Rojin Nair, Advisor
June 1st, 2021
At Incyub8 Inc, Rojin is focusing on nurturing and guiding various national and international start-[...]
Five Trends in Blockchain To Be Excited About in The New Year
FintruX Network | Conrad Lin | Jan, 2019
In the past year, we have seen a lot of interest and careful, calculated advances being made in blockchain applications across industries. Blockchain today is proving to be a viable technology aimed at decentralizing every industry resulting in better efficiency and security.
Blockchain was born as the digital framework for cryptocurrency transactions, but many fintech enthusiasts prioritized the speculation of trading cryptocurrencies versus the technology that powered it. With the markets experiencing a downturn, we have the opportunity to shift our focus to innovative use cases of the technology.
What is Blockchain?
Blockchain technology is a digital database where its information is stored across computers linked to one another. It is decentralized and distributed which makes it nearly impossible to alter without detection. An example of distributed ledger technology, blockchain technology ensures transparency and security of data, empowering peer-to-peer transactions.
Outlook for Blockchain Technology in 2019
According to a recent Forrester research article, there is a real risk of experiencing a ‘blockchain winter’ in 2019 as many promised and groundbreaking applications of blockchain technology have not yet reached the masses. In addition, the bear market has always caused many retail investors to lose faith in the technology as a whole. However, cryptocurrency is only part of the picture, and in my opinion, a considerably small part of the equation.
The technology is powerful. There is a lot of push towards using this ubiquitous technology to develop sustainable and scalable solutions across industries which will surely be worth the wait.
Here’s what we can look out for in 2019:
- Payments: Cross border payments using blockchain is an innovation that is bound to change the way we carry out financial transactions across the globe. The current process of initiating and setting up international payments involve multiple steps, intermediaries, multiple currencies and is subject to high transaction fees and regulatory constraints. Blockchain technology speeds up and simplifies this process, cutting out many of the traditional middlemen and at the same time, making payment transfers more affordable. Companies like Ripple are working with Japanese banks on an application based on blockchain to create efficient, instant cash transfers around the clock. Payment innovations using blockchain are also being taken up by credit card companies like Mastercard, Visa and American Express and financial institutions like the Bank of America which has taken out 43 patents on blockchain technology.
See: Experts predict the five big fintech trends of 2019
- Unlocking Liquidity: Decentralized lending based on the blockchain have opened an alternative financing mode for both individuals and small and medium enterprises. With limited access to credit and credit scores, blockchain based lending can make the whole process seamless and efficient. Borrowers can access competitive financing from any part of the globe, while lenders can use smart contracts to validate transactions. This model of financing though, is still in its infancy, and one must be cautious of scrupulous organizations that are acting as rogue banks. FintruX Network is currently building a transparent financing ecosystem where transparency, risk reduction, and efficiency is maximized, and all participants win. According to a Transparency Market Research report, the global peer to peer lending market will aim to cater to not just small business loans but also consumer credit loans, student loans and real estate loans in the near future.
- Privacy: With the growing prevalence of data breaches and in the massively interconnected world we live in, blockchain technology will be a game changer as it provides a robust, incorruptible and encrypted recordkeeping that can be easily verified. The hashing feature of blockchain technology is one of the underlying qualities that make it suitable for privacy and security. Public ledgers and smart contracts can help iron out security and privacy issues in industries ranging from healthcare to education and can also be effectively utilized by the government. Estonia is a country that has initiated e-residency allowing their citizens to record data on the blockchain.
- Artificial Intelligence: The trustworthiness and security of blockchains infinitely increases the effectiveness of AI as it is granted more accurate data, models and actions. There is also an increase in accessibility to data as the information is available in public domain. The powerful trifecta of Big Data, AI and Blockchain technology will help in building better AI models which can then be effectively utilized for applications in industries like retail, healthcare and pharma, gaming, manufacturing, customer service, automotive and even agriculture.
