FINTECH FRIDAY$ (EP23-Feb 1): Getting Smart About Crypto and Insurtech Snapchat Models – Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange

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NCFA Canada | Feb 1, 2019

FF EP23 Justin Hartzman Banner1000 - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange

Ep23-Feb 1:  Getting Smart About Crypto and Insurtech Snapchat Models

About this episode:  On this episode of the Fintech Fridays Podcast, our host Manseeb Khan sits down with Justin Hartzman the CEO of Coinsmart. They chat about education the average Canadian on crypto, the future of digital wallets and the new wave of insure-tech. Enjoy!
  • Move over bear, OTC markets are biting at the bit
  • Supporting Canadian entrepreneurs and awesome tech
  • The latest in insurtech snapchat models

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest: JUSTIN HARTZMAN, Co-founder and CEO, Coinsmart

JUSTIN HARTZMAN BIOCoinSmart is headed by Justin Hartzman, Co-Founder and CEO. A seasoned business leader and entrepreneur, Justin’s passion for innovation has seen him lead numerous companies from start-up to successful exit. His proven track record of entrepreneurial success includes founding the first website brokerage exclusively serving online businesses, pioneering the industry and achieving over $100M in transactions to Fortune 1000 companies, PE firms, family offices and venture funds. He has also led multiple fundraising rounds working with Canadian and U.S. Angel Investors and VCs.   In addition to leading CoinSmart, Justin is also co-founder of​ ​ Needls​ , an Ontario-based company that uses Data Science to automate social media advertising processes for small to medium enterprises worldwide.

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Transcription of Interview

Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.

Manseeb Khan: Hey everybody Manseeb Khan here and thank you for tuning into another episode of Fintech Fridays. Just before we get started in this episode, I just want to do a little bit of housekeeping here. I just want to announce that we're super excited here at the NCFA to be launching the 5th Annual 2019 fintech financing Conference and Expo better known as FFCON19 which is going to be happening on April 3rd to 4th in Toronto Canada. FFCON19 is an immersive two-day conference and expo featuring high growth startups, emerging technologies, regulation, game changing projects, the latest trends, deal flow and investment opportunities. This year's theme is fearless with so much global risk in the air U.S. vs. China, Canada and China, Brexit, fintech industry adoption challenges, startup funding challenges, scaling issues FFCON19 is empowering companies with everything they need to build an amazing next generation business right here in Canada taking them global to show off to the world. We're launching it this week and registration and partnership opportunity will be opening up soon so stay tuned and get involved

without any further ado here's Episode 23 of the FinTech FRIDAY podcast with Justin Hartzman the Co-founder and CEO of Coinsmart. Justin thank you so much for sitting down with me today. I'm super excited to jump right into today's conversation.

Justin Hartzman : Absolutely me too. Thanks for having me. Hopefully  I can give some good information be useful everyone. So, Shoot away.

Manseeb Khan : Yeah, I know for sure. So just for the audience for the five or six people that may not know essentially who you are and essentially what your company does could just give us a quick rundown of who you are and what Coinsmart is?

Justin Hartzman : Coinsmart is one of the largest Canadian exchanges out there for purchasing cryptocurrency. We have a vision our company to make cryptocurrency accessible not only to those who are currently in the market but people who are looking to come to the market. So, for the people who are there ensuring that we have the best tools, the best support wide coin selection we're actually getting some new coins in the next few weeks. So, they can come and have a really good experience on ramping/ off ramping and actually trading here in Canada. We also run a very large OTC desk. But on the other side of things is to make it accessible to those who want to know more about it. But really have a hard time understanding because a lot of technicalities that go into purchasing, holding, storing, cryptocurrency and we really want to make it as easy as possible for you guys out there. So, you know live 24hr  for support for people. We have a great get smart section we call it that's not just a blog guide on how-to’s. We're always there to help anyone any way we possibly can.

Manseeb Khan : That's incredible I mean like one thing. I mean doing the show and just reading all the blogs and articles is the education is definitely going to be the key when it comes to this whole new crypto wave because I mean you know Joe Six pack definitely wants to get into crypto and to understand a little bit more but there's a lot of technical jargon out there. A lot of just words and terms that may go a lot over their heads and just not know.

Justin Hartzman : Well that's the case and we noticed that really early on even when I got into this years ago. I come from the tech side of things if it takes me reading an article two or three times or like the white paper from Satoshi  myself how do we expect anybody other regular Canadian how may have some level of technology background but it's more just an everyday Joe that you're saying. How can we expect them to? So, what we've done knowing that is you know get smart section, so I'll bring that up again here probably a few other times we break down these heavier articles or terms into three levels smart, savvy and expert. I believe are smart savvy and something where you can read it at your level. So, if you're getting into the game, we'll break it down to his easiest, limited form. If you want to keep up in your game go to the next level and the third level you're filing where you're getting really technical into the pieces so we're allowing anyone from know nothing to know everything come in here and really understand it at their speed, at their time hopefully getting all the resources they need to keep up.

