What are the opportunities for payments providers?
The complexity of the purchasing process within the new generation of metaverses, coupled with lingering concerns over many aspects of crypto, are both acting as deterrents to most people entering the newer decentralized, blockchain-enabled, and crypto-based platforms such as Somnium Space and Axie Infinity. So what’s going on, and what are the opportunities for payments…
Learning from the pros Every Monday, Wednesday and Friday, Amplify Your Business, produced by Amplomedia in partnership with Troy Media, will interview professional entrepreneurs who are currently in the trenches growing their businesses. Through insightful conversations, we will be unpacking their common business challenges and identifying the lessons every business owner needs to learn so…
Crossover between the real food world and a virtual metaverse offers companies a new look at markets
Some restaurants are looking for new ways to re-engage with a market heavily affected by a two-year-old COVID-19 pandemic. Restaurants have done a lot of juggling over the last two years: redefining menus, thinking of new ways of connecting with customers, pivoting to a positive future. It’s been nothing short of impressive. One approach gaining…
China's crackdown on cryptocurrencies may be the first shot in its battle for financial dominance
Canadian and British regulators are on an entirely different wavelength to a significant portion of the cryptocurrency market and industry. They have implemented new regulations and cast doubt on the future of decentralized digital currencies. The moves come as China is cracking down on all but one form of cryptocurrency, forcing Bitcoin miners out of…
Rising prices may be increasing their allure but there are considerable risks
The value of cryptocurrencies such as Bitcoin, Ethereum and others recently hit new record highs, in the thousands of dollars per unit. This escalation has attracted more speculators, further boosting prices over the past several months. Much of this is the result of investors fearing they will miss out on a chance to profit. While…
The decentralization genie is out of the bottle
Underneath all the media brouhaha and institutional focus on bitcoin, a struggle is brewing in the crypto world: which altcoin will pick up the baton? A fierce competition is underway for the podium, with Ethereum having a clear first-mover advantage. Bitcoin, as economists and investors such as Larry Summers and Ray Dalio have come around…
Canada must emulate countries such as Liechtenstein and Malta, which adapted legislation in advance to attract crypto entrepreneurs
The Canadian cryptocurrency industry knew mainstream adoption would inevitably come with a regulatory load, especially after the 2019 collapse of the largest exchange at the time, QuadrigaCX. Participants, however, didn’t expect regulators to come with one of the most heavy-handed approaches possible. On March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory…
A fraction of the global economy moving to a bitcoin standard will create a ripple effect
Former Canadian prime minister Stephen Harper recently suggested bitcoin could become a reserve currency alongside the U.S. dollar. Now a business adviser with Harper & Associates consulting, he had a caveat: bitcoin still lacks a key money feature, that being a store of value. In contrast to fiat currencies, bitcoin has done little but rise…
The cryptocurrency genie is out of the bottle and there is no going back
Among the many races the pandemic has accelerated, none is so pointless as the issuance of central-bank digital currencies. The Canadian government, which should know better, has jumped into the fray despite earlier opposition. Reversing comments made in February 2020, Bank of Canada deputy governor Timothy Lane now believes state involvement in cryptocurrencies is a…
New Canadian rules shift all the burden and risks to consumers, and may push away investors
By 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.…