- Internet of Things: Blockchain provides a secure and scalable framework for communication between the growing number of connected devices in our homes and offices. Due to its distributed nature, blockchain can also allow smart devices to make automated micro-transactions with cryptocurrency or token technology by leveraging smart contracts. Some companies working on this technology include SatoshiPay and IOTA.
See: The Future of Government… in a Digital Age
Blockchain adoption and use cases are growing daily, and possibilities for innovation are endless. This technology will stimulate new solutions, enabling businesses to rethink their processes to maximize the benefits of utilizing distributed ledgers. I look forward to successful implementation of the technology in the year to come.
About Conrad Lin:
Conrad Lin is a young and dynamic entrepreneur, public speaker, and influencer with a background in Neuroscience and Psychology from the University of Toronto. He is a proven expert in business analysis, social media growth, global marketing strategy, project management, and product development with a specialty in DLT (distributed ledger technologies). Conrad excels at managing teams and delivering phenomenal results in a short amount of time, often fulfilling multiple roles in an organization. Conrad dedicates his efforts towards initiatives that impact the world positively and benefits the global community. He is often invited to speak at key fintech events around the world to share his innovative ideas and achievements with industry professionals. Official Twitter: @cryptolin; Linkedin: https://www.linkedin.com/in/conradlin
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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Support NCFA by Following us on Twitter!Follow @NCFACanada For more information about FFCON21: BREAKING BARRIERS, on-demand videos and ways to participate |
Borderless Ventures | Ethan Pierse | Oct 27, 2021 You might not yet have heard of social tokens or creator coins, but it's very possible that you heard the news of Lionel Messi changing football clubs from Barcelona to Paris Saint-Germain. Well, millions of dollars of his $40M signing bonus were paid in $PSG tokens issued by social token platform Socios. Those tokens allow fans to interact with the team by earning rewards, participating in select club decisions, and accessing unique merchandise and experiences. But what are social tokens ? Social tokens allow brands, whether individuals or organizations, to include their fans and community in a dedicated tokenized economy that facilitates: - Direct monetization - Community engagement and loyalty - Governance See: 67 per cent of young Brits want a socialist economic system, finds new poll Social media platforms can take 5-30% of content creators' tips and payment tools like Venmo charge 3% commission. However, creator coin platforms like Rally are able to charge 0% for direct digital payments to creators. Amazing platforms like Patreon, Substack, YouTube, Instagram, and Twitch have enabled creators to build business models on top of their communities and content, but in addition to expensive commissions, ...
Read More
Crowdfund Insider | JD Alois | Oct 26, 2021 Regulation Crowdfunding (Reg CF) has topped $1 billion – five years after the securities exemption became actionable for issuers in need of growth capital. According to Crowdfund Capital Advisors (CCA), 1.2+ million investors have backed over 4500 companies to achieve this milestone. The third quarter of 2021 was said to be the best quarter ever with approximately $148 million committed to issuers raising capital on funding portals or regulated broker dealers. See: Reg CF Update: Interview with Sherwood Neiss on Investment Crowdfunding This amount was 93% greater than the same quarter last year and 12.5% over Q2. The third quarter broke the record of number of offerings pegged at around 400 securities sales. Year to date as of Q3, approximately $409 million has been raised with 1,177 individual offerings. Software was the most popular industry to raise money using the exemption. The top five platforms during Q3 dominated the sector of online capital formation accounting for around 88% of investment activity. CCA noted that Reg CF activity helped to create more than 17,000 jobs during the quarter. See: Doug Ellenoff on US Reg CF Increasing Issuer Caps to $5 million: Investment ...
