Public Policy Forum | Robert Asselin and Sean Speer | April 4, 2019

Rise of the intangibles

We need a new competitiveness consensus

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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Taking part in Y Combinator from Europe: is it worth it?

September 17, 2021

Sifted | Anh-Tho Chuong | Sep 16, 2021 Precious days spent working on our application, labouring over every word, filming our one-minute video over and over. Hundreds of pages of paperwork to register the company in the US, tens of thousands of dollars of legal fees. And the biggest sacrifice of all: 7% of our company. These are all the things we had to give away to have a chance at participating in the world’s most famous accelerator programme, Y Combinator. We breathed a sigh of relief when we got the email telling us we had a spot. But what’s Y Combinator really like for a European company? And is the intense programme really worth it? YC or not YC: our rationale Capital has become increasingly abundant in the European ecosystem, especially for experienced operators like my cofounders and myself; I was the first employee and VP Growth of Qonto, a European fintech unicorn. So naturally, we considered taking a term sheet for a pre-product seed round when we created the company in March 2021. That would have given us a secure runway for the next two years so we could focus on building. On the other hand, joining YC ...
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UK OBIE Banking tech chief faces claims of bullying

September 17, 2021

The Telegraph | Simon Foy | Sep 17, 2021 The competition regulator is probing a slew of allegations of bullying, sexism and intimidation against the head of the unit it set up to deliver a tech revolution in Britain’s banking sector. Directors at the Competition and Markets Authority are examining an independent inquiry into claims against Imran Gulamhuseinwala, the trustee of the Open Banking Implementation Entity (OBIE). The initiative, championed by George Osborne, chancellor at the time, was established with industry funding in 2016 to boost innovation and fintech start-ups by encouraging big banks to share customer information. Now as many as 49 witnesses have alleged that a culture of bullying, intimidation and sexism exists at the OBIE. They cited incidents where Mr Gulamhuseinwala and other managers allegedly swore and shouted at colleagues. Andrea Coscelli, chief executive of the CMA, is leading an emergency board committee alongside non-executive Jonathan Scott, a former senior partner at the City law firm Herbert Smith Freehills. They have been tasked with deciding the “appropriate action to take”, according to documents seen by The Sunday Telegraph. Read:  Emotionally Intelligent Minds Know How to Bridge the Perspective Gap It comes after the regulator last year hired ...
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Emotionally Intelligent Minds Know How to Bridge the Perspective Gap

September 17, 2021

Inc. | Justin Bariso | Sep 17, 2021 How can you negotiate effectively, persuade, and influence others? By connecting them to your feelings. What's the perspective gap? The perspective gap (also known as an empathy gap) is a common occurrence in which one dramatically underestimates the effects of a psychologically or physically intense situation. See:  Manager and machine: The new leadership equation Usually, we think we understand a certain set of circumstances--even if we've never experienced them--but we really have no idea. Other times, we've actually experienced something similar to what another person is describing, but the way we remember handling the situation is much better than we actually did. The perspective gap explains why physicians consistently miss the mark when attempting to estimate their patients' level of pain, or why we find it so challenging to put ourselves in the shoes of a colleague, or even a family member. Here are two lessons: Don't be like Ford.  There are likely people at work right now who are trying hard to get you to understand the problems they're facing. They're trying to get your support. It's easy to dismiss those people with expressions like: Toughen up. It's not that big of ...
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Oct 13, 2021: OSC virtual roundtable on ‘Rethinking Diversity in Capital Markets’

September 16, 2021

OSC | Aug 25, 2021 (last updated Sep 16) The OSC is hosting a virtual roundtable to discuss whether, and how, the disclosure needs of Canadian investors, and corporate governance practices among public companies have evolved.  Panelists will speak about the benefits, challenges and experiences associated with the consideration of broader diversity on boards and in executive officer positions, with a specific focus on diversity data, targets and term limits. The panelists include representatives of issuers, investors and advocacy groups, as well as governance experts. Event Details Oct 13, 2021 10:00 am  - 11:30 am Virtual Event (Webinar) The roundtable is open to the public; register and receive a link to watch the webinar The Ontario Securities Commission (OSC) will host a virtual roundtable on Wednesday, October 13 from 10:00 a.m. - 11:30 a.m. ET to discuss broader diversity (beyond gender) on boards and in executive officer positions, with a specific focus on targets, term limits and diversity data. The OSC has convened an expert panel to explore the benefits, challenges and experiences associated with the consideration of broader diversity, as well as evolving corporate governance practices and disclosure needs of Canadian investors. The roundtable panellists are: Rahul Bhardwaj, ICD.D, President ...
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What are construction loans and how do they work?

September 16, 2021

Guest Post | Sep 16, 2021 A construction loan is a kind of short-term financing provided by a bank that is used to finance the purchase of a new house or other real estate projects. A conventional mortgage, also known as a permanent loan, can assist you in purchasing an existing home. A construction loan, on the other hand, may be useful if you need to build a new home from the ground up, particularly if you also need to buy the raw land. Check out pomwaterproofing.ca for more information on construction loans.  How Do Home Improvement Loans Work? If you are thinking of constructing a house, you are probably thinking about a piece of land or a newly built community. As a result, most construction loans cover both the cost of the land and the cost of the building. Because of this additional complexity, building loans need greater lender participation than conventional house loans. Lenders will want to examine your construction plans, including an anticipated timeline and budget. These strategies will assist you in determining how much money you need for the loan. Once you have obtained a loan, the lender will pay the builder at regular intervals following ...
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“It’s absolutely mad if you think about it” — the need to rethink what we value

