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NCFA Jan 2018 resize - Learn About Fintech and Funding in CanadaThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

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CoinDesk | Sam Kessler, Shaurya Malwa | May 16, 2022 The announcement comes after criticism of the Luna Foundation Guard's "lack of transparency." The Luna Foundation Guard (LFG), official stewards of Terra’s bitcoin (BTC) reserves, released a statement on Monday documenting how it disbursed millions of dollars' worth of crypto in its failed attempt to maintain the peg of stablecoin terraUSD (UST). In the statement, LFG notes that it has almost entirely depleted its BTC reserves from around 80,000 bitcoins to 313. The remaining assets, which mostly comprise the crashed UST and LUNA tokens, will apparently be used to compensate investors. In one of the most calamitous events in crypto memory, the $40 billion Terra ecosystem collapsed last week when the UST stablecoin, which is supposed to be worth $1, dropped to below 20 cents. The LUNA token, which is designed to serve as a sort of shock absorber for UST’s “algorithmic” dollar-pegging mechanism, crashed from $80 to below 2 cents. See:  Terra is transitioning from a dollar-pegged stablecoin to a bitcoin-backed stablecoin In a tweet on Monday, LFG said it sold off most of the BTC in its reserves for UST as Terra’s ecosystem was beginning to collapse early ...
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moon over water - Learn About Fintech and Funding in Canada
Guest Post | May 16, 2022 Education is a rapidly evolving sector. A few decades ago, traditional education was the only acceptable model. We had blackboards, wooden desks, bulky textbooks, and detention for naughty students. Fast forward to the 21st century, and most of the symbols of traditional education have now been replaced by technology. Thanks to the infusion of technology into education, we now have Brighterly.com and other online learning platforms. But that’s not where it ends. Technology has equally birthed a new genre of education known as “edutainment.” But what exactly is edutainment? And how is it transforming traditional education? Let’s take a quick look, shall we? What Is Edutainment? As the name implies, edutainment is a combination of education and entertainment. It was first used in 1954 by Walt Disney to describe the new True Life Adventure series. Basically, it means infusing education with entertainment to make learning an enjoyable experience for students. With the COVID-19 pandemic and the consequent disruption to education, students have been finding it harder to learn. However, as we all teach and learn post-pandemic, it’s time to infuse fun and joy into learning to boost students’ motivation and participation. See:  The digital ...
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Eductainment - Learn About Fintech and Funding in Canada
TechCrunch | Jacquelyn Melinek | May 10, 2022 Stablecoins have been a hot topic both on and off Capitol Hill. Earlier today, U.S. Treasury Secretary Janet Yellen pushed for regulation during an annual testimony in front of the Senate Banking Committee, at a time where Terra’s algorithmic stablecoin UST struggles to retain its peg. US Treasury Secretary, Janet Yellen, said: New products and technology may present opportunities to promote innovation and increase efficiencies. However, digital assets may present risks to the financial system and increased and coordinated regulatory attention is necessary. A stablecoin known as TerraUSD experienced a run and declined in value, [which] illustrates that this is a rapidly growing product and there are rapidly growing risks.  It would be highly appropriate for stablecoin regulation to occur by the end of 2022 because there are “many risks associated with cryptocurrencies.” See:  Terra Networks’ Stablecoin Loses Dollar Peg (again) Dives 45% (Update: to near zero) Adding More Pressure on Bitcoin Stablecoins by definition are supposed to be stable and hold their value through a 1:1 ratio that is fixed to an external peg like the U.S. dollar or it can be tied to other assets like UST, which is backed ...
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Janet Yellen US Treasury secretary - Learn About Fintech and Funding in Canada
London Loves Business | Apr 27, 2022 Outfund are changing the way online businesses raise funds, today announces the close of a £115M Series A round of equity capital and debt amount. The funding round was led by Force Over Mass, PostFinance, 1818 Venture Capital and Tribe Capital, and will support Outfund’s rapid global growth as it provides a faster, fairer and more affordable way for SMEs to raise growth capital across the globe.  With this new investment, Outfund is pledging to invest more than £500m of lending to over 5,000 businesses in the next 12 months, and will increase its lending limit to £10m per company. See:  Corl raises $20 Million USD to expand Revenue-Based Financing in North America Outfund can deploy between £10,000 and £10million of funding, and is available to businesses that take online payments, have a minimum of £10,000 monthly turnover, and have been trading for at least six months.  Only simple checks are required to access capital and there is no need for companies to provide business plans or go through prolonged risk assessments. Businesses simply connect their revenue accounts and, with access to this data, Outfund will build a funding offer and deploy the same ...
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revenue based financing - Learn About Fintech and Funding in Canada
IMF | LinkedIn John Ho | May 11, 2022 The IMF has today published a report on how crypto assets might be used to circumvent capital flow management measures, undermining the stability of domestic economies and the global system Highlights: Capital flows can bring substantial benefits for countries but also carry risks. Capital flow management measures (CFMs) can be part of the broader policy toolkit to help countries reap the benefits of capital flows while managing the associated risks. Implementation of CFMs typically requires that financial intermediaries verify the nature of transactions & the identities of transacting parties, but it is facing the rising challenge of crypto assets. See:  IMF asks Financial Stability Board to develop a global framework for standards for regulation of crypto assets Crypto assets have become a significant instrument for payments and speculative investments in some countries, driven by a host of macroeconomic, institutional, & demographic factors. Crypto assets can be traded pseudonymously and held without identification of the residency of the asset holder. Many crypto service providers operate across borders, making supervision & enforcement by national authorities more difficult. The challenges posed by the attributes of crypto assets are compounded by gaps in the legal & regulatory ...