Read More
Global News | Ian Bickis | Oct 24, 2021 If you haven’t shopped for a credit card in a while, you may see some unfamiliar names in the offerings. Companies like Brim Financial, Float Inc., Caary Capital Ltd., Jeeves Inc., and Neo Financial are part of a growing crop of tech-enabled lenders that are looking to snag a share of the lucrative credit card market from the big banks. The startups have to be creative with rewards programs because they lack the scale to offer the big sign-up bonuses of the big banks, said Castaldo. See: Any bank, merchant or Fintech on Mastercard’s vast network can soon offer crypto services On corporate cards, companies like Jeeves, Float and Caary are aiming mostly at startups and small to medium businesses, offering fast sign-up, numerous digital cards, higher credit limits and no personal guarantee, as well as easier integration into some accounting and spend management software. Jeeves directly monitors a client’s bank account and uses machine learning to assess risk, which Thazhmon said allows them to offer the higher credit limit and no personal guarantee. The new competition for the big banks comes as the market is already feeling pressure. Credit card ...
Read More
CNBC | Hugh Son | Oct 26, 2021 The crypto economy is about to expand. Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate crypto into their products, CNBC has learned. That includes bitcoin wallets, credit and debit cards that earn rewards in crypto and enable digital assets to be spent, and loyalty programs where airline or hotel points can be converted into bitcoin. To do so, the payments network is partnering with Bakkt, the crypto firm recently spun off by Intercontinental Exchange, which will be the behind-the-scenes provider of custodial services for those who sign up, executives at the two firms told CNBC. “We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing,” Sherri Haymond, Mastercard’s executive vice president of digital partnerships, said in an interview. “Our partners, be they banks, fintechs or merchants, can offer their customers the ability to buy, sell and hold cryptocurrency through an integration with the Baktt platform.” See: ‘Last year we saw about a 300% increase in transactions just using cryptocurrency’: Coinpayments CEO The announcement could lead ...
Read More
ComplianceX | Jack Kelly | Oct 26, 2021 The Securities and Exchange Commission has won a debate among US agencies to propose legislation and oversee the $131 billion stablecoin market, Bloomberg reported on Monday. The Wall Street watchdog’s “significant authority” over tokens like tether will be spelt out in a report expected to be published this week, Bloomberg said, citing sources familiar with the matter. Agencies including the Treasury will ask Congress to pass legislation stating coins should be regulated like bank deposits, one source said. See: A Regulated Stablecoin Means Having a Regulator On the Brink Podcast: George Selgin of the Cato Institute on Stablecoins, Bitcoin and Free Banking FCA Chair Charles Randall Discusses Crypto, Stablecoins and Digital Asset Regulation More regulation coming: SEC Chairman signals stablecoins and other tokens could fall under its rules on security-based swaps The report is expected to highlight the SEC’s powers, as Chairman Gary Gensler has been pushing for oversight and the ability to pursue enforcement action. It will clarify how the Biden administration will regulate the sector, with several agencies including the Commodity and Futures Trading Commission likely to have a role. These developments suggest the government will have clear and active authority over the stablecoin ...
Read More
TheStreet | Rob Lenihan | Oct 25, 2021 Cryptocurrency prices were climbing Monday with the parody cryptocurrency Shiba Inu coin soaring to a record over the weekend before losing ground. Shiba Inu's recent surge appears related to unconfirmed rumors that the coin would soon be listed on the popular stock trading app Robinhood, according to Fortune. Shiba Inu coins traded at a record $0.0000455 at 7:20am U.S. Eastern. That topped the previous record $0.0000388 from May 10, Coindesk reported, citing Messari data. It's currently trading at $0.000039. See: SEC says GameStop’s wild stock surge was not short covering Some market observers said that the currency started falling after Tesla CEO Elon Musk, famed for rattling crypto markets worldwide, tweeted on Sunday that he does not own the cryptocurrency. "Don't bet the farm on crypto," Musk tweeted. "True value is building products & providing services to your fellow human beings, not money in any form." Regulation remains a factor in the cryptocurrency world. -- "[The] U.S. Congress predictably looking at imposing standard financial industry 'Know your Client' and Internal Revenue Service reporting requirements -- "[The] UK warning about investor protection -- [The] EU cracking down on money laundering," and, -- "China clearing the field for ...
