David Durand, Advisor, Innovation and Advocacy
September 9th, 2020
David Durand, LL.L., B.Sc. chem., – Founder and Managing Partner of Durand Lawyers – Lawyer (Québec)[...]
When the Tide Goes Out: Big Questions for Crypto in 2019
Coindesk | Gary Gensler | Dec 17, 2018
Gary Gensler is a former chairman of the Commodity Futures Trading Commission under President Barack Obama, a Senior advisor to the MIT Media Lab Digital Currency Initiative and Senior Lecturer at the MIT Sloan School of Management, where he currently teaches several classes on blockchain technology and crypto finance.
After this year’s wild market ride and so many failed projects, what might Satoshi Nakamoto’s innovative “Bitcoin: A Peer-to-Peer Electronic Cash System” mean for money and finance in 2019 and beyond?
Satoshi’s innovation – the use of append-only timestamped logs, secured by cryptography, amongst multiple parties, forming consensus on a shared ledger – needs to be taken seriously. The resulting blockchains of data can form widely verifiable peer-to-peer databases.
For any chance of a lasting role in the long evolution of money, though, blockchain applications and crypto assets have to deliver real economic results for users. And while bringing the crypto finance markets within public policy norms is critical, the greatest challenge remains the seriousness of commercial use cases.
A bunch of hype masquerading as fact won’t do it.
What We’ve Learned
Blockchain technology and crypto tokens provide an alternative means to move value on the Internet without relying upon a central intermediary. They promise the potential to lower verification and networking costs, ranging from censorship, privacy, reconciliation and settlement costs to the costs of jump starting and maintaining a network.
These features tie blockchain technology and cryptocurrencies directly to the essential plumbing of the financial sector, which at its core has the role of efficiently moving, allocating and pricing money and risk within an economy. It could lower costs, risks and economic rents in the financial system, which represents 7.5 percent of U.S. GDP.
See: Experts predict the five big fintech trends of 2019
To do so, though, blockchain technology must address its many technical and commercial challenges – scalability, efficiency, privacy, security, interoperability and governance. Industry reforms and regulations also must bring order to the markets surrounding this technology, especially for crypto exchanges and initial coin offerings.
In the meantime, the financial sector is mainly exploring private blockchain applications – without native tokens – built on software such as Hyperledger Fabric, R3 Corda or Quorum.
Any use case’s value proposition needs to be rigorously compared with simply using a traditional data base. In particular, any token offering must address how it will sustainably lower verification or networking costs – how such crypto asset benefits users more than simply using broadly accepted fiat currencies. While money is but a social construct, its history tells us that there are overwhelming network benefits when a currency is widely used and accepted for all three roles of money – as a unit of account, medium of exchange and store of value.
In essence, how might any blockchain technology project or any initial coin offering’s (‘ICO’) proposed token be more than simply a means to raise cheap money from the public? In 2019 and beyond, venture capitalists, large incumbents and crypto investors will likely be more discerning and rigorous in their investments and projects.
Public Policy Frameworks
The crypto finance markets can only gain public confidence and reach their potential by coming within long-established public policy frameworks. As with any other technology, we must guard against illicit activities, such as tax evasion, money laundering, terrorist financing and avoiding sanctions.
We must promote fair and open competition while ensuring for financial stability. We must protect investors and consumers.
While criminals have often exploited the existing financial system for money laundering, cryptocurrencies have given bad actors new ways to conduct old crimes. Dark markets conduct sales of illegal drugs and other contraband using cryptocurrencies. State actors, such as Venezuela, Russia, and Iran have used crypto finance to undermine U.S. policies. Additionally, cryptocurrencies add new challenges to global tax compliance.
What investor protection does exist in crypto markets seems little more than an effort to stay ahead of law enforcement’s and regulators’ attention.
Crypto Exchanges
Most crypto exchanges are unregistered. Manipulative behavior goes unchecked and billions of dollars in customers’ tokens have been stolen. Compared to traditional financial exchanges, they lack intermediation through regulated broker-dealers. Further, according to CryptoCompare’s October Exchange Review, only 47 percent of exchanges impose strict know-your-customer (‘KYC’) requirements.
See: Crypto Bear Market Gives UK Regulators Breathing Space to Finalize Crypto Regulation
Safeguards to date – treating crypto exchanges and digital wallet providers through money transmission laws in the same manner as Western Union or MoneyGram – are unsatisfactory.
