bitcoin market is ready for an exchange-traded fund (ETF). In the latest push to convince the regulator to approve a rule change which would open the door for the country’s first bitcoin ETF, the three firms met with the SEC’s Division of Corporation Finance, Division of Trading and Markets, Division of Economic and Risk Analysis and Office of General Counsel. Notably, Monday’s effort differed from previous presentations, which took more of a regulatory focus. See:  OSC approves Canada’s first blockchain ETF Instead, the proponents’ argument centered around the idea that the bitcoin market is mature enough to support an ETF, and at present looks similar to markets for other assets which already have such products. The presentation gave several examples of assets that already have ETFs, including crude oil, silver and gold. The presentation specifically tied the idea of futures markets with spot markets, noting that for money substitutes such as gold and silver, this connection between the two can be proven with empirical ...
Read More
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch for Approval
Investment Executive | By James Langton | Nov 23, 2018 Many hurdles remain for the CMRA before it becomes a reality Canada’s regulatory landscape faces a transformation as politics, shifting priorities and new legal realities push the investment industry’s overseers in new directions. Most obviously, the prospect of a fundamental reshaping of the regulatory framework in Canada now is, at least, a possibility – given the Supreme Court of Canada’s (SCC) long-awaited decision on Nov. 9, which reversed a lower court’s ruling in Quebec, that declared that a proposed federal/provincial model for a co-operative capital markets regulator is constitutional. But while this decision knocks down a basic legal obstacle for the new model for overseeing the securities industry, that doesn’t mean that the adoption of a co-operative regulator is imminent – or even inevitable. Indeed, the SCC’s decision hints at the significance of the hurdles that still must be cleared before the proposed Capital Markets Regulatory Authority (CMRA) can become a reality in Canada. Although the SCC has found that the proposed CMRA model is constitutional, that doesn’t necessarily mean it is a good idea. “It’s up to the provinces to determine whether participation is in their best interests,” the ...
Read More
Not yet a done deal
Forbes | Lawrence Wintermeyer | Dec 2, 2018 If your professional interests take you to the crossroads of financial services, regulation, compliance, and digital - especially data analytics and machine learning - which altogether is known as regtech, you are in the right place. You are part of statistically small and very geek-oriented professional community, but you know this, and though you might choose not to admit this to strangers at this year's festive parties for fear of causing great pain by boredom, you are in good company with this Contributor and my interviewee. I first met Jo Ann Barefoot when I was chairing the U.K. Financial Conduct Authority (FCA) Industry Sandbox Consultation, where she provided excellent guidance and insights. Jo Ann is one of the most dedicated and busiest advocates of the regtech space on the planet and is truly outstanding in both her knowledge and passion in this area. She dedicates her time to a number of global bodies and initiatives related to regtech: she is a Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government, a Senior Advisor to the Omidyar network, sits on the fintech advisory committee for FINRA, is an Executive Board Member of the International RegTech ...
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A Regulation Revolution In Financial Services
NCFA Canada | Nov 23, 2018 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep19-Nov 23:  Future of Business Tokenization - How Blockchain Challenges Concept of Money About this episode:   On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy! The future of business tokenization How tokenization is going to disrupt real estate and auto industry How blockchain challenges the concept of money Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin) Bio:  Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and ...
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FINTECH FRIDAY$ (EP.19-Nov 23):  Future of Business Tokenization - How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
CBC News | Nov 23, 2018 More than 3,000 people contributed to campaign to buy new installation from renowned Japanese artist LET'S SURVIVE FOREVER. That's the name of the infinity mirrored room the Art Gallery of Ontario plans to purchase from world-renowned artist Yayoi Kusama — that is, if its crowdfunding campaign is successful. And yes, it's always spelled in all-caps, the Art Gallery of Ontario (AGO) said. Over 3,000 people have already chipped in a contribution to permanently acquire the brand new Kusama installation, even though they hadn't seen it until now. The AGO said its campaign has brought in around half of the $1.3 million it needs to buy the work, but it's hoping more people donate on next week's "Giving Tuesday," a day devoted to donations following "Black Friday" shopping. Here's a look inside the room: The major installation, which will be given a special place at the downtown Toronto gallery, features mirrored orbs on the ground and suspended from the ceiling — similar to the work Narcissus Garden, which dominated a large room in the AGO during last year's ultra-popular Kusama exhibit. There's also a mirrored rectangular column inside the LED-lit room, which creates what's said to feel like an infinity room inside an infinity room ...
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Art Gallery of Ontario shows off the Yayoi Kusama infinity room it's crowdfunding to buy
CNBC | Eric C. Jansen, president and chief investment officer of Finivi | Oct 31, 2018 The many big companies disrupted by blockchain have now made it a priority to harness this technology. Large firms such as Accenture, Facebook, Google, IBM and Microsoft are developing patented products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Ironically, the whole raison d'etre of blockchain is to circumvent the very type of centralized authority these traditional tech companies represent. Development efforts in both private and public blockchain are seeking to forge new business models. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $700 million and is projected to exceed $60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. These firms are developing products and services based on blockchain's digital-ledger open-source technology that can be accessed and adapted by anyone. Blockchain enables global transactions between parties without going through ...
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Blockchain's potential will continue to spur public and private investment

 

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