Fun

News Feed - 2023-08-17 11:08:13

Jesse Coghlan6 hours agoCanadians are moving past crypto speculative trading: Coinbase country headThe industry should build trust with retail consumers as Canada shifts to a digital economy, says Coinbase"s country director for Canada, Lucas Matheson.4687 Total views21 Total sharesListen to article 0:00InterviewJoin us on social networksCanadians are starting to look at digital assets as more than just speculative investments, seeing them instead as legitimate assets for everyday transactions, according to Coinbase’s country director for Canada.


Speaking to Cointelegraph in Toronto on Aug. 16, Coinbase Canada director Lucas Matheson said he believes that more utility and use cases in daily life will soon be digital asset-backed, something that “everyone in our industry is excited for.”“In Canada, we"re ready to move beyond the confines of thinking about digital assets as a speculative retail investment. This is a movement. It"s a belief in the democratization of finance.”


Matheson believes that as crypto and nonfungible tokens (NFTs) gain more prevalence it’d be helpful for Canadians to understand the concept of decentralization and the reasons why — and how — digital assets could soon be a normal part of everyone"s day-to-day life.


In July, a Bank of Canada study reported Bitcoin (BTC) and crypto ownership declined slightly in 2022 following price lows, company collapses and regulatory hurdles.


However, an October 2022 Ontario Securities Commission report claimed over 30% of Canadians plan to purchase crypto by 2024.


He added one of the most important things for the industry to do is build trust and Coinbase is focusing on helping Canadians understand why a shift to a digital economy is happening.“We"re all working to build trust with government, with members of Parliament, to help them understand how to build a strong economic plan for Canada that includes digital assets.”


E-commerce was one use case Matheson believes will be significantly changed by NFTs, specifically so-called “phygital” items — when a digital asset is included when buying a physical good.


Sportswear company Puma and luxury brand Dior recently released shoes that either link with an NFT authenticating the product or include an NFT twin.Matheson (left) with Cointelegraph Editor Sam Bourgi (middle) and People"s Group COO David Furlong (right).


Regulatory clarity was also an important factor Matheson highlighted that would help more Canadian institutions participate in the digital economy.


Related:Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, says exec


He called Canada’s crypto approach “regulation by engagement” compared to the regulation by enforcement approach of United States regulators.


“Canada is making progress in how the government thinks about regulating our industry. They"re committed to regulating crypto,” he said.Great to see our  government Committee on Industry and Technology making such strong recommendations for crypto & blockchain! Canada https://t.co/oLflfkHETa— Lucas Matheson (@lucmatheson) June 28, 2023


David Furlong, the operating chief of the financial services firm People"s Group, agreed, saying Canada"s regulators are very apolitical, seeking to understand and respond to issues themselves and tend "not to react to soundbites."


A July report from the Canadian House of Commons tech committee found the blockchain industry has significant long-term economic and job creation opportunities for the country.


It gave 15 recommendations, including recognizing blockchain as an emerging industry, providing more regulatory clarity and forming a national strategy alongside the industry.


Additional reporting by Sam Bourgi.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:How smart people invest in dumb memecoins — 3-point plan for success# Coinbase# Canada# E-Commerce# Adoption# Digital Asset# Cryptocurrency InvestmentAdd reactionAdd reactionRelated NewsWhat is an atomic swap, and how does it work?From the U.S. to Japan, regulators are beginning to embrace cryptoCanada to develop repository for storing crypto and NFT seizures

News Feed

Tomer Warschauer Nuni11 hours agoCrypto’s phoenix moment: Rising stronger amidst scandals and volatilityDespite the remaining challenges and uncertainties, there emerges a guarded optimism enveloping the sector, symbol
How Bitget Became a Dark Horse and Earns Market Share and Trust From Millions in Crypto Winter
How Bitget Became a Dark Horse and Earns Market Share and Trust From Millions in Crypto Winter sponsored 2022 was one of the roughest years in the crypto industry, which saw the col
Savannah Fortis16 hours agoSony Network invests in Japanese Web3 startup to spur mass adoptionThe deal includes an investment of $3.5 million, a Sony executive moving to Startale Labs and collaboration on new Web3 tools
Fear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher
Fear of War, Monkeypox Causes Stock and Crypto Markets to Churn While Precious Metal Spike Higher Stock and cryptocurrency markets on Thursday saw volatility, after experiencing fl
Defi Protocol Harvest Finance Hacked for $24 Million, Attacker Returns $2.5 Million
Defi Protocol Harvest Finance Hacked for $24 Million, Attacker Returns $2.5 Million Decentralized finance (defi protocol) Harvest Finance was hacked on Monday fo
1 Cent per Kilowatt-Hour: China’s Sichuan Province Encourages Hydro-Powered Bitcoin Mining
1 Cent per Kilowatt-Hour: China"s Sichuan Province Encourages Hydro-Powered Bitcoin MiningThe local government of Ya’an city, in China’s Sichuan province, has announced
Analyst targets $91.5K Bitcoin next despite Fed’s ‘hawkish tone’
Ciaran Lyons5 hours agoAnalyst targets $91.5K Bitcoin next despite Fed’s ‘hawkish tone’Pseudonymous analyst CryptoCon is confident Bitcoin will surge 25% above current all-time highs — its next big “step” bef
‘Big Short’ Investor Michael Burry Warns of Looming Consumer Recession, More Earnings Trouble
"Big Short" Investor Michael Burry Warns of Looming Consumer Recession, More Earnings Trouble Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has
Crypto Bulls Just Got Their Macro Wake-Up Call: Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Report: Japanese Carmakers Toyota and Nissan Enter the Metaverse
Report: Japanese Carmakers Toyota and Nissan Enter the Metaverse Two Japanese carmakers, Nissan and Toyota, have launched operations in the metaverse. Nissan’s virtual showr
Bitcoin Price Touches $10K Amid 2020’s Macroeconomic Storm and Covid-19 Fears
Bitcoin Price Touches $10K Amid 2020"s Macroeconomic Storm and Covid-19 FearsOn May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only
Brayden Lindrea2 hours agoSEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” SEC Chair Gary