Manseeb Khan : That's awesome. I mean I love that getting into the game and leveling up a game I love that. So, I mean you probably got this question more times than you count. So, what makes you guys so much more different to say like the Coinsquare's out there?

Justin Hartzman : Well we love the guys at Coinsquare but realistically where we stand out above all is our user experience and our customer service our clients  service. Are smart grantee  we ensure that the same day we receive your funds the same day that we get your best to having you we have them done for you at that time we have actually live chats where you can actually speak with someone. These are all things that the other Canadian exchanges just don't offer. We know to bring this to the masses, which is what we all need as anyone as an investor in the person space is to bring the masses the market. So, we are really making and again back to our vision accessible. I think that is the key difference. Not only that we've simplified the rationale for not having to understand pairings. You can go from Fiat to any coin that we offer on our system. You don't have to pair it with natural pairing. We do all the background legwork for you. And we just believe that our interface our tools are simply easier and better provide more insight for our users.

Manseeb Khan : I love that. Like the fact that you guys are taking a lot of the heavy lifting a lot of the heavy burden when it comes to just getting into it because it's overwhelming in and of itself trying to get it to crypto exchange but it's an it's a headache if anything.

Justin Hartzman : Like we have instant verification. Who wants to go online and do a one level then get a follow up email then send in some pictures that have someone look at it and then maybe that day the next day, three days later, two weeks later and the hype of things? That actually get approved for in account. How's that very efficient? How is that fun? So instant verification you can actually go on net new client to us E-Verify, email transfer money, and make a trade literally within under 10 minutes. And we really want to make that accessible for everyone.

Manseeb Khan : That's yeah. That's incredible. So, I mean when it comes to crypto exchanges there's definitely going to be security risks. I mean recently in the news you're seeing all these crypto exchanges either just going under maintenance because of security risk or there's got hacked or whatever. What are companies like yourself doing to help mitigate security concerns when it comes to especially to newer customers?

Justin Hartzman : Well I'll give you some stats. Only 30 percent of our clients actually keep coin with us. The rest of them take them off into cold storage. So, we don't go first while 70 percent of the coins that our users or clients have.  Which is great. We love that we encourage that. We help people understand how to do that and coins are kept on our platform. We don't go into specifics like we don't expect anyone else to and what we are doing for our security measures because that obviously  gives it away a little bit. We have a secure in what we do on that side. Just the basic is not over 90 percent of our coins that users leave with us go into cold storage and that's just take off. Location not controlled by us. We use  A third party custodial services who holds them. So that there's no chance of anything happening. This is the same custodial services. The other biggest exchanges in the world use as well. That's what they're good at. So, we give them the ability and  it's very secure for us. We appreciate them as a partner.

Manseeb Khan : Wow that's just crazy 70 percent of coins on hold That's a very interesting stat right there. Yeah.

Justin Hartzman : Yeah. So, we thought to be completely different, we thought that maybe 20 percent of people would take it off because it's somewhat hard to set up a treasurer or ledger or a paper wall or a phone wallet. And then we expected the complete the opposite. But it turns out that 70 percent of our users almost instantly or within 24 hours. Take that off and move it to their own storage.

Manseeb Khan : That say that's crazy. I feel like I just recently read  how digital wallets are becoming the new modern-day brokerage accounts because they're having millennials like me. They're trying to go as cashless as possible right. They don't want to be like walking around with like the dad wallet where it's all bulky, full of cards and cash and change and everything. So, it's that's crazy.

Justin Hartzman : And it makes sense . Listen I have I  don't know how long it's been  maybe 15 years I never had a wallet so I can still understand that. I don't like the bulkiness of it. Anything that I can do on my phone or you know with one card or multi cards is something I certainly look at doing all the time so I can appreciate that right.

Manseeb Khan : I mean like so like where do you where do you kind of see digital wallets evolving then. Because like it's definitely a very new trend. Hopefully I'll be here to stay. Where do you see it kind of going from here?