Read More
Institute for New Economic Thinking | Lynn Parramore | Oct 14, 2021 Famed short-seller is even more concerned with political fallout from Evergrande than economic/financial woes. LP: Let’s talk about Evergrande, the Shenzhen developer whose crisis has got everybody worried. How did things get so bad? JC: Last year, as the tech crackdown was gaining momentum, Xi’s administration put down a set of rules called the “three red lines.” They were sort of balance sheet financial tests. It was an attempt to deleverage the real estate developers. LP: So with Evergrande, everyone came to expect a bailout? JC: I think we’re at that crossroads. The problem is that these companies are so much bigger than they were in 2015 or 2011. Can you bail everybody out? In the case of the developers, you have an additional problem. The biggest amount of liabilities is not necessarily to banks and bondholders. It’s to apartment buyers. Here’s why: the Chinese real estate finance system is exactly the opposite of ours. In our system, when there’s a new development, you’re typically required to put 10% down to sign a contract, with the balance due on closing. See: Opinion: Evergrande and Crypto Where is Bitcoin ...
Read More
Linklaters | Oct 22, 2021 OFAC recommendations for virtual currency industry participants A U.S. regulator has again reminded the virtual currency industry that it is subject to the same compliance obligations as more traditional industries. Last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued specific guidance regarding the application of U.S. sanctions requirements to the virtual currency industry. OFAC views participants in the virtual currency industry as playing “an increasingly critical role in preventing sanctioned persons from exploiting virtual currencies to evade sanctions and undermine U.S. foreign policy and national security interests.” See: CSA and IIROC Publish Guidance and Regulatory Framework for Crypto Asset Trading Platform Compliance As with any sector of the economy, virtual currency industry participants are expected to evaluate a variety of factors in assessing their unique sanctions risks and formulating a risk-based compliance strategy. In the guidance, OFAC identifies the following key measures that virtual currency industry participants should carefully consider in implementing their risk-based compliance programs: Geolocation Tools – these tools allow companies to determine the locations of IP addresses, in particular to identify any that are in comprehensively sanctioned jurisdictions; OFAC makes clear that a failure to use ...
Read More
CIX | Oct 25, 2021 1) Presentations by the 30 award winning companies, as selected out of 492 CEOs & Founders of CIX Top 20 Early and CIX Top 10 Growth 2021 Inductees: 2) AND your chance to meet the presenting companies face to face after their presentation in the 6 ‘Meet the Presenting Companies’ sessions. 3) More presentations from founders and CEO of these promising startups a) Atlantic Canada Tech Showcase b) DMZ Women Founders Showcase c) Intuit Prosperity Accelerator.AI Showcase 4) Reverse Investors’ Pitches - Top VCs explain why you should choose them! 5) Canada Success Story Spotlights: fireside chats with founders and CEOs sharing their journey and insights. 6) CIX 2021 Innovator of the Year -Trulioo’s CEO in a fireside chat with investor TCV. 7) Ask an Expert - Your opportunity to pick the brains of serial entrepreneurs, top investors in face to face conversations. 8) The Current M&A Landscape - Hear how the pandemic is impacting current deals and how you can benefit. 9) Digital Identity and Credentials - Vaccine Passports, DeFi, age verification and passwords. How they work and the opportunities to use them to build your business. 10) Recruiting Talent in the Current Climate- hear from experts discuss the struggles ...
