Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Web3, Decentralization, DAOs
Tetra and Figment Unite to Introduce Staking Services in Canada
Digital Asset Partnership | Release | Aug 7, 2023
Image: Unsplash/krakenimages
Tetra Trust Company, a Canadian leader in digital asset custody, has announced a strategic partnership with Figment, a leading staking infrastructure provider.
This partnership marks a significant milestone in the Canadian digital asset landscape and sets the stage for a transformative future. Here are the key details:
- Strategic Partnership
- The collaboration between Tetra and Figment aims to democratize staking services for institutional clients in Canada.
- Tetra, established in 2019, has made significant strides as Canada's only trust company licensed to custody digital assets.
- Figment, renowned for its pioneering staking infrastructure, serves over 250 institutional clients worldwide.
Hear Didier Lavallée, CEO at Tetra speak at FFCON23: Strategies for Canadian Fintech Companies Amidst Regulatory Crackdowns
- Expansion
- With this partnership, Tetra will expand its product suite to include staking services, reaffirming its commitment to growth in the dynamic digital asset landscape. By combining Tetra's renowned custody offering with Figment's leading blockchain infrastructure solution, the two companies plan to transform staking services in Canada, delivering unmatched value to institutional clients.
- The partnership unlocks unparalleled opportunities for institutional clients to earn rewards on their digital assets. Tetra's keys are securely located in Canada, and Figment's validators operate within the country, ensuring a strong foundation of trust and compliance within the Canadian regulatory framework.
Didier Lavallée:
This partnership strengthens Tetra's position as the preferred choice for digital asset custody in Canada, proving our dedication to excellence and innovation in our field of expertise.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Blockchain Coalition Report: The State of Web3 in the U.S. – State by State Analysis
Report | Aug 4, 2023
The USBC, in collaboration with Moonbeam Exchange, has released a report titled "The State of Web3 - Economic Activity Analysis Across the U.S." This report explores the current Web3 landscape within each state, highlighting investment, startup activity, innovation ecosystems, and academic research.
Web3 represents a transformative shift towards a decentralized, user-centric, and inclusive internet. It envisions a future where transactions and interactions occur directly between peers, eliminating the need for intermediaries. Associated with blockchain and cryptocurrency, Web3 is attracting attention from various stakeholders, including developers, entrepreneurs, regulators, investors, and more.
Founded in June 2021, the USBC is the only organization with a multi-state focused approach. It seeks consistent policies at the state level through alignment on public policy and legislative priorities, building relationships with regulatory bodies, and seeking new partnerships to grow the sector across the country.
See: Incubella Publishes Research on the 2022 Canadian Web3 Landscape
Key Findings
- Web3 is no longer a nascent industry; it has a significant impact on the economy and workforce.
- 276 of Fortune 1000 companies are focusing on Web3 R&D.
- Since 2008, the Web3 industry has created over 200,000 jobs and received over $107 billion in capital investments.
- The U.S. is a hub of blockchain innovation, with more than 5,700 Web3 related startups launched since 2007.
- Federal government investment in blockchain is steadily increasing.
National Takeaways
- Enterprise applications of Web3 are gaining traction in sectors like finance, technology, retail, media, and healthcare.
- The Web3 industry has created 30 unicorns and 257 exits since 2008.
- Regulatory clarity and support correlate with increased investment.
- Government is a growing adopter and funder of Web3 R&D.
Read: Canadian Government Publishes Report with 16 Recommendations: Calls for a National Blockchain Strategy to Support Adoption and Industry Growth
State-Level Insights
- California, New York, Florida, and Texas are home to 61% of all startups in the industry.
- Smaller states like Texas, Georgia, Delaware, Nevada, Wyoming, New Jersey, and Utah are making significant impacts.
- Notable single-industry players include Tennessee (healthcare), Nevada (gaming), and Maryland (Government).
Access the full 107 page PDF report --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Animoca Brands’ $30M Investment in Hi: NFTs and Web3 Meet Finance With Customized Debit Cards
Investment | Aug 4, 2023
Image: Hi
Metaverse gaming giant Animoca Brands has invested $30 million into the crypto 'Super App' hi, marking a significant collaboration that aims to amplify NFT utility in the financial industry, launch customized debit cards with Mastercard, and drive positive impact for the broader Web3 ecosystem.
Front Runners
- Animoca Brands: Best known for its popular Ethereum-based metaverse game The Sandbox, Animoca Brands is a front runner in the gaming and metaverse space. Its investment in hi signifies a strategic move to leverage its ecosystem's tokens such as SAND, EDU, APE, REVV, GMEE, and others through hi Debit Cards.