Justin Hartzman : Well I think if you look at it from a couple angles just adoption from the from individuals which we see happening based on what you just said more than that the mainstream adoption of the ability to use that in everyday use can I go buy at Starbucks? Starbucks did announce that they're going to be accepting cryptocurrency in sometime in 2019. Can you go and you know pay for your TTC fare here in Toronto, your subway fare with that? So, if you can start to do so most things you make available to you. They'll have more adoption, more use for. I think the other piece of that which a lot of people don't talk about or extend the conversation into is for that to also happen we have to think about some sort of currency which may or may not exist on the market in crypto space right now. That is a lot more stable, so you hear a lot more talking of the stable point over 2019/2020 because at the end of day I don't want to know I have let's say this for say numbers sake say I have 50 bitcoin and it costs me a quarter of a bitcoin to buy Coca-Cola. I don't want to go the next day. It cost me entire bitcoin when I know it was worth to me because so when you have  something that's more stable. We always know that one to one is what it looks like. We can have a lot more interest in wanting to spend that because it's that gambling mentality that all of us have somewhere in us. If it's a dollar today but it could be worth three dollars tomorrow. why am I spending it today sort of thing? So, we have to have that stable coin which is what it's going to drive the you know the digital wallet and then the mass adoption has to be there. If there's actually a place they can spend it in the real world. So those are my 3 pillars.

Manseeb Khan : I mean just kind of furthering trying to hash out the full stable coin thing. What are the challenges and  what's kind of uphill battle looking like when it comes to like a stable coin? Like the whole draw towards crypto currency and the whole draw towards. I mean I'm even tied up over the blockchain is the fact that it's not tied to anything, it's free like it's just in the ether right.

Justin Hartzman : That that's exactly the point. I don't have the answer. I don't know if anyone does that or I'm sure that their tons of people working on it. We don't know what that's going to look like, and we don't know where it's going to come from, and I think that's the whole rationale of why we're not. You know you look at the you know the S curve of adoption where before the curve even starts going up it gets into its inflection point because I think we're still very early and we haven't figured out all these pieces. But I think we'll see over the next year or two years some of these come to fruition and I guess at the end of the day what that has to be backed by. What's your question? Maybe it doesn't. Maybe it's just something that we know as one to one because the block chain says it's one to one that we can take in and out. So, it's not tethered to something specific, but it is stable. So, I don't have a really good answer for you. I think it's something that we're going to spend time thinking about. But I think there's someone out there trying to solve that right now.

Manseeb Khan : No that's totally fair. I mean who knows when the next year or two we might find something even better than maybe tying actual fiat or even just gold. We  might figure out a way to make it truly one to one and we don't really worry about it. It could still be what we'll set up to be right. I mean switching gears. Like where do you see the evolution of cryptocurrency exchanges looking like?

Justin Hartzman : Well listen it's been a tough almost more than a year right now in this bear market. We saw a lot of fever December 2017 November, December 2017 to January 2018. We need to see prices start stabilizing up over that five six seven eight-thousand-dollar mark and at that point. I think you will realize this is here to stay. And when I say that with Bitcoin because Bitcoin is essentially the forerunner in this, everything is pinned to that essentially at this point. So, I don't make any predictions on pricing because I think that would be wrong. It's not really a position for me to be in that I do see brighter days ahead. Can everyone hold out for that and believe it until that time. That's something we'll have to wait and see. Right now, it's a topic that a lot of people ask me about. But what's going on about the Canadian exchange we see a lot of the exchanges here in Canada shut down, close doors, disappear even as recently as a couple of days ago. One of our friends out west went down for maintenance. Never came out of maintenance. It's not good for the sentiment of the market for our market to grow and continue to go where we hope it is. I really believe that cryptocurrency should be part of anyone's well balanced investment portfolio out there and we'll be as a new asset class looking for things like you know that company shutting down. I don't want to mention their names not nice I hope everything's OK with them it doesn't add any positive sentiment or trust to the market for us to go we need to have trust. So, we think that we need to see what I hope to see over this next 12 to 18 months is regulation common. People get scared about that, but I don't you know we fall as well as we possibly can. What does or does not exist out there today. And if we have a body covering over this regulation on it, we get. Yeah. People can feel more confident that they're going to have the issue like we've seen in the past. I think that's a positive thing for our marketplace.

Manseeb Khan : When it comes to regulation and regulations definitely term that gets thrown around a lot. I mean I like an ideal world. Let's talk hypotheticals theory in an ideal world what are these regulations looking like to you to give Canadian crypto currencies a fighting chance at least.

