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

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.

Coinsmart logo 300x143 - 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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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.

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End of Podcast

 

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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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Yahoo Finance | VeChain Release | June 25, 2019 BEIJING, June 25, 2019 /PRNewswire/ -- On June 25, in combination with Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co., Ltd., and VeChain, the Walmart China Blockchain Traceability Platform, built on the VeChainThor Blockchain, was announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar. This seminar was jointly organized by Walmart China and the CCFA in Beijing. The announcement of the Walmart China Blockchain Traceability Platform came with the introduction to the first batch of 23 product lines that have been tested and launched on the Platform. The Platform is expected to scale by another 100 product lines by the end of the year covering more than 10 product categories including fresh meat product, rice, mushrooms, cooking oil, etc. It is expected that the Walmart China's  traceability system will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020. See:  Q&A: Walmart’s Frank Yiannas on the use ...
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walmart and vechain food safety - 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
Crowdfund Insider | JD Alois | June 20, 2019 The Securities and Exchange Commission (SEC) has published a statutory report on Regulation Crowdfunding commonly referenced as Reg CF. The mandated report must be forwarded to Congress three years after Reg CF rules became effective (May 2016). Reg CF is the smallest of three federal “crowdfunding” exemptions allowing issuers to raise just $1.07 million from both accredited and non-accredited investors. According to the report authors: “the number of crowdfunding offerings, as well as the total amount of funding during the considered period, was relatively modest.” The report tallies activity under Reg CF from May 2016 to December 31, 2018. At the end of the period, there were 45 active Portals and 9 Broker-Dealers which had participated in at least one Reg CF offering. See: $5 million Equity crowdfunding extended to private companies Early-stage Investing – The Public gets a Seat at the Table Three platforms accounted for two-thirds of all initiated offerings and proceeds raised. SEC: the number of #RegCF #crowdfunding offerings, as well as the total amount of funding during the considered period, was relatively modest Click to Tweet According to the SEC: Between May 16, 2016, and December 31, ...
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RegCF SEC report - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
Chambers Pivot Industries | Greg Chambers | June 20, 2019 "All I need is an investor, and I’m ready to go," she says. I'm sitting in front of a passionate entrepreneur who knows I've successfully raised millions of dollars for various businesses. After hearing her story, what I'm about to say won't be what she wants to hear, but it's true. Funding isn't her problem. There's more money out looking for a home than there are good ideas to fund. The problem, I tell her, is she hasn't decided if she wants to build a company or master the growing seed and startup capital environment. Lessons from the past I was in her seat in the late 1990s shopping my big idea from investor to investor. Eventually unsuccessful, I was forced to abandon my startup and find a job. I took two big lessons from that experience. One is that if I wanted to get a company off the ground, I needed to get much better at selling a vision to investors. Second, based on the questions the investors were asking, I needed far more evidence from customers that my idea was the right one before they’d invest. Years later, ...
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hunter to prey - 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
Luge Capital | Karim Gillani | June 2019 Intro:  NCFA Fintech Confidential spoke with some of Canada’s experienced fintech investors, on their background, how Canada has evolved, what we should be doing, advice to fintech founders and what keeps them awake at night.  This is part 1 of a 4 part series.   What is your background, and how did you come to co-found Luge Capital? Karim:  My background is in fintech, mobile tech, engineering, finance and strategy. Prior to Luge, I was at PayPal, leading M&A activities in Canada. I joined PayPal through its $890M acquisition of Xoom, a renowned cross-border remittance company, where I started the Corporate Development practice. I have an Engineering degree from the University of Waterloo, a Master of Finance degree from the University of London and a Master of Laws from the University of Toronto. Luge Capital was the byproduct of highly motivated LPs, and a recognition that fintech venture capital needed a kickstart at the early stages. David Nault and I co-founded Luge in early 2018 with a new model to seek out entrepreneurs in the US and Canada that not only had a drive to take over the world, but also built their ...
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luge capital - FINTECH FRIDAY$ (EP23-Feb 1):  Getting Smart About Crypto and Insurtech Snapchat Models - Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
CDL Team | June 18, 2019 The Libra Association announces a new initiative with the goal of increasing access to financial services and fostering financial inclusion around the world TORONTO, CANADA – Today, Creative Destruction Lab (CDL) – a not-for-profit seed-stage startup program – announces that it will be a Founding Partner of the Libra Association. CDL is keen to contribute to the success of the Libra initiative as the sole Canadian organization and academic institution in the Libra Association at present. The Libra Association will create Libra, a simple global currency and financial infrastructure that can empower billions of people. Libra will be built on a secure, scalable, and reliable blockchain; and it will be backed by a reserve of assets designed to give it intrinsic value. The Libra Association will govern the infrastructure and manage and evolve this new ecosystem. Libra will enable developers and businesses to build inclusive new financial service products for people around the world. See:  Facebook’s Libra Cryptocurrency: Everything We Know At this time, CDL is the sole academic Founding Partner of the Libra Association. The initial group of organizations that will work together on finalizing the association’s charter include: Payments: Mastercard, PayPal, PayU ...