Crypto exchanges are trading venues and need be treated as such, with mandated investor protections in place. Front running and other manipulative behavior needs to be banned. Exchanges need to fully comply with anti-money laundering laws and seriously fix or consider spinning off their custodial functions.
In 2019 and beyond, we will see multiple exchanges register in the U.S. – those trading ICO tokens will register as broker-dealers under Regulation ATS and Intercontinental Exchange’s new Bakkt exchangewill register and operate under the Commodities Exchange Act.
We’re also likely to see declining operating margins and consolidation in the more than 200 crypto exchanges.
Initial Coin Offerings
Of the thousands of ICOs to date, many have failed, and investors have lost billions. A recent EY studyreported that through the third quarter of 2018, 86 percent of the top ICOs of 2017 were trading below their listing price and only 13 percent actually have a working product.
Filecoin, for instance, raised over $250 million in October 2017 but is not due to go live until mid-2019. Academic and market studies also have found the ICO market rife with scams and frauds.
Debates have raged around the globe about how cryptocurrencies, and particularly ICOs, fit within existing securities, commodities and derivatives laws. Many contend that so-called ‘utility tokens’ sold for future consumption are not investment contracts – but this is a false distinction.
See: New eToro Survey Reveals Strong Interest in Cryptoasset Education, Despite Market Downturn
By their very design, ICOs mix economic attributes of both consumption and investment. ICO tokens’ realities – their risks, expectation of profits, reliance on the efforts of others, manner of marketing, exchange trading, limited supply, and capital formation — are attributes of investment offerings.
In the U.S., nearly all ICOs would meet the Supreme Court’s ‘Howey Test’ defining an investment contract under securities laws. As poet James Whitcomb Riley wrote over 100 years ago: “When I see a bird that walks like a duck and swims like a duck and quacks like a duck, I call that bird a duck.”
In 2019, we’re likely to continue seeing high ICO failure rates while funding totals decline. Regulators and the courts will bring added clarity to the market through increased numbers of enforcement cases and related private litigation.
Central Banks
Central banks are studying blockchain technology and crypto markets with one eye on financial stability and another eye on what it means for the fiat currencies they issue and oversee.
Canada’s project Jasper and Singapore’s project Ubin are exploring use of permissioned blockchain applications to update payment systems.
See: IMF: Nations Need to Consider a Central Bank Backed Cryptocurrency
While the policy challenges are significant, some Central Banks also are considering giving the public access to central bank payment systems and digital reserves through so-called ‘central bank digital currency’ (CBDC). Two countries’ review – one strong and one in distress – are noteworthy. In Sweden, use of paper-based Krona has declined and the Riksbank, the world’s oldest central bank, is pursuing an e-Krona project to provide electronic central bank money directly to the public.
Venezuela, facing hyperinflation, economic instability, and sanctions is promoting public use of a purportedly oil-backed token, Petro, though there are reports that seriously question the token’s legitimacy.
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, 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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CONGRATULATIONS TO THE 2020 FINTECH DRAFT PITCHING AND DEMO COMPANY WINNERS!   |
UK Government | Department of Digital, Culture, Media and Sport | Nov 16, 2020 Opening remarks from the Minister for Digital Infrastructure, detailing the government's plans for digital identity in the UK Good morning. It’s a great pleasure to be invited to speak at Identity Week 2020. I truly believe that digital identity is one of the most exciting opportunities for growth and security in the UK economy, and I am excited to share my vision with you today. Digital identity products are a vital building block for the economy of the future. They will enable smoother, cheaper, and more secure online transactions; they will simplify people’s lives, and boost business. Digital identity solutions can also ensure that people have greater control of their identity data, and provide greater security and privacy standards. See: FFCON Week 5 Wrap-up: Digital Identity & Convergence Marketplaces It has the capacity to allow more people to open a bank account, to allow more people to start a new job faster, and to improve the safety and security of travel both within and beyond the UK — whether for business or pleasure. Covid-19 has increased the demand for online services: 63% of people are learning ...