September 15, 2021

MaRS | Molly Shoichet  | Sep 8, 2021 Health innovation has been the story of COVID, but economist Mariana Mazzucato says we’re still not doing it right. We need to redesign procurement, rethink old narratives and reassess the value of public investment. Mariana Mazzucato is one of the world’s most influential economists — professor at University College London, founder of the Institute for Innovation and Public Purpose and author of books rejecting business’s monopoly on risk-taking and value creation. Molly Shoichet: The COVID economy has had an outsized impact on women and racialized communities. What is the connection between public health and a healthy economy? Mariana Mazzucato: We hear it’s important to invest in health, it’s good for the economy. But in my work as chair of the World Health Organization’s Council on the Economics of Health for All, we want to determine the actual goal we’re trying to achieve. COVID-19 has woken us up to the fact that we don’t have health for everybody. It’s not enough to have a vaccine if not everyone has access to it. So, if our ambition is health for all, how do we set up our economy? Outcomes-oriented budgeting? Procurement processes and budgets? ...
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Top US regulator tells crypto exchanges they need to ‘come in and talk to us’

September 15, 2021

Business Insider | Harry Robertson  | Sep 14, 2021 Securities and Exchange Commission boss Gary Gensler has said crypto exchanges need to "come in and talk" to the markets regulator, just days after clashing with trading platform Coinbase over one of its products. Gensler will appear before the Senate banking committee on Tuesday and used his prepared remarks to increase the pressure on crypto exchanges, which he has previously said he would like to regulate more closely. See:  Coinbase Threat Shows SEC Means Business The SEC boss said exchanges need to register with the Commission, because some of their tokens or products may be securities. That's unlike bitcoin, which regulators think is more like a commodity. Gensler said: "I've suggested that platforms and projects come in and talk to us. Many platforms have dozens or hundreds of tokens on them.  While each token's legal status depends on its own facts and circumstances, the probability is quite remote that, with 50, 100, or 1,000 tokens, any given platform has zero securities.  Make no mistake: To the extent that there are securities on these trading platforms, under our laws, they have to register with the Commission unless they qualify for an exemption." ...
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Digital Euro Report: Design considerations facing the European Central Bank

September 14, 2021

Internet Economy Foundation | Clark Parsons | Sep 8, 2021 New Study Highlights the Key Design Choices Facing the European Central Bank and Makes Recommendations for Building an Innovation-Compatible Digital Euro Berlin, 08. Sept., 2021 – If money is now completely programmable, how should a digital Euro be established? This is the question addressed by Establishing a Digital Euro – How to Ensure Financial Sovereignty in the Digital Realm, a new joint study published by the Internet Economy Foundation, Lakestar, Chainlink and iconomy. Read:  JP Morgan warns CBDC could mean banks lose 20-30% of funding In the wake of the European Central Bank’s announcement in July 2021 that it will begin the process of developing a digital Euro, this new study explains the key design decisions that lie ahead and how each of them can potentially affect the longstanding structures of the monetary and financial systems. It also recommends important guidelines for the ECB to ensure that a digital Euro addresses Europe’s current weakness in global financial services and strengthens Europe’s booming ecosystem of innovation in FinTech, Decentralized Finance (DeFi) and emerging sectors. The policy recommendations are: ● Create the Digital Euro with a focus on European Financial Sovereignty. ● ...
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Why is venture capital still ignoring women? The case for investing is clear.

September 14, 2021

Pioneers Post | Tove Ahlström and Sofia Breitholtz  | Aug 26, 2021 It could take an astonishing 200 years to close the global gender gap, if we continue on our current path. Yet the evidence is clear: backing female-led businesses is a ticket to prosperity for everyone. As the world seeks solutions for post-pandemic recovery, it’s time for investors to put their money where their mouths are. A disheartening 3% of global venture capital went to female founders in 2019, and the figures for women from minority groups are even more dismaying, a 2020 report by Crunchbase shows. During the Covid-19 pandemic, the outlook worsened still, with venture funding to female-founded enterprises plummeting % worldwide. See:  Women In Fintech Will Play A Crucial Part In The Covid-19 Recovery Plan Global challenges, like the Covid-19 pandemic or the climate crisis, have more direct consequences for vulnerable groups in society, who are already subject to uneven distribution of resources, oppression and marginalisation. As the world turns to solutions and strategies for recovery in a post-pandemic reality, investors and politicians need to put their money where their mouths are – and they might benefit, too. Everyone’s ticket to prosperity Women are powerful catalysts for development. Data ...
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On the Brink Podcast: George Selgin of the Cato Institute on Stablecoins, Bitcoin and Free Banking

September 14, 2021

On the Brink Podcast | Aug 2, 2021 George Selgin, director of the Center of Monetary Alternatives at the Cato Institute joins the show to discuss Bitcoin, Free Banking, and stablecoins. In this episode: Why George refers to Bitcoin as a synthetic commodity money Why George was excited by the possibility for synthetic commodity money What conditions would have to hold for Bitcoin to be considered money Why money is a spectrum rather than binary Are stablecoins prone to bank runs? Is Tether’s melange of underlying collateral sufficient? How should stablecoins be regulated? Why are regulators looking into stablecoins today? See:  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 Minister Freeland releases final report with 34 recommendations on Open Banking from the Advisory committee Comparing stablecoins to Money Market Mutual Funds Why money market funds broke the buck in 08 Are stablecoins as systemic as money market funds? George’s objections to Gorton and Zhang’s paper on free banking and stablecoins George’s definition of free banking Was the 1830s-60s period in the U.S. a period of genuine free banking? The ...
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