Justin Hartzman :  Well I think Canada is so far is a pretty crypto friendly country and I hope it stays that way. You know we do it very legitimately, we have proper banking partners. We don't hide anything that we do out there. We get asked questions by the powers to be that exist out there at the OSC and we answer them, we provide all detail. We know we're a Fintrac company on our side. So, we report to Fintrac where need to be if there's any suspicious activities. We more of that out there. We need someone who's the governing body to watch over those not nefarious or shady characters opening up exchanges and taking people's money or not custodial servicing properly or you know being part of transactions that shouldn't be occurring cross-border. So those things if there's people in place with those rules or whatever the government body looks like which probably is the OSC here. Well it is right now it should be the OSC here in Ontario. It's a wait and see game right. We're going to follow a lot of rules what happens in the US and I think the US will be sort of the dictate what we see next.

Manseeb Khan : I'm glad Canada's actually as crypto friendly as it is. I mean a lot of people might not think about it actually like when you start reading into it and  actually getting to know some of the key players. Thankfully Canada has a lot more crypto friendly than it usually is being how conservative Canada has been in its traditional past.

Justin Hartzman : Absolutely. We need we need that. Say we have an opportunity to be at the forefront. You're doing another space in technology like A.I. where we're a hotbed for A.I. right now. I love about space as well. I play in it. And as Canada you know we're a great country with smart people. We've a lot of people who want to do great things. But what we don't are the billion-dollar businesses because our market is really small here in Canada. So, we need to support those businesses and these cryptocurrency and new technologies and AI the best that we can to start creating these billion-dollar enterprises are from Canada into the US and Europe and Asia and really take the next level and put us ourselves on the map. So, it's something that anyone in the technology community which I happen for 20 plus years. You know something. I've sold three other technology companies prior to running this. I love it. And we need to support it. And you know everyone has to do their part in that space.

Manseeb Khan : Yeah. No. I mean I can agree with you. Yeah, we really don't have a billion-dollar company in Canada and  it's kind of a shame because like the space and just like even just the fintech space and the crypto space and just like these new emerging spaces in Canada we have a lot of very bright, very talented people here. But sadly, we don't have the infrastructure as of yet to really keep them. And have like the next Google the next Facebook just out of Toronto or Waterloo yet.

Justin Hartzman : Well yeah to that point we see all those companies coming up to Canada for our talent but to be frank with you we are a technology company at the heart of things. You know. Fintech or not it's technology that runs this. It is a super competitive market. There is a war on talent. And what we're lucky is we don't see as many people running to the US to those jobs at Google anymore because a lot of them that do exist here and a really big startup community where people get their feet wet into these awesome companies and get their equity and all those pieces. We actually need to start bringing and I've seen this a lot we a lot of people from Brazil and other places around the world coming to Canada bringing their expertise here. So, if we could have people migrate to where we are where all this action is happening and bring other smart folks here you seem to be keeping good ones, but we need more. We don't have enough at this point. So, we need our supply to go up for sure.

Manseeb Khan : Yeah. No that's just totally fair. I mean I think it's like once we have an ecosystem once we have, I guess better foundations to support multi-million/ billion-dollar companies then I think talent's just going to pool in. Like you're going to have people from Brazil people from overseas saying hey wow Canada is an actual player and a force to be reckoned with. Why  the heck not work for Coinsmart I mean they're killing it, they're doing X Y and Z in the market. I love to be a part of that. That's something I could definitely  myself being a part of.

Justin Hartzman : Yeah. Breaking news Quadriga just put out a brand-new message 12 seconds ago of a file for creditor protection in the Nova Scotia Supreme Court. So that's big bad news here in Canada. That's not what I want to hear. I'm sad to be reading that. Well they are a competitor. So, I want to see this success of the market and this is definitely not helpful for that. You know we just talked about that earlier.

Manseeb Khan : Yeah. Oh, that's wild. That's crazy timing. I mean what you said about in 2019. I mean like it's a brand-new year.

Justin Hartzman : I'm super excited by the OTC space and the large financial institutions getting into it. We see some great stuff happen at the end of this year. It's coming out now on the custodial services for institutions and as institutions come to this market, they'll be investing in it. People will know about it more because traditional investors will see it as part of their portfolios and have an  option to buy through those which I think is going to drive more positive sentiment more trust the markets. I think that's a really big piece having them come in here. OTC there's a lot of opportunity for large desks around the world to move heavy amounts of coins. So, I think that's exciting for us, we're playing a role in that right now, connecting great deals and AI obviously playing a big role. And you know we deal with some partners where we can look at how we hedge coins coming in or not much more if we're not matching them or catching them. So, we look at those pieces, can we in Canada as regulation comes offer things like automated financial products much like a Wealth simple can we do that in the crypto space. Understanding based on artificial intelligence. What your risk tolerance is knowing that your risk tolerance can get you to a bucket of crypto currencies that's managed by  AI to give some great results for you in the long run. So, a self-managed driven bucketed goods of ETF funds that I think is something that's really exciting for us as we move forward. Wealth simple you know very respectful company. I went to school with Mike the CEO there I think he's a great guy. Good buddy. They've done something great and they've helped bring a lot of millennials to the market by going Hey you know housing is a little too expensive for us until we can afford that or if we decide not to afford that. We want to be investing. But traditional investment house you're going to your bank or some things that you're doing doesn't really know anything. It's not our way of doing it. If I could go on my phone and answer a couple of questions and know that my money is being managed the appropriate way using, you know proper managers as well as artificial intelligence. That's so cool and that's everything that we're looking for. Can we bring the crypto space?

