NCFAs innovation and funding ecosystem

NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech

NCFA | Team FFCON19 | April 16, 2019

FFCON19 group shot - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech

5th annual Fintech and Financing Conference in Toronto addressed challenges and successes of entrepreneurs and innovators transforming the financial industry

TORONTO, ON / ACCESSWIRE / April 16, 2019 / The National Crowdfunding & Fintech Association (NCFA), the non-profit cross-body organization that promotes and supports fintech and funding throughout Canada, closed its 5th annual flagship Fintech and Financing Conference - FFCON - which featured numerous fintech market leaders, as well as industry experts, government officials, and prominent tech investors.

"FEARLESS" was the theme for this year's conference, celebrating the boldness and innovative nature of the FinTech industry, where entrepreneurs constantly challenge pre-existing financial systems with innovative new products and services. The conference brought together more than 500 attendees who experienced keynote speeches, immersive learning, workshops, startup pitch presentations and awards, an exhibitor floor, and networking receptions.

Key themes explored at FFCON19: FEARLESS:

  1. RISK is a conscious choice and necessary to innovate;
  2. Digital trust and security are essential for mass adoption;
  3. The digital bank and future of fintech is already here;
  4. Collaboration and new social (decentralized) models can revitalize markets controlled by incumbents with too much power and no incentive to change;
  5. Private-public market funding trends shifting - seek low-cost liquidity, online funding does work, needs aligned critical mass, can unlock value;
  6. Digital asset markets evolving (EIO, STO, stablcoins). Revisit playbooks, diversify, invest/build/prep for growth in securities, currency, record keeping, smart contracts;
  7. Canadian fintech lacks a national strategy; regulation is complex, costly and needs to be streamlined and government at all levels are encouraged to collaborate with industry.

Conference Highlights include:

  • Over 50+ leading fintech, blockchain, AI and alternative finance experts, 9 pitching finalists and 40+ innovation ecosystem partners gathered to discuss the latest industry developments, trends, insider views and best practices.
  • The 2019 FFCON Pitch Competition Winner was Vacation Fund - an employer-matched travel savings program for employees. The winning pitch was by Erica Pearson, co-founder & CEO, who accepted the award on behalf of Vacation Fund from Richard Carlton, CEO of the Canadian Securities Exchange (CSE).
  • Jon Medved, CEO of OurCrowd, who has raised over $1 billion for their companies gave a special keynote speech on the first day. OurCrowd was recently named the most active investor in Israel by PitchBook, with investments in 170 startups, and 18 funds, along with 29 exits so far.
  • FFCON19 FEARLESS was proud to have screened the Toronto premiere of TRUST MACHINE: The Story about Blockchain. The documentary and Q&A with John Lyotier, RightMesh CEO, was well received by the sold-out room at Gowlings and shone a light on the history and advancements of blockchain technology.
  • FFCON19 held an extremely popular consultation with The Honorable Bill Walker, Minister of Consumer and Government Services in Ontario, and steward of the province's new data policy.
  • NCFA expanded this year's program with the formal launch of its inaugural online Global Fintech Education program for entrepreneurs in conjunction with Next Decentrum Technologies. Attendees had an exclusive first look at the program with VIP attendees having received complimentary enrolment with conference registration. Early access to the program is now open and program directors are encouraging partners and fintech experts globally to connect to explore opportunities here.

Announcements at FFCON19

NCFA announced a partnership with Export Canada that will provide opportunities for qualifying Canadian fintech ventures to connect with global markets and investors with its first mission to enter Asia in early 2020.

Coinsquare, the Toronto based cryptocurrency exchange, announced the launch of eCAD™, the first stablecoin pegged to the Canadian Dollar. eCAD™ marks the beginning of a new era for cryptocurrency mass adoption as it will create the first transparent, affordable, and secure way of transferring value in Canada and beyond, without the risk of instability of the traditional cryptocurrency market. Coinsquare continues to cement their place as one of Canada's most reliable cryptocurrency exchanges.

3iQ Corp, the investment fund manager with a focus on cryptocurrency holdings, announced that it signed a letter of intent (LOI) to acquire First Block Capital's FBC Bitcoin Trust and Distributed Ledger Technology Adopters ETF.