Read More
Norton Rose Fulbright | Walied Soliman | Nov 23, 2020 The following is an abridged version of a keynote speech given by Walied Soliman, Canadian Chair of Norton Rose Fulbright Canada LLP and Chair of the Capital Markets Modernization Taskforce, at the OSC Dialogue Conference on November 4, 2020. Whenever I speak about the capital markets, I like to reflect on the incredible privilege we have of being practitioners and stakeholders in this area. In just over 100 years, Ontario has developed what is widely regarded as one of the most sophisticated capital markets regulatory frameworks in the world. Ontario was five years ahead of the federal government in the United States in regulating the capital markets in an organized manner. We were ahead. We cannot fall behind. It was with this backdrop that Premier Doug Ford and Minister Rod Phillips had the vision to form the Capital Markets Modernization Taskforce, reporting to the Minister of Finance, to conduct a broad review of the state of our capital markets in Ontario and determine what we can do to modernize the regulatory framework and ensure that we continue to be global leaders. See: Big Changes In Financial Regulation: Dialogue With The ...
Read More
Lenczner Slaght | Shara N. Roy and Isabel Dávila Pereira | Nov 12, 2020 On November 4, 2020, the Ontario Securities Commission (OSC) held its annual OSC Dialogue. Financial industry leaders, senior regulators and investors came together virtually to discuss changes in the industry and how they are working together. This year, the current COVID-19 global pandemic informed both the virtual setting for and the theme of the OSC Dialogue. The main theme of the discussion was the link between the world's physical and financial health brought forth by the pandemic. The OSC Dialogue was divided into five sessions, and in spite of the different topics and perspectives, one key issue was at the forefront of the discussion: the role of the OSC in fostering economic growth, adapting to technological innovation, and incorporating principles of Environmental, Social and Corporate Governance (ESG). The Capital Markets Modernization Taskforce and the Expansion of the OSC's Role In February of this year, the Ontario government established the Capital Markets Modernization Taskforce, which is in charge of making recommendations to the Minister of Finance for the review and modernization of the province's capital markets regulations. Walied Soliman, Taskforce Chair and Canadian Chair of Norton Rose ...
Read More
ASC | Denise Weeres | Nov 20, 2020 Calgary – The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) are seeking input on a proposed new prospectus exemption designed to provide greater access to capital for Alberta and Saskatchewan businesses and broaden investment opportunities for Alberta and Saskatchewan investors. “As our provinces are dealing with the economic impact of the pandemic, we are looking for new ways to better facilitate access to capital, while still protecting investors,” said Roger Sobotkiewicz, Chair and CEO of the FCAA. “Efforts are being taken to adapt our existing industries and diversify our economies. By innovating as regulators we can help support the growth of the innovation economy,” added Stan Magidson, Chair and CEO of the ASC.” The proposed new self-certified investor prospectus exemption would allow investment by investors who certify to having certain financial and investing experience and education, and acknowledge certain investment considerations and risks. To reduce the risks to investors, investments would be limited in a 12-month period to $10,000 in any one business and $30,000 across multiple businesses. See: ASC Updates Raising Capital for Small Businesses Resource: Fostering Alberta’s New Economy ASC adopts Start-up Crowdfunding ...
Read More
The Verge | Dieter Bohn | Nov 18, 2020 It (Google Pay) will include tap-to-pay, peer-to-peer, personal finance aggregation, customizable deals, and even full banking services Today, Google Pay for both Android and iOS is relaunching with a giant array of new features. It turns the app from something that most people think of as a tap-to-pay card repository or peer-to-peer payment system into a much more ambitious service. The new app begins rolling out across the United States today. The new version of the app will have three new tabs: “Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your bank accounts to get a searchable overview of your finances. You will even be given the option to allow Google Pay to crawl your Gmail inbox and your Google Photos account to look for receipts. Google will use OCR technology to auto-scan them and integrate them into your finance tracking. In 2021, Google will partner with some banks to directly offer fully online checking and savings accounts inside Google Pay — a service ...
Read More
Fortune via Bloomberg | Nov 18, 2020 The U.S. Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off U.S. stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down. By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies for not complying with U.S. auditing rules, according to people familiar with the matter. Agency officials have been moving quickly on a rule since August, when the President’s Working Group on Financial Markets -- a regulatory council whose members include SEC Chairman Jay Clayton and Treasury Secretary Steven Mnuchin -- urged the regulator to pass new restrictions that could take effect as soon as 2022, said the people who asked not to be named in discussing private deliberations. See: Magic Johnson Selling Gels Shows Why Alibaba Escaped Trump At issue is a problem that has vexed U.S. regulators for more than a decade: China’s refusal to let inspectors from the Public Company Accounting Oversight Board review audits of Alibaba Group Holding Ltd., Baidu Inc. and other firms that trade on American markets. The issue has ...