Manseeb Khan : I mean like just think of it as more of like a lazy perspective of the fact that you have to actually go to a bank, book a meeting wait for your broker to actually sit down with you and then kind of go over it  with you. Like just that just so much like hey if I can do this in my underwear while  making coffee. Why the heck. What an odd design.

Justin Hartzman : Yeah, it's not even that like you know you go in to. Yeah. I don't know people realize this. This is the same thing you talk about social media marketing. I'll talk about that afterwards, but you go into your bank and you set up an appointment with a quote unquote investment professional. What made that person an investment professional? That's someone who's a year out of school. They're trying to do something they're offering products at just the bank has available to you which are clearly well I don't see clearly not but not the best investments that I'm sure you could find better if you find some to help you with that. That's not really what you should be doing. And then the alternative is going to a professional who's been doing this for a long time and manages huge amounts of money but there's a significant cost to that. At the same time which you don't want to bear. So, this technology is the longest offers you got from going from someone who knows nothing to the people who know a lot. You know not clairvoyant but know a lot and bring it to everyone. I think that's really key.

Manseeb Khan : I mean you briefly touched on the social media aspect, but could you expand on that.

Justin Hartzman : Well it's just a social media side of things when I mentioned the same thing. You can go to a social media management company but if unless you have the biggest budgets or you're the biggest brand out there again they're putting on you they're fresh out of university student who's come on to manage your account to answer the phone call for you but they don't manage billions of dollars in ad spend millions of dollars not spend it on all the levers to pull or what's going on. They're just they're doing a job. It takes time to get there. That's the whole point. When you're getting into a market anywhere where it's financial side or social media marketing you want the people who are taking all that amazing top level knowledge and distilling it down into an automated way for you somebody who didn't have access to that previously. So, I just see this as a very big parallel between those two industries.

Manseeb Khan : I love it. I mean look that's kind of where you're seeing challenger banks winning that battle right where you're having when you go to a bank. You definitely have a limited deck of cards that you're playing with comparatively if you go to a challenger bank and even taking it one step further going to open banking and start giving people more options. That's where banking gets really exciting. I mean it's an it's a very weird statement to say a banker getting excited but nonetheless that's  open banking is definitely where banking is going to get really exciting because customers are going to have that much more options to switch mortgage plans, to savings accounts may have.

Justin Hartzman : Yes, it's happening a lot right now in the insurance space like just going to your phone buying insurance plan. They want to see your car your car first you can take a picture of it. If something happens to your car you take a picture of it and show it off and you don't have to wait for the adjuster to come in. And they use A.I. to analyze how bad that was versus the same car that had a similar picture last time what it cost to fit all those technologies are really simple things. Well seeking the personal aspect of it well these don't need to be personal. I don't need to wait for 9:00 at night because adjuster in Toronto is busy after a small fender bender  for him to come to my house. Why wasn't that picture just sufficient? So, I'm totally with it. I am a big proponent of having technology make things easier across the board.

Manseeb Khan : Yeah. Insurance tech is definitely something  that not a lot of people talk about. I mean there's definitely starting to be a little bit more of a buzz like insurance tech. Yes definitely. I mean it's a rabbit hole that I would definitely want to discover more on the show.

Justin Hartzman : I love that space. I think is super interesting I listen to a lot of podcasts not specifically about insure-tech but startups and insure-tech and banking tech and fintech and AI obviously big things and Block chain right now. You know like you I was just listening to a great podcast with the CEO of Cover in the U.S. Only right now. But you know simple things like the fact that you have homeowner’s insurance or renter’s insurance you know you're renting somewhere you can pay your 20 bucks a month in case something happens. The fact that you can now take your phone buy it on there. Walk around your house just with a video camera on your phone show the TV that's on your wall, the kind of couch that you have. You know if you have any jewelry  or keepsakes show it on there. It's not a he said she said sort of game when the insurance companies are in business not to pay you. They don't want to you know if you have that 4k sixty-five-inch TV on the wall that you love that cost you four thousand dollars and you don't have a receipt for the can say no you don't have it. If you bought insurance this where you took that video and it's uploaded to your file right there in that app it just stops those problems. You know what it makes it harder for people who are doing nefarious activities like going like I had a 4k TV when they had a little 21-inch tube TV in their house who are scamming. Well good for him. We don't want those people scamming. They mess up everyone else's rates out there. Let's see what you have. Let's replace it with exactly what you had or better and let's all be on the same page. That's what helps everybody. Well it might screw people who are trying to look do things are off center. It helps the rest of us as the masses and I think that's a super important piece.