Watch the FFCON19 highlight video.

Check out the photo album or presentation decks

The organizers offer special thanks to the conference partners, all the speakers, companies, and volunteers that helped make FFCON19 an informative and memorable event.

About the NCFA

The National Crowdfunding & Fintech Association (NCFA) 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 and cryptocurrency, Regtech, and Insuretech sectors. To learn more about NCFA visit www.ncfacanada.org.

About FFCON

FFCON (Fintech and Financing Conference) is an annual conference hosted by Canada's National Crowdfunding and Fintech Association (NCFA). Now in its fifth year, FFCON19 brought together professionals and innovators in fintech, blockchain, cryptocurrency, and alternative finance. The theme of FFCON19 was FEARLESS which exudes the boldness of the fintech space where small players are challenging orthodoxy, going against convention and transforming the financial industry with innovative models and thinking. Further information about the conference series can be found at www.fintechandfunding.com.

FFCON Contacts

Craig Asano
Founder and CEO, NCFA
casano@ncfacanada.org
(416) 618-0254

Partnership Inquiries

Lauren Linton
Advisor, NCFA
lauren@ncfacanada.org
(416) 569-4349

Media Contact

Michele McDermott-Fox
The Top Floor Public Relations
pr@thetopflooragency.com
(905) 379-1893

SOURCE: National Crowdfunding & Fintech Association of Canada


Latest news - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in FintechFF Logo 400 v3 - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintechcommunity social impact - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech

Support NCFA by Following us on Twitter!







For more information about FFCON21: BREAKING BARRIERS, on-demand videos and ways to participate