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CDL libra - 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
PC Mag | Rob Marvin | June 18, 2019 Facebook's Libra Cryptocurrency: Everything We Know Facebook's big blockchain play, consisting of the Libra coin, the nonprofit Libra Foundation, and Facebook's Calibra wallet, will create a crypto-based payments ecosystem across Facebook, Messenger, WhatsApp, and beyond. Facebook's long-rumored cryptocurrency finally got its big debut, and it's called Libra after all. Facebook today released a lengthy white paper, along with a post from Mark Zuckerberg and another from VP of blockchain David Marcus, announcing the ambitious crypto initiative and all that comes with it. The open-source Libra cryptocurrency and blockchain will be governed by the nonprofit Libra Association, while a new Facebook-owned subsidiary called Calibra will release a wallet for Libra tokens and ultimately other banking and finance products—a move that could turn Facebook into a financial services giant in addition to a social and advertising one. See:  Facebook’s Cryptocurrency: Great Idea, Wrong Company While the public launch of Libra won't happen until the first half of 2020, the developer testnet of the Libra blockchain is live today. There will also be a new programming language called Move for developers to build distributed applications atop the Libra blockchain, though Facebook said neither itself ...
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facebook launches libra - 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
3iQ and Mavennet | Fred Pye and Kesem Frank | June 18, 2019 Stablecoins are now a necessary step to mass adoption of cryptocurrencies, as proven by the way they’ve been used to hedge the massive volatility of the market over the past couple of years. Their simple premise enables the seamless pairing of crypto-to-fiat pegged cryptocurrency. It might sound overly simplistic, but this straightforward innovation has spurred the growth of a new crypto asset class that measures in billions of dollars in aggregate market cap (e.g. Tether, USD Coin, TrueUSD, Paxos and Gemini Dollar). As much as this asset class is still gaining momentum driven by the current and common use case, the potential of stablecoins goes well beyond the tactical value of a trading tool. Stablecoins are strategically important because they represent a bridge between legacy fiat-based systems and the new digital and decentralized currency underpinnings we collectively call “blockchain.” The dream isn’t necessarily a prediction or extension of the purist’s vision   Bitcoin - blockchain’s earliest network - was born from tumultuous years in the traditional financial system. These were years defined by mistrust; not just towards the people at the helm of the financial system, but ...
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stablecoins  - 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
CNBC | Kate Rooney and Hugh Son | June 10, 2019 Mobility giant Uber is looking to accelerate the creation of financial products with a new fintech outpost in New York, according to people with knowledge of the plan. The ride-hailing company is aiming to hire several dozen engineers and product managers this year, and the New York team could eventually exceed 100 workers, said the people, who declined to be identified speaking about Uber’s plans. Uber, fresh from its IPO last month, is looking to tap New York’s talent pool, which is deeper when it comes to fintech and bank workers than its hometown of San Francisco. By building out its financial ecosystem, the company can increase its lead over rivals like Lyft. The efforts are likely to be focused on ways to increase engagement and loyalty to the Uber platform, according to people who attended a recruitment event earlier this year. Payments chief Peter Hazlehurst and top engineer Johnie Lee spoke at the event, held at Uber’s New York offices, the people said. There are many possible payment and lending innovations Uber could come up with: It has 93 million active users globally, most of whom use linked ...
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Dara Khosrowshahi CEO uber tech - 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
Schulte Research | Paul Schulte | June 17, 2019 Digital banking finally arrives in HK --all in one go! Be careful what you wish for — you might get it.  Hong Kong People have been kvetching for years about the poor quality of banking services. Now, they will have a deluge of ultra-efficient and essentially free new services. These services will offer strictly online banking services without branches and ALL of them have very deep pockets. The first batch below, which I will enumerate in a moment, have capital to burn of about USD 250 million. This can go a long way in eroding the highly profitable cartel of HSBC and Hang Seng Bank.  Hang Seng Bank has consistently had among the highest ROE globally north of 20-21%. And its revenue per customer has been among the world’s highest as well. HSBC owns more than 40% of HSB, so it has been a cash cow for the bank. Hong Kong is really the center of profitability for HSBC, since its ROE for commonwealth countries is the single digits and it has basically given up on the US financial market.  It’s European business, like all Euro banking franchises, is in the ...
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global network and points of presence maps - 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 | Enrique Dans | June 17, 2019 All the signs are that Facebook is about to launch its cryptocurrency on June 18, a project known internally as Libra, and that soon, apparently, we will all be using. So what are the implications of a company with 2.4 billion users launching its own currency? Strategically, the movement makes sense for Facebook: at a time when many question the its dominance of social networks and when a majority of its own shareholders say they want to see the back of Mark Zuckerberg, the company announces a very ambitious project of universal appeal giving it a central role in the world economy, in the wake of innumerable cryptocurrency projects of dubious legality, irresponsibly speculative and wasteful in terms of energy, aimed among others at people in countries with unstable currencies or limited banking penetration. As Jack Dorsey has said, this maybe the perfect moment to create a universal currency for the Internet era, reflecting the trend toward a universalization of the world. However, what is less clear is whether this currency should be in the hands of Facebook. See:  FaceCoin: Here’s What Facebook Could Build In Blockchain And Cryptocurrency Technically, the project ...
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mark Z. facebook - 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