Read More
Financial Literacy Committee You're invited - Event Details Thursday, November 26, 2020 1:00 PM EST Register for this event --> here As we mark the 10th anniversary of Financial Literacy Month, the Financial Consumer Agency of Canada (FCAC) is pleased to invite you to a dynamic event organized specifically for financial literacy stakeholders. This 90-minute session will focus on innovative, research-based approaches to financial literacy and feature guest speakers who will share expert insights and perspectives, followed by a panel discussion. Moderator: Supriya Syal, Deputy Commissioner, Research, Policy and Education, FCAC Panelists: Rebecca Balcerzak, Senior Project Officer, Families Canada Ruth Stephen, Director, Strategic Policy, Research & Experimentation, FCAC Rim Charkani, CEO, WALO Dilip Soman, Director, Behavioural Economics in Action Research Centre Rotman School of Management 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, ...
Read More
Luge Capital | Gisele Karekezi | Nov 18, 2020 Luge Capital just released our Status of the Canadian InsurTech Landscape report today. It is an in-depth analysis of InsurTech technology trends, startup activities, venture funding as well as Luge’s perspective on future innovation and investment opportunities in the Canadian insurance industry. You can check out the report HERE. We are also hosting a webinar event to dig deeper into InsurTech investment trends and future opportunities with speakers from Liberty Mutual Strategic Ventures, Anthemis Group, Manulife Capital Ventures and Eos Venture Partners on December 1st, 4pm ET. We would love to have you join us. Register 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 ...
Read More
McKinsey & Company | Jason Li and Joydeep Sengupta | Nov 17, 2020 Expect digital to further blur industry lines, supercharge scalability, and loosen geographical restraints for professional services, says Jessica Tan. Ping An is the archetypal example of how today’s Asian powerhouses succeed by creating, participating in, and exploiting digital ecosystems. Founded in 1988 as an insurance company in the then-rapidly developing city of Shenzhen, Ping An has since grown to become China’s largest non-State-owned conglomerate by revenue (1.169 trillion RMB [$174 billion] in 2019), with portfolio companies spanning automobile services, financial services, healthcare, and smart city solutions. Early investments in digital technologies such as artificial intelligence (AI), blockchain, and cloud infrastructure help Ping An serve more than 214 million retail customers and nearly 579 million internet users across China. As chief information officer from 2013 to 2019, Jessica Tan was a key architect of Ping An’s digital-ecosystem-based business model. In an interview with McKinsey’s Jason Li and Joydeep Sengupta, Tan shared her thoughts on how the digital transformation will affect professional services, the synergies that big and small companies can share in digital ecosystems, and the ways in which she’s reimagining Ping An’s organizational structure and leadership selection ...
Read More
Guest Post | Amanda Dudley | Nov 17, 2020 Nowadays, the way we work is being redefined. The days when companies had a physical space where employees showed up every day are giving way to modern approaches to work. Since COVID-19 came into the picture, many professionals now work from home. Globally distributed teams are becoming the order of the day. Whether it is in the essay writing service industry or the design world, remote work is now the way to go. The fact that many content creation companies are adopting remote working conditions shows that there are several benefits to this approach. But every good change comes with a few worries. One of the most prominent issues in this regard has to do with getting a team of individuals that have never met one another to work cohesively. The good news is that this article shares a few tricks to help content managers and team leaders better manage a remote team of content writers. Content managers are advised to try out the techniques discussed in this article and use the ones that work for them. Should Employers Consider a Remote Team of Content Writers? Before discussing how to keep ...
Read More
UK Government | Department of Digital, Culture, Media and Sport | Nov 16, 2020 Opening remarks from the Minister for Digital Infrastructure, detailing the government's plans for digital identity in the UK Good morning. It’s a great pleasure to be invited to speak at Identity Week 2020. I truly believe that digital identity is one of the most exciting opportunities for growth and security in the UK economy, and I am excited to share my vision with you today. Digital identity products are a vital building block for the economy of the future. They will enable smoother, cheaper, and more secure online transactions; they will simplify people’s lives, and boost business. Digital identity solutions can also ensure that people have greater control of their identity data, and provide greater security and privacy standards. See: FFCON Week 5 Wrap-up: Digital Identity & Convergence Marketplaces It has the capacity to allow more people to open a bank account, to allow more people to start a new job faster, and to improve the safety and security of travel both within and beyond the UK — whether for business or pleasure. Covid-19 has increased the demand for online services: 63% of people are learning ...
