NCFA Blockchain Fintech CONFIDENTIAL (Vol 1, Issue 1)
The National Crowdfunding & Fintech Association of Canada (NCFA) and exclusive Title Partner of the 4th VanFUNDING conference held in downtown Vancouver Nov 29-30, 2018, TODA Network, are proud to present select content in an inaugural pop-up digital magazine format. This year’s theme, CONVERGE, immerses participants and builds bridges across the most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities toward the vision of a Web 3.0. The world is undergoing unprecedented change that is already affecting our daily lives — how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, store, transfer, and purchase anything of value. Blockchain’s momentum is not slowing down anytime soon and its capabilities for revolutionizing the financial industry go beyond merely eliminating the “middleman” to harnessing the power to improve fraud detection, transparency and trust, and enhance financial management, change the nature of money and encourage financial inclusivity. The potential is limitless. While blockchain technology has shown immense potential to push us closer towards a utopian financial world, the global penetration of [this technology] is less than 0.2 per cent. While individuals should remain cautious about fraudulent businesses that have arisen from people looking to cash in on the hype, the next wave of blockchain adoption and utilization will be like a tsunami, [where] you can partake in what's yet to be the most disruptive technology in human history or ignore it and get disrupted. We’d like to thank all the partners, speakers, attendees, volunteers and the entire organizing team for coming together to make VF2018 an incredible experience. Congratulations to Symend, Very Good Butchers and MOCA Estimator and for winning the pitching competition. We wish you all great success! The commercialization of emerging technologies is a journey, not a sprint. With this in mind, we encourage you to converge with us in volume 1, issue 1 of ‘Blockchain Fintech CONFIDENTIAL’ and step inside the future of blockchain, fintech, AI and alternative investing.
The National Crowdfunding & Fintech Association of Canada (NCFA) and exclusive Title Partner of the 4th VanFUNDING conference held in downtown Vancouver Nov 29-30, 2018, TODA Network, are proud to present select content in an inaugural pop-up digital magazine format.
This year’s theme, CONVERGE, immerses participants and builds bridges across the most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities toward the vision of a Web 3.0.
The world is undergoing unprecedented change that is already affecting our daily lives — how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, store, transfer, and purchase anything of value.
Blockchain’s momentum is not slowing down anytime soon and its capabilities for revolutionizing the financial industry go beyond merely eliminating the “middleman” to harnessing the power to improve fraud detection, transparency and trust, and enhance financial management, change the nature of money and encourage financial inclusivity. The potential is limitless.
While blockchain technology has shown immense potential to push us closer towards a utopian financial world, the global penetration of [this technology] is less than 0.2 per cent. While individuals should remain cautious about fraudulent businesses that have arisen from people looking to cash in on the hype, the next wave of blockchain adoption and utilization will be like a tsunami, [where] you can partake in what's yet to be the most disruptive technology in human history or ignore it and get disrupted.
We’d like to thank all the partners, speakers, attendees, volunteers and the entire organizing team for coming together to make VF2018 an incredible experience. Congratulations to Symend, Very Good Butchers and MOCA Estimator and for winning the pitching competition. We wish you all great success!
The commercialization of emerging technologies is a journey, not a sprint. With this in mind, we encourage you to converge with us in volume 1, issue 1 of ‘Blockchain Fintech CONFIDENTIAL’ and step inside the future of blockchain, fintech, AI and alternative investing.
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is team development versus business/<br />
product development. If you have an<br />
outstanding group of talented individuals<br />
who have decided to follow you as their<br />
leader, then your product development may<br />
be a bit behind the MVP level. Alternately, if<br />
you have a functioning alpha product with<br />
users/subscribers but your team looks like<br />
the GarageBand equivalent of Avengers,<br />
then you do not have worry about the<br />
pedigrees of your team as long as your<br />
numbers (users/subscribers) make “cents.”<br />
This is an important comparison because<br />
these teammates of yours, or anyone who<br />
wants to join your team before conducting<br />
this digital offering, is going to be the first<br />
naysayers who question your sanity. They<br />
are going to want to quiz you on why issuing<br />
this type of offering makes sense for this<br />
type of product or service. They are going<br />
to want to make sure you know enough<br />
of what this blockchain/cryptocurrency<br />
industry is to feel comfortable in explaining<br />
to their friends and family when they ask<br />
about why you decided to use blockchain<br />
(and they will).<br />
These are serious documents and will<br />
affect the fate of your venture and the team<br />
mentioned above. So, after you’ve Googled<br />
your way to elementary comprehension,<br />
consult a professional to see if this digital<br />
offering is truly a good approach.<br />
The third and final best practical approach<br />
for conducting a digital offering is very<br />
simple: you must believe in what you<br />
are doing. You cannot waive. You cannot<br />
hide and, God forbid, the state or federal<br />
regulators call and ask you what you are<br />
doing, you must answer. If you are serious<br />
about conducting a digital offering then<br />
you must be able to withstand the storm of<br />
questions, concerns, and comments from<br />
your spouse or loved one, to your team, to<br />
possibly even regulators in your jurisdiction.<br />
The second best practical approach for<br />
issuing a digital offering is making damn sure<br />
you know when you’ve gone outside your<br />
comfort zone. I once was able to replace a<br />
brake light in my Explorer after an incident<br />
where a kid decided it would be a good place<br />
to park his bicycle after flying down a hill (the<br />
kid was ok; always wear a helmet).<br />
This was an easy fix thanks to YouTube and<br />
eBay. I was not, however, able to fix another<br />
vehicle when a drunk driver took out a<br />
light pole which happened to cross both<br />
lanes of traffic just outside of Rochester,<br />
New York. I had the pleasure of running<br />
over at midnight at around 60 miles per<br />
hour. Needless to say, running over a light<br />
pole wasn’t a simple fix and required a<br />
professional. The anecdote here is you can<br />
bootstrap your operation up to a certain<br />
point. You can figure out basic limited<br />
liability company and corporate formations<br />
very easily online. You should not, however,<br />
draft your operating agreement or conduct<br />
a digital offering without consulting with a<br />
professional.<br />
As noted above, the SEC believes most<br />
of these offerings are securities so, after<br />
you’ve consulted with your professional,<br />
you must firmly believe this is still the best<br />
approach for you and your company. If<br />
you take this approach on this incredible<br />
journey, then you may just be able to walk<br />
on the Moon.<br />
Jonathan C. Dunsmoor, Esq.<br />
Founder/Principal<br />
Dunsmoor Law, P.C.<br />
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