Episode Details

Episode 39witha Panel from the Institute of Advanced Financial Planners Conference 

Title: Blockchain and Cryptocurrencies, Are They an Investment you should Recommend to your Clients?

Summary:

During the 39th episode of the Fintech Impact podcast, Jason Pereira(award-winning  financial planner, university lecturer,  writer), Kyle J Kemper (Executive Director and Chief Strategy Director of the Blockchain Association of Canada), and David Hayes (Technology Brokers International) discuss the phenomenons of blockchain and cryptocurrency. The three put forth their view of the cutting edge investments and leave us with revolutionary takeaways. The trio help demystify the complexity of both Blockchain and Cryptocurrency.

Show Notes:

●         00:48—Introduction ofFintech Conference in Ontario--Details are avaiable on Jason´s linkedin profile.

●         4:23—Introduction of the panel who will be discussing cryptocurrencies and blockchain. Kyle J Kemper, David Hase, and Jason Pereira speak as part of the panel.

●         7:52—To be so sure about whether your coffee is fairtrade, you need data and a secure system to verify it. A solution that can do this is Blockchain. Blockchain can manage all of our data, and it can help keep our information secure.

●         10:23—Blockchain fast facts: 1,600 cryptocurrencies already exist. 54th most popular google search this year. One of the most valuable start-ups in Canada is a bitcoin company. The biggest bitcoin story is about the bitcoin bubble.

●         11:23—Canada is creating their own national cryptocurrency.

●         12:08—The recent cryptocurrency bubble. Cryptocurency breaks Warren´s basic tenenant of investment: Invest in things that have intrinsic value.

●         13:20—Problems of cryptocurrency include scalability, huge energy consumption, fraud, money laundering, and security. The number one concern and problem is that people don´t trust the systems.

●         14:34—Is now the time to invest in Cryptocurrency?

●         14:54—David kicks off the panel.

●         15:03—David has a vested interest in the cryptocurrency, and from a technology standpoint, he believes in the future of blockchain. It is a great technology.

●         16:30—Blockchain can promote cyber security and will grow to include biometrics--your fingerprint and more. Blockchain is generally trusted.

●         17:30—Amazon and IBM are working with blockchain as part of their formula, and they are growing their business nicely.

●         17:50—Digressing from Blockchain, Bitcoin is dead. In startk comparison to Blockchain, David doesn´t like bitcoin.

●         18:28—Bitcoin is more of a digital trend.

●         18:53—Once someone (like the world bank) enters the market and adds stability and credibility to the volatility, digital currencies would be a good investment and that would be a key time to invest in the sector.

●         19:50—Shopify allows every single type of bitcoin to be used on their platform.

●         20:22—Transition to Kyle Kemper

●         20:26—There is actually a website that has bitcoin arbituaries that shows you how many times bitcoin has died. Bitcoin is here and digital currencies are the future.

●         21:26—You are taking risk by not having bitcoin in your portfolio. Kyle wouldn´t use it to support his mortgag, but it is an investment worth having.

●         22:26—In the past, we needed banks to move the money. With bitcoin, banks do not stifle the transcaction process in terms of supply and inflation. 

●         23:26—With bitocoin, you skip the need for interrmediaries like banks.

●         24:17—Bitcoin is a currency, a commodity, and a ledger that everyone can witness. 

●         24:53—Bitcoin is young but still growing.

●         25:25—As big players come into the ma