Read More
Read More
Norton Rose Fulbright | Walied Soliman | Nov 23, 2020 The following is an abridged version of a keynote speech given by Walied Soliman, Canadian Chair of Norton Rose Fulbright Canada LLP and Chair of the Capital Markets Modernization Taskforce, at the OSC Dialogue Conference on November 4, 2020. Whenever I speak about the capital markets, I like to reflect on the incredible privilege we have of being practitioners and stakeholders in this area. In just over 100 years, Ontario has developed what is widely regarded as one of the most sophisticated capital markets regulatory frameworks in the world. Ontario was five years ahead of the federal government in the United States in regulating the capital markets in an organized manner. We were ahead. We cannot fall behind. It was with this backdrop that Premier Doug Ford and Minister Rod Phillips had the vision to form the Capital Markets Modernization Taskforce, reporting to the Minister of Finance, to conduct a broad review of the state of our capital markets in Ontario and determine what we can do to modernize the regulatory framework and ensure that we continue to be global leaders. See: Big Changes In Financial Regulation: Dialogue With The ...
Read More
Read More
Lenczner Slaght | Shara N. Roy and Isabel Dávila Pereira | Nov 12, 2020 On November 4, 2020, the Ontario Securities Commission (OSC) held its annual OSC Dialogue. Financial industry leaders, senior regulators and investors came together virtually to discuss changes in the industry and how they are working together. This year, the current COVID-19 global pandemic informed both the virtual setting for and the theme of the OSC Dialogue. The main theme of the discussion was the link between the world's physical and financial health brought forth by the pandemic. The OSC Dialogue was divided into five sessions, and in spite of the different topics and perspectives, one key issue was at the forefront of the discussion: the role of the OSC in fostering economic growth, adapting to technological innovation, and incorporating principles of Environmental, Social and Corporate Governance (ESG). The Capital Markets Modernization Taskforce and the Expansion of the OSC's Role In February of this year, the Ontario government established the Capital Markets Modernization Taskforce, which is in charge of making recommendations to the Minister of Finance for the review and modernization of the province's capital markets regulations. Walied Soliman, Taskforce Chair and Canadian Chair of Norton Rose ...
Read More
Read More
ASC | Denise Weeres | Nov 20, 2020 Calgary – The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) are seeking input on a proposed new prospectus exemption designed to provide greater access to capital for Alberta and Saskatchewan businesses and broaden investment opportunities for Alberta and Saskatchewan investors. “As our provinces are dealing with the economic impact of the pandemic, we are looking for new ways to better facilitate access to capital, while still protecting investors,” said Roger Sobotkiewicz, Chair and CEO of the FCAA. “Efforts are being taken to adapt our existing industries and diversify our economies. By innovating as regulators we can help support the growth of the innovation economy,” added Stan Magidson, Chair and CEO of the ASC.” The proposed new self-certified investor prospectus exemption would allow investment by investors who certify to having certain financial and investing experience and education, and acknowledge certain investment considerations and risks. To reduce the risks to investors, investments would be limited in a 12-month period to $10,000 in any one business and $30,000 across multiple businesses. See: ASC Updates Raising Capital for Small Businesses Resource: Fostering Alberta’s New Economy ASC adopts Start-up Crowdfunding ...
Read More
Read More
The Verge | Dieter Bohn | Nov 18, 2020 It (Google Pay) will include tap-to-pay, peer-to-peer, personal finance aggregation, customizable deals, and even full banking services Today, Google Pay for both Android and iOS is relaunching with a giant array of new features. It turns the app from something that most people think of as a tap-to-pay card repository or peer-to-peer payment system into a much more ambitious service. The new app begins rolling out across the United States today. The new version of the app will have three new tabs: “Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your bank accounts to get a searchable overview of your finances. You will even be given the option to allow Google Pay to crawl your Gmail inbox and your Google Photos account to look for receipts. Google will use OCR technology to auto-scan them and integrate them into your finance tracking. In 2021, Google will partner with some banks to directly offer fully online checking and savings accounts inside Google Pay — a service ...