Read More
BNN Bloomberg | Kevin Orland | Oct 21, 2021 Power Corp. of Canada’s online financial-services company Wealthsimple is adding retirement portfolios that include Bitcoin and Ethereum for its group-retirement clients, another sign of the possible mainstreaming of cryptocurrencies. Employees of companies with retirement plans run by Wealthsimple Work will be able to allocate 1 per cent to 3 per cent of their holdings into exchange-traded funds made up of Bitcoin and Ethereum, Wealthsimple said Thursday. The plans will automatically rebalance to keep the crypto, stock and bond portions of their portfolios at their targeted levels. For Wealthsimple, adding cryptocurrencies to retirement plans is a way to differentiate its offerings from those of other financial-services providers and lure more companies to sign up with Wealthsimple Work. The move also is meant to encourage younger employees -- who may be enthusiastic about crypto, but less interested in saving for retirement -- to start contributing to Wealthsimple Work plans. “When you’re young, that’s the best time to start saving for retirement,” Tim Kalimov, head of Wealthsimple Work, said in an interview. “So getting those folks invested is really critical.” See: Wealthsimple CEO Michael Katchen on his not-so-simple mission: to help people — especially ...
Read More
Borderless Ventures | Ethan Pierse | Oct 27, 2021 You might not yet have heard of social tokens or creator coins, but it's very possible that you heard the news of Lionel Messi changing football clubs from Barcelona to Paris Saint-Germain. Well, millions of dollars of his $40M signing bonus were paid in $PSG tokens issued by social token platform Socios. Those tokens allow fans to interact with the team by earning rewards, participating in select club decisions, and accessing unique merchandise and experiences. But what are social tokens ? Social tokens allow brands, whether individuals or organizations, to include their fans and community in a dedicated tokenized economy that facilitates: - Direct monetization - Community engagement and loyalty - Governance See: 67 per cent of young Brits want a socialist economic system, finds new poll Social media platforms can take 5-30% of content creators' tips and payment tools like Venmo charge 3% commission. However, creator coin platforms like Rally are able to charge 0% for direct digital payments to creators. Amazing platforms like Patreon, Substack, YouTube, Instagram, and Twitch have enabled creators to build business models on top of their communities and content, but in addition to expensive commissions, ...
Read More
Read More
Crowdfund Insider | JD Alois | Oct 26, 2021 Regulation Crowdfunding (Reg CF) has topped $1 billion – five years after the securities exemption became actionable for issuers in need of growth capital. According to Crowdfund Capital Advisors (CCA), 1.2+ million investors have backed over 4500 companies to achieve this milestone. The third quarter of 2021 was said to be the best quarter ever with approximately $148 million committed to issuers raising capital on funding portals or regulated broker dealers. See: Reg CF Update: Interview with Sherwood Neiss on Investment Crowdfunding This amount was 93% greater than the same quarter last year and 12.5% over Q2. The third quarter broke the record of number of offerings pegged at around 400 securities sales. Year to date as of Q3, approximately $409 million has been raised with 1,177 individual offerings. Software was the most popular industry to raise money using the exemption. The top five platforms during Q3 dominated the sector of online capital formation accounting for around 88% of investment activity. CCA noted that Reg CF activity helped to create more than 17,000 jobs during the quarter. See: Doug Ellenoff on US Reg CF Increasing Issuer Caps to $5 million: Investment ...
Read More
Read More
Global News | Ian Bickis | Oct 24, 2021 If you haven’t shopped for a credit card in a while, you may see some unfamiliar names in the offerings. Companies like Brim Financial, Float Inc., Caary Capital Ltd., Jeeves Inc., and Neo Financial are part of a growing crop of tech-enabled lenders that are looking to snag a share of the lucrative credit card market from the big banks. The startups have to be creative with rewards programs because they lack the scale to offer the big sign-up bonuses of the big banks, said Castaldo. See: Any bank, merchant or Fintech on Mastercard’s vast network can soon offer crypto services On corporate cards, companies like Jeeves, Float and Caary are aiming mostly at startups and small to medium businesses, offering fast sign-up, numerous digital cards, higher credit limits and no personal guarantee, as well as easier integration into some accounting and spend management software. Jeeves directly monitors a client’s bank account and uses machine learning to assess risk, which Thazhmon said allows them to offer the higher credit limit and no personal guarantee. The new competition for the big banks comes as the market is already feeling pressure. Credit card ...