Manseeb Khan : Right. So, it was the name of the company that you just mentioned.

Justin Hartzman : It's called Cover.

Manseeb Khan : OK cool. I mean. Yeah. Take it take pictures at ensuring like you mention a bunch of jewelries. Instagram's definitely going to have a field day when it comes to knowing what the favorite rapper or artist through it you may have fake chains to try to do that.

Justin Hartzman :  I assume like hip hop. And we came on this call I heard you. This is some good tunes in the back.

Manseeb Khan : Yeah. Yeah. Just like I was like I put some a little bit of elevator music before I wait for you to jump on.

Justin Hartzman : I liked it. I appreciate that.

Manseeb Khan : What's the future of Coinsmart looking like in 2019? What's some of the challenges? What's that you guys are going to embark on that I guess some of the listeners and some of the people using Coinsmart to get really excited.

Justin Hartzman : Yeah, I think the future for us is to continue to make it accessible for everyone. Offer more ways to get your money on and off of our network or just super simple. Increased ability just like boots on the ground where they'll be in contact with us or see possibly store front locations. We're looking at expanding into other territories outside of Canada. So, whether that be Europe and Asia or wherever it may be right now. So, a lot of expansion across the board. We really want to make the easiest to use, most accessible, most robust platform out there without over complicating everything. So, there's a huge coin selection like which as I said we're adding six and seven more coins in the next five or six weeks. And then again just simplifying, simplifying simplifying while increasing the security in the background. That's what you'll see out of us over the next six to eight months.

Manseeb Khan : And you can't tell us what coins you guys are adding right?

Justin Hartzman : We can't yet. We have a long list than that were you. So, we have to look at a lot of stuff, it's not easy list. That's just put anything on. We have to understand as truly utility coin in all our security and if to run it through.  We have one-hundred-and-eighty-page guideline of how we determine if it goes on or not. But we have narrowed it down to six and we'll be spreading it out come online shortly and everyone wants to know but to stay tuned we're happy. We'll start out see shortly.

Manseeb Khan : Also, to wrap this up what would be the best way to either contact you or Coinsmart. Why do we e-mail you? Do we Snapchat? Do we tweet you?

Justin Hartzman : Yes. Also, I'm always available and my team is you know just go to coin smart dot com click on the live chat. You can chat there just do a support ticket or if you want to ask me a question or have anything you want to know. I put my email address for everyone. You can email me at me at J H so it’s my two initials Justin Hartzman.  So, JH at coin smart dot com also.

Manseeb Khan : Awesome So Justin thank you so much for sitting down today. We had I mean  I loved the conversation that we had today.

Justin Hartzman :  My pleasure thanks for having me. And it was useful to some people and gave some good info if you guys have any questions please feel to reach out to me guys. J H at Coinsmart dot com.

Manseeb Khan : I really hope they do because this is a very smart individual.

Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.

 