- Hi: As a web3 neobank, hi is emerging as a leader in the crypto space, with close to 3.5 million users. Its collaboration with Animoca and Mastercard, along with the development of the hi Protocol, positions it as a key player in the integration of web3 with traditional banking.
See: 10 Most Innovative Companies in 2023: Blockchain, Crypto, Metaverse, Web3
- Mastercard: By partnering with hi to customize credit cards with blue-chip NFTs, Mastercard is taking innovative steps in bridging the gap between traditional finance and the crypto world.
Amplifying NFT Utility in the Financial Industry
- Animoca Brands, a Metaverse gaming conglomerate, has invested $30 million in the financial app hi, aiming to enhance the NFT utility in the industry. This significant investment is a clear indication of the growing opportunities in the integration of NFTs with financial services. Animoca's established presence in Latin America could potentially open doors to new markets, further expanding the reach of hi's products and services.
- Hi made headlines by teaming up with Mastercard to launch debit cards customized with renowned NFT collections like CryptoPunks and Bored Apes. This world-first product is set to be shipped later this quarter, opening up new avenues for personalized financial products.
- The hi Protocol, a layer-2 solution for Ethereum, is being developed to provide a unique mechanism for authenticating humans, likened to a "Google login for Web3." This innovation aims to ease the transition between fiat and digital assets, making it more user-friendly.
Conclusion
- The collaboration between Animoca Brands, hi, and Mastercard is a testament to the burgeoning opportunities in the intersection of cards and web3.
See: Ninepoint Unveils Web3 Innovators Fund
- From customized debit cards to the development of unique authentication protocols, these front runners are paving the way for a more integrated and user-friendly crypto ecosystem.
- The $30 million investment by Animoca Brands into hi's Super App is a significant milestone that signals the growing confidence and potential in this space.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Harnessing Decentralized Finance to Combat Climate Change: A New Era of Sustainable Finance
Video | Jul 21, 2023
Image: Solid World website
In an era where climate change poses significant threats to our planet, innovative solutions are more crucial than ever. One such solution lies in the intersection of decentralized finance (DeFi) and climate change mitigation.
DeFi is revolutionizing approaches to climate change solutions, delving into innovative financial models that promote sustainability while creating new opportunities for investment in a greener future.
Stenver Jerkku, the CEO of Solid World, is at the forefront of this revolution. With a background in urban space and venture-backed tech businesses, Jerkku is now focused on building capital markets to solve climate financing. His current venture, Solid World, aims to tackle the significant issues in the carbon industry, particularly in the voluntary carbon market which is primarily driven by investor pressure to decarbonize portfolios.
Companies are encouraged to reduce their emissions, but to become entirely carbon neutral, they often resort to carbon credits in the voluntary carbon market. These credits involve paying someone else to reduce their emissions or sequester emissions out of the atmosphere.
However, the carbon market faces significant challenges. The current market structure is nontransparent and unstructured, making it difficult for companies and investors to navigate. This lack of transparency and standards is holding back capital and preventing the market from reaching its potential.
To address these issues, Solid World is working on creating standards and transparency in the market. They have developed a risk due diligence framework for evaluating projects and are planning to open-source their underwriting methodology. Additionally, Solid World is creating liquidity pools to structure and price different types of assets, making the market more accessible and understandable for investors.
Several other companies are also contributing to this regenerative finance world. For example:
- Toucan is working on making spot trading transparent
- SAS Global is using AI to predict climate disasters
- Open Forest Protocol is bringing real-time monitoring to nature restoration projects.
See: Alternative forms of capital will be key to develop sustainable economic systems
The intersection of DeFi and climate change presents a new era of sustainable finance. By harnessing the power of DeFi, we can tackle climate change more effectively, promoting sustainability and creating new opportunities for investment in a greener future. As companies like Solid World continue to innovate and push for transparency and standards in the carbon market, we move one step closer to a sustainable future.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Digital Identity in the Age of Web3: Empowering Individuals, Transforming Organizations
FFCON23 Discussion | Jul 19, 2023
Image: Unsplash/Vadim Bogulov
In the rapidly evolving digital landscape, the concepts of Web 3, blockchain technology, and digital identity are becoming increasingly significant.