Read More
Read More
CNBC | Hugh Son | Oct 26, 2021 The crypto economy is about to expand. Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate crypto into their products, CNBC has learned. That includes bitcoin wallets, credit and debit cards that earn rewards in crypto and enable digital assets to be spent, and loyalty programs where airline or hotel points can be converted into bitcoin. To do so, the payments network is partnering with Bakkt, the crypto firm recently spun off by Intercontinental Exchange, which will be the behind-the-scenes provider of custodial services for those who sign up, executives at the two firms told CNBC. “We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing,” Sherri Haymond, Mastercard’s executive vice president of digital partnerships, said in an interview. “Our partners, be they banks, fintechs or merchants, can offer their customers the ability to buy, sell and hold cryptocurrency through an integration with the Baktt platform.” See: ‘Last year we saw about a 300% increase in transactions just using cryptocurrency’: Coinpayments CEO The announcement could lead ...
Read More
Read More
ComplianceX | Jack Kelly | Oct 26, 2021 The Securities and Exchange Commission has won a debate among US agencies to propose legislation and oversee the $131 billion stablecoin market, Bloomberg reported on Monday. The Wall Street watchdog’s “significant authority” over tokens like tether will be spelt out in a report expected to be published this week, Bloomberg said, citing sources familiar with the matter. Agencies including the Treasury will ask Congress to pass legislation stating coins should be regulated like bank deposits, one source said. See: A Regulated Stablecoin Means Having a Regulator On the Brink Podcast: George Selgin of the Cato Institute on Stablecoins, Bitcoin and Free Banking FCA Chair Charles Randall Discusses Crypto, Stablecoins and Digital Asset Regulation More regulation coming: SEC Chairman signals stablecoins and other tokens could fall under its rules on security-based swaps The report is expected to highlight the SEC’s powers, as Chairman Gary Gensler has been pushing for oversight and the ability to pursue enforcement action. It will clarify how the Biden administration will regulate the sector, with several agencies including the Commodity and Futures Trading Commission likely to have a role. These developments suggest the government will have clear and active authority over the stablecoin ...
Read More
Read More
TheStreet | Rob Lenihan | Oct 25, 2021 Cryptocurrency prices were climbing Monday with the parody cryptocurrency Shiba Inu coin soaring to a record over the weekend before losing ground. Shiba Inu's recent surge appears related to unconfirmed rumors that the coin would soon be listed on the popular stock trading app Robinhood, according to Fortune. Shiba Inu coins traded at a record $0.0000455 at 7:20am U.S. Eastern. That topped the previous record $0.0000388 from May 10, Coindesk reported, citing Messari data. It's currently trading at $0.000039. See: SEC says GameStop’s wild stock surge was not short covering Some market observers said that the currency started falling after Tesla CEO Elon Musk, famed for rattling crypto markets worldwide, tweeted on Sunday that he does not own the cryptocurrency. "Don't bet the farm on crypto," Musk tweeted. "True value is building products & providing services to your fellow human beings, not money in any form." Regulation remains a factor in the cryptocurrency world. -- "[The] U.S. Congress predictably looking at imposing standard financial industry 'Know your Client' and Internal Revenue Service reporting requirements -- "[The] UK warning about investor protection -- [The] EU cracking down on money laundering," and, -- "China clearing the field for ...
Read More
Read More
Institute for New Economic Thinking | Lynn Parramore | Oct 14, 2021 Famed short-seller is even more concerned with political fallout from Evergrande than economic/financial woes. LP: Let’s talk about Evergrande, the Shenzhen developer whose crisis has got everybody worried. How did things get so bad? JC: Last year, as the tech crackdown was gaining momentum, Xi’s administration put down a set of rules called the “three red lines.” They were sort of balance sheet financial tests. It was an attempt to deleverage the real estate developers. LP: So with Evergrande, everyone came to expect a bailout? JC: I think we’re at that crossroads. The problem is that these companies are so much bigger than they were in 2015 or 2011. Can you bail everybody out? In the case of the developers, you have an additional problem. The biggest amount of liabilities is not necessarily to banks and bondholders. It’s to apartment buyers. Here’s why: the Chinese real estate finance system is exactly the opposite of ours. In our system, when there’s a new development, you’re typically required to put 10% down to sign a contract, with the balance due on closing. See: Opinion: Evergrande and Crypto Where is Bitcoin ...
