Cryptocurrency regulations don’t serve customers

New Canadian rules shift all the burden and risks to consumers, and may push away investors

Cryptocurrency regulations don’t serve customersBy Daniel Duarte Research associate Frontier Centre for Public Policy Canadian regulators are putting a crosshair on exchanges that hold cryptocurrencies for their clients. This business model, also called a custodial or centralized exchange, is prevalent all over the world but is headed for extinction in Canada, setting back the nascent financial technology (fintech) industry.…

Can we protect privacy in a cashless society?

The key is to find digital mediums of exchange that preserve the distinct attributes of cash

Can we protect privacy in a cashless society?Canada leads the world in the transition to digitized commerce. With more than two credit cards per capita, the cashless economy is approaching swiftly. The move has been largely voluntary, driven by convenience, and half of Canadians favour dispensing with notes and coins altogether. With cash-only businesses declining to near non-existence, what’s the problem? As…

How cryptocurrency is changing basic economics

For survival, central banks have little choice but to enter the digital-currency race. But it’s a race they will eventually lose

How cryptocurrency is changing basic economicsCentral bankers increasingly sense their obsolescence – and rightly so. The more people turn to private currencies and conduct transactions without intermediaries, the less bureaucrats control the economy. In February 2019, a 33-page Bank of Canada discussion paper unwittingly admitted the vulnerability. The authors, James Chapman and Carolyn Wilkins, noted widespread adoption of cryptocurrencies as…

Real-time wage apps helping revolutionize currency exchange

Cryptocurrencies may still be experimental but they’re already driving competitive pressure on established institutions

Real-time wage apps helping revolutionize currency exchangeYour money is worth more to you today than tomorrow. This financial truth – the time value of money – backs the case for real-time pay, a nifty tool for the benefit of workers. Although Canadian unemployment is at a four-decade low, wage growth has stagnated and bankruptcies have spiked. This is where real-time pay delivers,…

Why bitcoin can’t be banned

Why bitcoin can’t be bannedAfter becoming a worldwide phenomenon in late 2017, it’s safe to say that everyone is aware of bitcoin. It might be true, but still, only a small percentage of the world is actually trading it. It’s probably because although everyone is aware of it, there are still a lot of people that aren’t educated enough…

Cryptocurrency innovation on the chopping block in Canada

Regulations against nonexistent threats fuel unwarranted fears and impede sector development

Cryptocurrency innovation on the chopping block in CanadaAfter the United States and the U.K., Canada has the highest number of blockchain-related projects – thanks to a relatively hands-off approach. Paranoid authorities, however, are set to suffocate innovation with poorly targeted regulations. On Nov. 8, the House of Commons Standing Committee on Finance presented its report, Confronting Money Laundering and Terrorist Financing. It urges…

How blockchain can revolutionize the foodchain

Blockchain would enhance agri-food transparency, productivity, competitiveness and sustainability

How blockchain can revolutionize the foodchainThe cryptocurrency revolution has introduced some interesting technology, notably the blockchain concept, which holds great potential for the agri-food sector. Blockchain is a way of storing and sharing information across a network of users in an open virtual space. The technology allows users to look at all transactions simultaneously and in real-time. In the food industry,…

What is an ICO, and why you should know about it

While risky, an ICO investment could net you a return worth millions

What is an ICO, and why you should know about itAs bitcoin begins to experience widespread use in various retail markets, it could be time to consider investing in one of many new crypocurrencies by taking part in an ICO (initial coin offering) campaign. In some cases, the return on investment for some has proven to be huge. In fact, a new generation of cryptocurrency…