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NCFA Jan 2018 resize - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange 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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Coindesk via yahoo finance | Paddy Baker | April 9, 2020 Canadian investment manager 3iQ said The Bitcoin Fund, for which it originally filed a prospectus back in October, began trading on the TSX on Thursday. The fund works along the same lines as an exchange-traded product (ETP): investors purchase shares in the fund and receive exposure to changes in the underlying assets price over time. It tracks the bitcoin (BTC) price using an index feed co-developed by MV Index Solutions (MVIS), a VanEck Europe subsidiary, and cryptocurrency market data provider CryptoCompare. The fund is split into two types of shares, Class A, aimed at all types of investors, and Class F for institutions. Only Class A shars are being listed on the Toronto exchange. 3iQ president and CEO Fred Pye told CoinDesk the total value of Class A shares comes to approximately $14 million. See:  Fintech Fridays Episode 32: Rallying behind Bitcoin with Frederick T. Pye As with other ETPs, the key attraction is investors who either can't or won't buy the underlying asset can still add bitcoin to their portfolios. Traditional investors can also use the fund as a vehicle to become more familiar with the asset class ...
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3iQ fund lists on TSX - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Sifted | Isabel Woodford | March 25, 3020 A sector-by-sector analysis of what might happen to European fintechs during a downturn. Which are most at risk and which might profit? During the past five years, financial technology startups have been some of the most hyped, fastest-growing and best-funded in Europe. But as the coronavirus pandemic begins to weigh on the economy, fears are growing that financial startups will be hit hard, as investors invest less and consumer spending slows. Yet fintech is a broad sector, making it hard to generalise about the impact of coronavirus. So we’ve analysed how the different sub-sectors within fintech might fare in the short to mid-term amid virus shock and a potential recession. An overview: Fintech during coronavirus The graphic above summarises how each sub-sector will be affected by the coronavirus outbreak, according to an analysis by Sifted in collaboration with Finch Capital. Those marked in red are predicted to see a downturn, yellow indicates it’s a mixed bag and green means it will likely see a boost. Finch Capital Report:  Future of Disruptive and Enabling Financial Technology post covid-19 Our thesis is that digital banks, foreign exchange (FX) companies, wealth manager apps and small and ...
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Covid impact on fintech - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Finance Magnates | Rachel McIntosh | March 25, 2020 The paradigm shift that the coronavirus has caused will leave permanent marks on the fintech industry. Many countries around the world are hitting the 2- or 3- or even 12-week-mark of quarantine, and many are looking at just as many (or more) weeks of quarantine ahead. The virus has brought about a powerful shift in reality; in addition to the effects that the virus has had on our personal lives, companies in every industry are being forced to find new ways of operating on every level. In a way, the fintech industry has been presented with a kind of advantage–being a fairly new sector, fintech companies are already fairly well-positioned to adapt to a world that suddenly exists primarily online; most fintech platforms already exist in online formats anyhow. See:  Coronavirus Is Widening the Corporate Digital Divide Still, the paradigm shift brought about by coronavirus is forcing the fintech sector to come up with creative solutions to new and unprecedented problems when it comes to supporting customers, building relationships, boosting company morale, and planning for the future. Banks are suddenly relying on fintech companies more than ever Indeed, Paul Geiger, President ...
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new paradigm - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Roll Call | Chris Brummer | April 7, 2020 Fintech Beat sits down with Linda Jeng and Dan Gorfine to talk about how online lending, open banking and a digital dollar — with the right policies — could immediately improve the plight of those affected by the coronavirus. 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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Fintech beat podcast - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Forbes | Ron Shevlin | April 6, 2020 Microsoft and data aggregator Plaid announced a partnership to offer a service they’re calling Money in Excel. According to Plaid: “Money in Excel essentially turns the spreadsheet into a fintech app. It allows users to securely connect their financial accounts, import the data within them, sync balances and transactions over time, and, ultimately, gain greater insights into their financial health.” See:  With Plaid Acquisition, Visa Makes a Big Play for the ‘Plumbing’ That Connects the Fintech World Here’s how it’ll work: Plaid will provide a permissioned connection to financial accounts from within Excel. After linking their account(s), users will have access to their balance and transaction history. The tool will provide charts and graphs analyzing users’ spending in a “Monthly Snapshot” tab. According to Microsoft, the tool will also feature proactive alerts about price changes for recurring payments, bank fees, and overdraft warnings. Although there was no mention of fees by either Microsoft or Plaid, American Banker reported that Money in Excel will will cost $7 a month for individuals and $10 a month for families. The Good News: Competition in the PFM Space is Weak (For Now) The Bad News: Few ...