Read More
Read More
Linklaters | Oct 22, 2021 OFAC recommendations for virtual currency industry participants A U.S. regulator has again reminded the virtual currency industry that it is subject to the same compliance obligations as more traditional industries. Last week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued specific guidance regarding the application of U.S. sanctions requirements to the virtual currency industry. OFAC views participants in the virtual currency industry as playing “an increasingly critical role in preventing sanctioned persons from exploiting virtual currencies to evade sanctions and undermine U.S. foreign policy and national security interests.” See: CSA and IIROC Publish Guidance and Regulatory Framework for Crypto Asset Trading Platform Compliance As with any sector of the economy, virtual currency industry participants are expected to evaluate a variety of factors in assessing their unique sanctions risks and formulating a risk-based compliance strategy. In the guidance, OFAC identifies the following key measures that virtual currency industry participants should carefully consider in implementing their risk-based compliance programs: Geolocation Tools – these tools allow companies to determine the locations of IP addresses, in particular to identify any that are in comprehensively sanctioned jurisdictions; OFAC makes clear that a failure to use ...
Read More
Read More
CIX | Oct 25, 2021 1) Presentations by the 30 award winning companies, as selected out of 492 CEOs & Founders of CIX Top 20 Early and CIX Top 10 Growth 2021 Inductees: 2) AND your chance to meet the presenting companies face to face after their presentation in the 6 ‘Meet the Presenting Companies’ sessions. 3) More presentations from founders and CEO of these promising startups a) Atlantic Canada Tech Showcase b) DMZ Women Founders Showcase c) Intuit Prosperity Accelerator.AI Showcase 4) Reverse Investors’ Pitches - Top VCs explain why you should choose them! 5) Canada Success Story Spotlights: fireside chats with founders and CEOs sharing their journey and insights. 6) CIX 2021 Innovator of the Year -Trulioo’s CEO in a fireside chat with investor TCV. 7) Ask an Expert - Your opportunity to pick the brains of serial entrepreneurs, top investors in face to face conversations. 8) The Current M&A Landscape - Hear how the pandemic is impacting current deals and how you can benefit. 9) Digital Identity and Credentials - Vaccine Passports, DeFi, age verification and passwords. How they work and the opportunities to use them to build your business. 10) Recruiting Talent in the Current Climate- hear from experts discuss the struggles ...
Read More
Read More
BNN Bloomberg | Kevin Orland | Oct 21, 2021 Power Corp. of Canada’s online financial-services company Wealthsimple is adding retirement portfolios that include Bitcoin and Ethereum for its group-retirement clients, another sign of the possible mainstreaming of cryptocurrencies. Employees of companies with retirement plans run by Wealthsimple Work will be able to allocate 1 per cent to 3 per cent of their holdings into exchange-traded funds made up of Bitcoin and Ethereum, Wealthsimple said Thursday. The plans will automatically rebalance to keep the crypto, stock and bond portions of their portfolios at their targeted levels. For Wealthsimple, adding cryptocurrencies to retirement plans is a way to differentiate its offerings from those of other financial-services providers and lure more companies to sign up with Wealthsimple Work. The move also is meant to encourage younger employees -- who may be enthusiastic about crypto, but less interested in saving for retirement -- to start contributing to Wealthsimple Work plans. “When you’re young, that’s the best time to start saving for retirement,” Tim Kalimov, head of Wealthsimple Work, said in an interview. “So getting those folks invested is really critical.” See: Wealthsimple CEO Michael Katchen on his not-so-simple mission: to help people — especially ...
Read More
Read More
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