These emerging technologies hold the potential to revolutionize the way we handle identity verification, offering enhanced privacy, security, and user control over personal data. However, the journey towards this future is not without its challenges. From balancing user experience with robust security measures to navigating complex regulatory frameworks, there's a lot to consider.
In this article, we delve into a recent panel at FFCON23 discussion titled "The Future of Identity Verification in the Age of Web 3" where industry experts explore the opportunities and hurdles in this space. We'll unpack the potential of decentralized digital identities, the role of blockchain in identity verification, and the implications of these technologies for both individuals and organizations.
Unlocking the Potential of Decentralized Digital Identities
One of the key highlights of the panel discussion was the promise of decentralized digital identities. With Web3 and blockchain technology, individuals can have greater control over their personal data, ensuring privacy and security while interacting in the digital realm.
See: Digital Identity Should Be A Big Business For Banks
The concept of portable and reusable identities gained traction, envisioning a future where individuals no longer need to carry physical documents like passports or driver's licenses. Instead, a secure digital identity stored on the blockchain could serve as a universal proof of identity, revolutionizing traditional verification processes.
Balancing User Experience and Security
While the potential of decentralized digital identities is enticing, the panelists also emphasized the need to strike a balance between user experience and security. Designing user-friendly interfaces and seamless authentication processes is essential for widespread adoption. Simultaneously, robust security measures must be in place to prevent identity theft, fraud, and unauthorized access. The challenge lies in finding innovative solutions that ensure a frictionless user experience without compromising security.
Navigating Regulatory Frameworks
The implementation of decentralized digital identities necessitates navigating complex regulatory frameworks. Panelists discussed the importance of building trust between individuals, organizations, and governments while establishing the right frameworks for digital identity verification. Regulatory compliance plays a crucial role in protecting personal data rights, mitigating risks, and fostering a safe and transparent digital environment.
Exploring the Role of Blockchain
Blockchain technology emerged as a catalyst for enabling decentralized digital identities. It provides a secure and immutable ledger that can verify and validate identity information without relying on centralized authorities. Blockchain's decentralized nature ensures transparency and reduces the risks associated with storing sensitive personal data in a single point of failure. However, the adoption of blockchain technology in identity verification requires collaboration among stakeholders, including governments, technology providers, and industry players.
Implications and Future Outlook
The panel discussion underscored the potential of Web3, blockchain, and decentralized digital identities to reshape the future of identity verification. The seamless integration of these technologies has the potential to enhance privacy, security, and user control over personal data. It opens up new avenues for innovation, empowering individuals to monetize their data while maintaining data ownership and control. However, challenges remain, including the need for widespread adoption, regulatory harmonization, and industry collaboration.
See: Digital Identity Protection is Critical for Metaverse Innovation
As we venture into the age of Web3 and embrace the possibilities of decentralized digital identities, the future of digital identity verification looks promising yet complex. While Web3 and blockchain offer exciting opportunities, their successful implementation requires addressing challenges related to user experience, security, and regulatory compliance. By harnessing the potential of these technologies and fostering collaboration among stakeholders, we can build a future where digital identity verification is seamless, secure, and empowers individuals to control their digital presence.
In this Video
This video is for anyone interested in digital identity, blockchain technology, and the future of privacy and security. It's particularly relevant for professionals in the tech industry, policymakers, and anyone interested in the intersection of technology and privacy. 🎯
- Moderator: Anna Niemira: Head of Partnerships Strategy and Innovation at Lambert & Co.
- Speaker: Erik Zvaigzne: VP Product Innovation at Convergence.Tech
- Speaker: John Gruetzner: COO at Syngrafii
How can Web 3 and blockchain technology revolutionize identity verification? The video discusses the potential of Web 3 and blockchain technology in creating a new layer of digital identity that enhances privacy and security. It explores how these technologies can be used to create portable and reusable identities, reducing the risk of identity theft and fraud.
Read: Blockchain Use Cases in Digital Identity
What are the challenges and opportunities in implementing decentralized digital identities? The panelists discuss the challenges in implementing decentralized digital identities, including technological, regulatory, and user experience considerations. They also discuss the opportunities that these technologies present, such as the potential for individuals to monetize their personal data.
How can governments and organizations prepare for the changes brought about by these technologies? The video explores how governments and organizations can prepare for the adoption of these technologies. It discusses the importance of building trust frameworks, governing who can participate in the system, and determining what constitutes an acceptable proof token. It also touches on the need for regulations and policies that protect personal data rights.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Crypto Bill 2.0: Lummis-Gillibrand’s Vision for a Regulated Crypto Future
Coindesk | Jesse Hamilton | Jul 12, 2023
Reintroduction of a crypto oversight bill by Senators Cynthia Lummis and Kirsten Gillibrand, proposing a less prominent role for the U.S. Securities and Exchange Commission (SEC) in crypto regulation.