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Microsoft CEO - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Ledger Insights | April 6, 2020 A bulletin from the Bank for International Settlements (BIS), the body owned by 62 central banks, highlights cash concerns because of the COVID-19 virus. It states that perceived risks, valid or not, brings the potential for digital payments to the fore. And the BIS specifically makes a case for Central Bank Digital Currencies (CBDC). In recent weeks, internet searches have shot up relating to COVID-19 and cash, especially in jurisdictions that use small denomination banknotes. Additionally, research has shown that viruses can persist on banknotes. That’s based on past research relating to influenza and other viruses as well as more recent COVID-19 research, which show non-porous surfaces are better at transferring the illness. See:  Dirty money: The case against using cash during the coronavirus outbreak However, there are no proven cases of transmission through cash, and scientists found the risks are thought to be low compared to other frequently touched objects. The main risk for COVID-19 is thought to be airborne droplets. Plus, using cards at point of sale terminals also carries some risks, particularly PIN pads. In both cases, washing hands is important. Examples given of central bank actions include the Bank of England statement: ...
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covid 19 and cash - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Daily Fintech | Ilias Louis Hatzis | April 6, 2020 Decentralized Finance (DeFi) is building a new financial system. The DeFi movement is picking up steam. DeFi has been successful in remittances, loans, stable coins, and other core elements of the fiat world. With a little over a year under its belt, DeFi hit a major milestone a couple of months ago, with more than $1 billion in value locked in the DeFi markets. Bitcoin (BTC) dominates the cryptocurrency market, its 8x bigger than the Ethereum, the second cryptocurrency by market cap, but Bitcoin doesn’t have Ethereum’s sophisticated on-chain lending, derivatives, trading capabilities . While there are already several centralized BTC lending platforms like BlockFi/Nexo/Celsius. Bitcoin DeFi has been a dream for Bitcoiners. Maybe the dream is over and new tBTC project will bring Bitcoin to the DeFi world. Maybe it will do a lot more than that! Bitcoin could greatly transform DeFi and that is exactly what the team behind the Keep protocol understands. They recently raised $7.7 million, led by Paradigm Capital and other companies including Fenbushi Capital and Collaborative Funds, to launch a trustless platform for creating Bitcoin-backed tBTC tokens, on Ethereum. The tBTC platform extends on ...
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tBTC and Defi - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Pitchbook | Alexander Davis | March 24, 2020 After driving much of the venture capital market's hyper-growth in recent years, corporations are poised for a decisive stress test of their zeal for funding startups. Heading into 2020, it wasn't unreasonable to forecast another record year for VC financing involving corporate venture capital arms, such as those of titans Intel, Salesforce and Google. But that was before the coronavirus brought the world economy to a standstill. Turmoil spurred by the global health emergency has given rise to a new mantra for business decision-makers: Hit pause. Inside boardrooms of every stripe, countless investment decisions are either being postponed or subjected to fresh scrutiny. Companies are suddenly on guard as they struggle to take the measure of an unfolding economic disaster, in a challenge of their commitment to venture funding. "In that hunker-down scenario, all spending goes through a rigorous review, obviously," said Pradeep Tagare, head of the $250 million corporate venture fund at UK-based energy company National Grid. "One of the first things that gets hit is the venture capital part of it because that's an easy thing to step back on." Corporate VC departments make strategic bets on markets, innovations, partnerships ...
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Sanfrancisco - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Crypto Consilium | Austin Hubbell  | April 3, 2020 Capital Markets in the Digital Asset Era", with speakers representing Asset Management, Exchange, Lending, Custody and Data & Technology. It's a 1-hour event that's focused around the current state of the industry and what needs to be done to move digital assets into the mainstream institutional capital markets world. Online Event Date and Time Wed, April 8, 2020 6:00 PM – 7:00 PM EDT Price:  FREE Register on eventbrite:  here Moderator Michael Rabkin, Head of Institutional Sales & Head of Global Partnerships at DV Chain & DVeX Speakers George Bordianu is the co-founder and CEO of Balance Austin Hubbell is the CEO and co-founder of Consilium Crypto Adam Reeds is the Co-Founder & CEO of Ledn John Willock is CEO and co-founder of Tritum Digital Assets Shaun Cumby is the Chief investment officer of 3iQ Register for this event --> Now 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 ...
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capital markets in the digital asset era event baner - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
UNCDF | Jia Wei Khor | April 2, 2020 APEC Malaysia, Bank Negara Malaysia (BNM), Malaysia Digital Economy Corporation (MDEC) and United Nations Capital Development Fund (UNCDF) launched the Gig Economy Challenge. The challenge is funded by MetLife Foundation through the i3 (Innovate, Implement and Impact) program. In light of COVID-19, gig workers are likely to face new and unforeseen challenges which will affect their financial health. Calling for applications to seek viable solutions for improving the financial health of gig workers in APEC's (Asia-Pacific Economic Cooperation) 21 member economies. If you have a solution, apply now! See:  Malaysia’s potential as the fintech hub for the ASEAN region Why participate? Technical assistance worth $100,000 to pilot your technology product or service Up to $30,000 grant per team as seed capital Opportunity to pilot the solution in Malaysia Access to enabling partnerships, including financial institutions, technology companies and other infrastructure providers Questions? Join the info sessions!  Click below to register 7 April (Tue) 11 am ( GMT +8) 14 April (Tue) 10 am ( GMT +8) 23 April (Thurs) 11 am ( GMT +8) Where can I know more?:  www.bit.ly/GigEconomyChallenge Application Deadline:  27 April 2020 Contact finlab@uncdf.org The National Crowdfunding & ...
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Gig economy challenge - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange

 

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