IMF Annual Meetings (2021 Washington DC)| Oct 18, 2021 Overview of IMF Seminar 'Digital Money Revolution' Digital finance innovations—central bank digital currencies, private eMoney, stable coins, or cryptoassets—may bring changes in the way we lead our lives. This seminar reviews the implications of this transformation for the international monetary system. See:  The Impact of Fintech on Central Bank Governance Moderator:  Martin Wolf is chief economics commentator at the Financial Times, London. Speakers: Kristalina Georgieva is the Managing Director of the International Monetary Fund (IMF). Benoît Cœuré was appointed Head of the BIS Innovation Hub in 2020. Eswar Prasad is the Tolani Senior Professor of Trade Policy and Professor of Economics at Cornell University. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, ...
Read More
IMF Seminar Digital Money Revolution - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
CSA | Release | Oct 18, 2021 Calgary and Toronto – The Canadian Securities Administrators (CSA) today published for comment proposed climate-related disclosure requirements. The proposed requirements address the need for more consistent and comparable information to help inform investment decisions. They also demonstrate the CSA’s commitment in favour of the growing international movement toward mandatory climate-related disclosure standards. The requirements contemplate disclosure largely consistent with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. They will improve the comparability of the information issuers disclose and help investors make more informed investment decisions by enhancing climate-related disclosure. The requirements are also intended to address costs associated with reporting across multiple disclosure frameworks, improve access to global markets and facilitate an equal playing field for issuers. See:  The evolution of ESG: Corporate sustainability leaders in the financial services sector are taking on new responsibilities “We recognize some issuers already share certain climate-related information,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Our proposed requirements will bring those disclosures into a harmonized framework benefitting investors and issuers alike and aligning Canadian capital markets with the global movement towards consistent and comparable standards.” The proposed requirements ...
Read More
climage change disclosures - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
Financial Post | Jamie Golombek | Oct 14, 2021 Where, exactly, is your cryptocurrency located? It's complicated If you hold foreign property whose total cost exceeds $100,000 at any point in a tax year, you’re required to file Form T1135. The form covers the obvious things, such as your Swiss bank account or Cayman offshore investment portfolio, but it’s also required for foreign stocks, such as Apple Inc., Microsoft Corp. or Google owner Alphabet Inc., that are held in a Canadian, non-registered brokerage account. The penalty for filing late is $25 per day to a maximum of $2,500, plus arrears interest. There have been at least 20 reported cases in which taxpayers have been assessed a late-filing penalty since the 1998 introduction of Form T1135. Is cryptocurrency considered foreign property? Those questions were discussed in a recent article by William Musani and Ashvin Singh of Felesky Flynn LLP, a boutique tax law firm with offices in Alberta and Saskatchewan. They analyzed whether cryptocurrency falls under the technical definition of “specified foreign property” in the Income Tax Act, which includes “intangible property situated, deposited, or held outside Canada that is not used or held exclusively in the course of carrying on ...
Read More
Crypto taxes - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
Bloomberg | Jesse Westbrook | Oct 15, 2021 Tether will pay US$41 million to settle allegations it lied in claiming its digital tokens were fully backed by fiat currencies, putting a major compliance headache behind the world’s biggest issuer of stablecoins even as regulatory scrutiny intensifies. For years, Tether told customers and the broader cryptocurrency market that it had US$1 in reserve to back every token, the Commodity Futures Trading Commission said in a Friday statement. That claim was wildly misleading, according to the agency. For instance, from June to September 2017, there was never more than US$61.5 million backing Tether, even as more 442 million coins were circulating at one point. Read:  Tether banned on Canada’s first 2 licensed digital currency exchanges “This case highlights the expectation of honesty and transparency in the rapidly growing and developing digital assets marketplace,” said acting CFTC Chairman Rostin Behnam. Tether is widely used to trade Bitcoin and other tokens, making it pivotal to the crypto market. That’s because the coin allows quick transactions and because it’s designed to be largely immune to volatile price swings -- a function of its one-to-one peg to fiat currencies. But many traders have long been skeptical ...
Read More
Tether fined 41M - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
MarketWatch | Mark DeCambre | Oct 18, 2021 ProShares looked set to offer the first bitcoin exchange-traded fund, marking a major milestone in the crypto sector as digital assets gain greater mainstream adoption. The fund provider submitted an amended filing with the Securities and Exchange Commission on Friday for a bitcoin futures ETF that set the table for a launch soon, said Todd Rosenbluth, head of ETF and mutual fund research at CFRA, in a phone interview. See:  Bitcoin ETF option gives investors a safer and liquid way to get exposure The filing for the Bitcoin Strategy ETF points to a rollout of the fund on Tuesday. The new ETF would end a yearslong push for a approval of a bitcoin ETF that started back in 2013 and has seen scores of applications rejected by the SEC. Anticipation had been building for a bitcoin futures ETF after SEC Chairman Gary Gensler earlier this year said he supported such a structure, which he argues offers more investor protections than an ETF that is tied directly to physical bitcoin. Bitcoin has seen its price surge in anticipation of the ETF, with the value of the world’s No. 1 crypto above $61,000 up ...
Read More
ProShares bitcoin ETF approved in US - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