Instead, the bill suggests that the Commodity Futures Trading Commission (CFTC) should oversee crypto exchanges, and stablecoin issuers should be regulated depository institutions. The bill also outlines a clear distinction between securities oversight and other forms of oversight, a move that has been long-awaited by the crypto industry. The proposed legislation also includes provisions for customer asset segregation, new risk-management standards for crypto lending, and regulations for decentralized finance (DeFi).
See: SEC Asserts DeFi is Caught Under Securities Rules, Reopens Proposal to Widen Definition of Exchanges
- The bill proposes that the CFTC should oversee most crypto tokens and crypto trading, with both the CFTC and SEC receiving equal funding and having an equal role in a new self-regulatory organization (SRO) for crypto.
- The legislation suggests the creation of a separate organization to govern industry standards and impose penalties for violations, described as the "consumer protection and market integrity authority."
- The bill also includes provisions for customer asset segregation and new risk-management standards for crypto lending, including a ban on "rehypothecation," where crypto firms use customer assets to extend their own credit.
- The legislation proposes that stablecoins can only be issued by federally or state-regulated banks or credit unions, with existing issuers given priority for new licensing.
- The bill also includes a definition for DeFi and sets strict rules for when a software project becomes a more centralized business effort and needs to be registered as an exchange.
See: Bloomberg Invest: Banking and Blockchain Conversation with Former SEC Chair Jay Clayton and Dan Morehead of Pantera Capital
Georgia Quinn, general counsel of Anchorage Digital (sole digital asset bank with an OCC charter)
While the Lummis-Gillibrand proposal is a major step forward from the Senate, we will also be watching the House for any movement on stablecoin and market structure bills.
View more --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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BIS Publishes Report Highlighting the Key Elements and Risks of the Crypto Ecosystem
Report | July 11, 2023
The Bank for International Settlements' report provides an in-depth analysis of the crypto ecosystem, highlighting its key elements, inherent structural flaws, and associated risks, while discussing potential strategies to address these challenges.
- The Bank for International Settlements (BIS) submitted a 30 page comprehensive 'Crypto Ecosystem' report to the G20 Finance Ministers and Central Bank Governors in July 2023. The report delves into the intricate workings of the crypto ecosystem, highlighting its key components such as Bitcoin, blockchain technology, stablecoins, and decentralized finance (DeFi). It also underscores the inherent structural flaws and risks associated with the crypto ecosystem, including fragmentation, congestion, and the need for borrowing credibility from sovereign money.
Structural Flaws and Risks
- The crypto ecosystem suffers from inherent limitations of permissionless blockchains that lead to fragmentation of the system, accompanied by congestion and high fees.
- The BIS explains that the limitations are not technological but rather stem from incentive structures.
- Validators must be incentivized through sufficiently high monetary rewards to report truthfully and sustain the system of decentralized consensus. This leads to congestion and high fees, making crypto-based payment systems comparatively slow and expensive.
- Despite the original ethos of decentralization, crypto and DeFi often feature substantial de facto centralization, which introduces various pain points. A prime example concerns stablecoins, which piggyback on the credibility of the central bank’s unit of account and may pose risks to monetary sovereignty.
- The report identifies several risks within the crypto ecosystem, including risks to market integrity, consumer protection, and privacy.
- It also highlights risks specific to DeFi arising from the interconnectedness with the traditional financial system.
- For instance, DeFi activities almost exclusively involve exchanging one stablecoin or crypto coin for another, and do not finance activity in the real economy. This self-referential system is mostly used for speculation in coins, posing substantial risks to investors, especially retail investors.
See: BIS Publishes Report on Options to Address Crypto Risks: Ban, Contain, Regulate, Or?
Addressing the Risks
- While it doesn't provide specific solutions, it implies that regulatory oversight and consumer protection measures could be part of the approach.
- The report also identifies data gaps that currently hinder monitoring of the crypto ecosystem. It suggests that addressing these data gaps would be crucial for understanding and managing the risks associated with crypto.
Conclusion
The BIS concludes that despite some elements of genuine innovation, the inherent structural flaws of the crypto ecosystem make it unsuitable to play a constructive role in the monetary system.
Download the 30 page PDF report --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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