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IMF fintech notes crypto assets cash flow management - Learn About Fintech and Funding in Canada
PYMNTS | Mar 31, 2022 The European Union has passed several laws aimed at providing digital identity protection, among them the General Data Protection Regulation (GDPR), which went into effect in 2018. Among the biggest violators of these protocols? American websites. According to one study, 67% of the top 1,000 websites in the United States were in violation of the GDPR. The violations at work here vary, with 43% of websites not offering users the ability to opt out of selling data, 55% failing to notify users of cookies when they visit the site for the first time, and 32% of sites containing ad trackers. See:  How Verifiable Digital Identity Will Protect Your Post-Pandemic Privacy The study pointed out that while GDPR exclusively concerns Europe, websites originating in the U.S. still sell goods and services to EU customers.  Fines for violations of the GDPR range from $80,000 to $120,000. To help smaller app developers make sure they’re complying with the GDPR — and thus avoiding penalties they may not be able to afford — Google has launched a new platform called Checks that leverages artificial intelligence (AI) to scan code bases and evaluate them for privacy and other areas in ...
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GDPR - Learn About Fintech and Funding in Canada
a16z | Liz Harkavy, Eddy Lazzarin, Arianna Simpson  | May 10, 2022 There has been a lot of buzz about “the metaverse” since its coinage in the ‘90s, but especially during the pandemic (given the surge in online activity), and even more so after Facebook changed its name to Meta. In many ways, the metaverse is just another name for evolving the internet: to be more social, immersive, and far more economically sophisticated than what exists today. There are, broadly speaking, two competing visions for how to bring this about: One is decentralized, generous with property rights and new frontiers, interoperable, open, and owned by the communities that build and maintain it. The other vision is centralized, closed, subject to the whims of corporations; and often extracts painful economic rents from its creators, contributors, and inhabitants. An open metaverse is decentralized, allows users to control identity, enforces property rights, aligns incentives, and ensures value accrues to users (not platforms). See:  CB Insights: Metaverse stack and companies making it a reality An open metaverse is also transparent, permissionless, interoperable, and composable (others can freely build within and across metaverses), among other criteria. Achieving a “true” metaverse — one that’s open versus ...
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open metaverse - Learn About Fintech and Funding in Canada
Blockworks | David Canellis  | May 5, 2022 Letters sent to the EPA have deepened battle lines between crypto critics and proponents over Bitcoin’s environmental impact Bitcoin industry advocates responded this week to a letter submitted to the Environmental Protection Agency by Rep. Jared Huffman, D-Calif., and signed by a total of 23 Democratic members of Congress. The extensive rebuttal sent by the Bitcoin Mining Council, a group representing bitcoin miners, is co-signed by nearly 50 industry figures, including Castle Island Ventures’ Nic Carter — who contributed much of the essay — as well as Block’s Jack Dorsey and Galaxy Digital’s Mike Novogratz. See: Bitcoin mining is worse for the environment since China banned it “If you have 23 members of Congress signed onto this thing, it could get messy.” Carter claimed the original Huffman letter held several inaccuracies: For one, he noted Huffman highlighted the EPA’s denial of a Greenidge application to keep open its coal ash ponds — large dirt ditches used to of harmful coal byproducts that are not biodegradable. But Greenidge is now a gas-only operation that mines bitcoin. The firm uses those ponds to continue mitigating waste associated with its past life as a coal ...
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bitcoin mining rigs - Learn About Fintech and Funding in Canada
Market Insider | Weilun Soon | May 10, 2022 Terra Network's luna token plunged by as much as 61% on Tuesday, after sister stablecoin TerraUSD lost its peg to the dollar for the second time in as many days. TerraUSD is an algorithmic stablecoin whose value is fixed to $1. Unlike traditional stablecoins that are backed up by fiat currency and hard assets — including government bonds or even gold — UST, as it's known, has its value set by a computer algorithm.  But intense volatility across the broader financial markets on Monday, caused by investors fretting about the outlook for surging interest rates and inflation, hit the crypto market. UST decoupled from the dollar again, leaving the luna token in freefall on Tuesday. See:  Terra is transitioning from a dollar-pegged stablecoin to a bitcoin-backed stablecoin Last week, LFG announced it had bought $1.5 billion worth of bitcoin to add to its reserves. It has said in the past it intends to acquire $10 billion in bitcoin for its reserves. Terra Labs' co-founder and CEO Do Kwon said: "Per the LFG's mandate, the LFG will proactively defend the stability of the $UST peg & broader Terra economy, especially under volatility and ...
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crypto trdaer - Learn About Fintech and Funding in Canada
Go Banking Rates | May 9, 2022 Adam Mosseri, head of Instagram, tweeted that the company [Meta] will begin to test digital collectibles this week “with a handful of U.S. creators and collectors who will be able to share NFTs on Instagram.” He added that “there will be no fees associated with posting or sharing a digital collectible on IG.” NFTs on Instagram 🎉This week we’re beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram. There will be no fees associated with posting or sharing a digital collectible on IG.See you next week! ✌🏼 pic.twitter.com/VuJbMVSBDr— Adam Mosseri (@mosseri) May 9, 2022 NFTs on Instagram will have a unique “shimmer” effect to differentiate them from traditional images and photos, and will be attributed to both the collector and the original creator, according to Decrypt. In addition, Instagram will add support for NFTs on blockchains including Ethereum, Solana, Flow and Polygon. See:  CB Insights: Metaverse stack and companies making it a reality Some experts, however, voiced their dissatisfaction with Meta’s foray into NFTs. Hugo Feiler, CEO and co-founder at blockchain network Minima, told GOBankingRates: While NFTs are decentralized and ...
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Meta rolls out NFTs to instagram - Learn About Fintech and Funding in Canada