Vancouver Tech Journal | William Johnson | Oct 14, 2021 Bitcoin mining company MintGreen to deliver innovative low-carbon mining waste solution to heat City of North Vancouver. As part of an effort to reduce its urban carbon footprint, the City of North Vancouver and Lonsdale Energy Corporation (LEC), its district energy utility, will be introducing a novel heat source to their district energy system. MintGreen, a Burnaby-based cleantech cryptocurrency miner, will be working with LEC to provide heat to North Vancouver from bitcoin mining. How will this work? Bitcoin mining facilities produce significant amounts of heat, which until recently, would have been considered an undesirable output. To combat this, miners have gone so far as to invest in venting and cooling infrastructure to remove this heat. MintGreen, however, has built a proprietary solution to capture this heat and sell it to buyers of heat See:  El Salvador taps renewable energy from volcanoes to start mining bitcoin MintGreen calls this tech their “Digital Boilers” and says it can recover more than 96% of the electricity used for bitcoin mining in the form of heat energy that can be used to sustainably heat communities and service industrial processes. Because cryptocurrency miners run ...
Read More
mintgreen leadersrhip team 1 - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
The Law Society Gazette | | Michael Cross | Oct 14, 2021 As far as his acolytes are concerned, the ministry on earth of Satoshi Nakamoto lasted just over two years. During that time, from the end of 2008, ‘he’ - Satoshi is a male given name - published a brilliantly written white paper setting out the principles of a currency that could operate without a central authority. He also released the computer code to turn Bitcoin in to practice (written in the programming language C++) and engaged in web conversations about its debugging and development. The last public comment appeared in December 2010. Email exchanges with developers continued for a few months, but then Satoshi Nakamoto disappeared without trace. 'I’ve moved on to other things,' he wrote in April 2011. His, or their, identity remains a mystery. See:  Privacy laws might prove to be a blessing in disguise for crypto At least that is the widely accepted version of history among the mixture of geniuses, visionaries, hard-headed entrepreneurs, gullible punters and outright rogues who make up the global Bitcoin community. However a series of actions in the English courts could rewrite the authorised version. They are being brought by ...
Read More
Bitcoins mystery man - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
SEC | Martha Miller | Oct 13, 2021 If you’re taking in news by simply scanning the headlines—particularly those about capital raising activity—you’ve likely missed the story for some splashy titles. Today I’d like to delve into the story and facts behind the headlines about how entrepreneurs are raising capital from investors, deconstructing some of the big numbers we see in large print. “Entrepreneurs Should Quit Their Day Jobs; Paychecks are Irrelevant” Many assume that unless an entrepreneur is focused on their startup 100%, they’re not truly dedicated. The reality for most entrepreneurs is that sticking with their day job before their side hustle has been de-risked is not only a smart financial decision, but often a necessary one. Our Office regularly hears from minority and women entrepreneurs who talk about building their companies while maintaining a stable income stream to support their families, pay off student debt, and avoid taking on too much dilutive capital too early. Their decision is a smart one. Entrepreneurs who keep their day jobs while building their businesses are 1/3 less likely to fail than those who quit and go all in from the beginning. Wharton Professor and author Adam Grant attributes this phenomenon ...
Read More
Martha Miller - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
AngelList | Matthew Speiser | Oct 8, 2021 “The barriers to entrepreneurship and investing have never been lower, and our generation is very aware of the opportunity we have.” See:  Why is venture capital still ignoring women? The case for investing is clear. Gen Z has become the target market for many new businesses—and founders and venture firms want to work with them. Hence the rise of Gen Z VCs, an online community where young investors swap knowledge and deal flow. Gen Z VCs has grown to 10k members since launching in November 2020. “Gen Z is unique in that we’re entrepreneurial, digitally native, values-focused, and we don’t accept the status quo,” said Meagan Loyst, the 24-year-old founder of Gen Z VCs and an early-stage investor at Lerer Hippeau. Leveraging Personal Brands “More so than previous generations, Gen Zers are really great at building their brand, and that’s something that’s helped me a lot personally,” said Chang. “The whole pre-seed and seed space is about who you know, and if founders know you because of your brand, it can go a long way towards earning an allocation.” “I think we owe some of our success to the fact that more ...
Read More
Gen Z are becoming VCs - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech
Bank of England | Jon Cunliffe, Deputy Governor, Financial Stability | Oct 13, 2021 Jon Cunliffe's Speech Overview delivered at Sibos:  Jon Cunliffe looks at the impact of ‘crypto’ on the stability of the UK’s financial system.  He says unbacked crypto-assets (eg Bitcoin) and backed crypto-assets for payments (stablecoins) have begun to connect to the financial system. And he talks about how regulators are responding to their rapid growth. I want to talk today about whether the world of ‘crypto finance’ poses risks to financial stability. Cryptoassets have grown by roughly 200% in 2021, from just under $800 billion to $2.3 trillion today. They have grown from just $16 billion 5 years ago. $2.3 trillion of course needs to be seen in the context of the $250 trillion global financial system. But as the financial crisis showed us, you don’t have to account for a large proportion of the financial sector to trigger financial stability problems – sub-prime was valued at around $1.2 trillion in 2008. See:  Moody’s says Crypto regulation a plus for banks, fintechs Task Force on Financial Stability: Report release When something in the financial system is growing very fast, and growing in largely unregulated space, financial stability ...
Read More
Sir Jon Cunliffe - NCFA 2019 Conference Closes with Renewed Focus on Fostering Innovation in Fintech