Read More
Read More
Fortune via Bloomberg | Nov 18, 2020 The U.S. Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off U.S. stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down. By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies for not complying with U.S. auditing rules, according to people familiar with the matter. Agency officials have been moving quickly on a rule since August, when the President’s Working Group on Financial Markets -- a regulatory council whose members include SEC Chairman Jay Clayton and Treasury Secretary Steven Mnuchin -- urged the regulator to pass new restrictions that could take effect as soon as 2022, said the people who asked not to be named in discussing private deliberations. See: Magic Johnson Selling Gels Shows Why Alibaba Escaped Trump At issue is a problem that has vexed U.S. regulators for more than a decade: China’s refusal to let inspectors from the Public Company Accounting Oversight Board review audits of Alibaba Group Holding Ltd., Baidu Inc. and other firms that trade on American markets. The issue has ...
Read More
Read More
Financial Literacy Committee You're invited - Event Details Thursday, November 26, 2020 1:00 PM EST Register for this event --> here As we mark the 10th anniversary of Financial Literacy Month, the Financial Consumer Agency of Canada (FCAC) is pleased to invite you to a dynamic event organized specifically for financial literacy stakeholders. This 90-minute session will focus on innovative, research-based approaches to financial literacy and feature guest speakers who will share expert insights and perspectives, followed by a panel discussion. Moderator: Supriya Syal, Deputy Commissioner, Research, Policy and Education, FCAC Panelists: Rebecca Balcerzak, Senior Project Officer, Families Canada Ruth Stephen, Director, Strategic Policy, Research & Experimentation, FCAC Rim Charkani, CEO, WALO Dilip Soman, Director, Behavioural Economics in Action Research Centre Rotman School of Management 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, ...
Read More
Read More
Luge Capital | Gisele Karekezi | Nov 18, 2020 Luge Capital just released our Status of the Canadian InsurTech Landscape report today. It is an in-depth analysis of InsurTech technology trends, startup activities, venture funding as well as Luge’s perspective on future innovation and investment opportunities in the Canadian insurance industry. You can check out the report HERE. We are also hosting a webinar event to dig deeper into InsurTech investment trends and future opportunities with speakers from Liberty Mutual Strategic Ventures, Anthemis Group, Manulife Capital Ventures and Eos Venture Partners on December 1st, 4pm ET. We would love to have you join us. Register 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 ...
Read More
Read More
McKinsey & Company | Jason Li and Joydeep Sengupta | Nov 17, 2020 Expect digital to further blur industry lines, supercharge scalability, and loosen geographical restraints for professional services, says Jessica Tan. Ping An is the archetypal example of how today’s Asian powerhouses succeed by creating, participating in, and exploiting digital ecosystems. Founded in 1988 as an insurance company in the then-rapidly developing city of Shenzhen, Ping An has since grown to become China’s largest non-State-owned conglomerate by revenue (1.169 trillion RMB [$174 billion] in 2019), with portfolio companies spanning automobile services, financial services, healthcare, and smart city solutions. Early investments in digital technologies such as artificial intelligence (AI), blockchain, and cloud infrastructure help Ping An serve more than 214 million retail customers and nearly 579 million internet users across China. As chief information officer from 2013 to 2019, Jessica Tan was a key architect of Ping An’s digital-ecosystem-based business model. In an interview with McKinsey’s Jason Li and Joydeep Sengupta, Tan shared her thoughts on how the digital transformation will affect professional services, the synergies that big and small companies can share in digital ecosystems, and the ways in which she’s reimagining Ping An’s organizational structure and leadership selection ...
Read More
Read More
Guest Post | Amanda Dudley | Nov 17, 2020 Nowadays, the way we work is being redefined. The days when companies had a physical space where employees showed up every day are giving way to modern approaches to work. Since COVID-19 came into the picture, many professionals now work from home. Globally distributed teams are becoming the order of the day. Whether it is in the essay writing service industry or the design world, remote work is now the way to go. The fact that many content creation companies are adopting remote working conditions shows that there are several benefits to this approach. But every good change comes with a few worries. One of the most prominent issues in this regard has to do with getting a team of individuals that have never met one another to work cohesively. The good news is that this article shares a few tricks to help content managers and team leaders better manage a remote team of content writers. Content managers are advised to try out the techniques discussed in this article and use the ones that work for them. Should Employers Consider a Remote Team of Content Writers? Before discussing how to keep ...
Read More
Read More
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