Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
IMF: Nations Need to Consider a Central Bank Backed Cryptocurrency
Fintech News Singapore | Nov 14, 2018
During her speech at Singapore Fintech Festival 2018, Christine Largarde, IMF’s Managing Director expressed the need for states to consider the possibility to issue digital currency, adding that there may be a role for the state to supply money to the digital economy.
Ms Lagarde is of the opinion that a central bank backed cryptocurrency could achieve the following goals financial inclusion, security and consumer protection; and to provide what the private sector cannot — privacy in payments.
How a central bank backed cryptocurrency could aid financial inclusion
She shared during her speech that cryptocurrencies offer great promise through its through its ability to reach people and businesses in remote and marginalized regions where banks are not exactly rushing to serve poor and rural populations.
Ms Largarde further added that it is critical because cash might no longer be an option, if the majority of people adopt digital forms of money, the infrastructure for cash would degrade, leaving those in the periphery behind.
See: The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities
She emphasized of course, cryptocurrency is not necessarily the only answer. There may be scope for governments to encourage private sector solutions, by providing funding, or improving infrastructure.
The case for security, privacy and consumer protection
“Without cash, too much power could fall into the hands of a small number of outsized private payment providers. Payments, after all, naturally lean toward monopolies—the more people you serve, the cheaper and more useful the service.” said Ms. Lagarde
She also expressed concerns for private firms under-investing in security to the extent that it may cause some form of systemic failure that regulation not necessarily equipped to redress. She pointed out that a central bank backed cryptocurrency could offer advantages, as a backup means of payment and give its grandfather the old reliable paper note a run for its money.
An interesting thought that Ms. Largarde brought up during the speech for the need for privacy in the age where customer profiling is becoming increasingly sophisticated.
She quipped “Consider a simple example. Imagine that people purchasing beer and frozen pizza have higher mortgage defaults than citizens purchasing organic broccoli and spring water. What can you do if you have a craving for beer and pizza but do not want your credit score to drop? Today, you pull out cash. And tomorrow? Would a privately-owned payment system push you to the broccoli aisle?’
Using that as an example she stated that cryptocurrency could offer a real alternative to other forms of payments but she was quick to point out that it would be unwise for central banks to offer fully anonymous digital currency or they will risk creating a bonanza for criminals.
A win-win framework for privacy and financial system integrity?
Instead of fully disregarding the benefits of privacy for consumers on the account of bad actors, Ms. Largarde offered an alternative. She said central banks might design digital currency so that users’ identities would be authenticated through customer due diligence procedures and transactions recorded.
See: Central banks should consider using digital currencies: China think tank
The identities would not be disclosed to third parties or governments unless required by law. So when someone purchases pizza and beer, the supermarket, its bank, and marketers would not know who they are. The state might not either, at least by default.
Anti-money laundering and terrorist financing controls would nevertheless run in the background. If a suspicion arose it would be possible to lift the veil of anonymity and investigate.
This setup would be good for users, bad for criminals, and better for the state, relative to cash.
Continue to the full article --> here
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Funding | April 10, 2025 Regulation Crowdfunding Markets Show Tariffs Straining Innovation Economy Regulation Crowdfunding (RegCF) has proven to be a resilient market for early stage entrepreneurs and investors alike. When uncertainty strikes, it's often traditional venture capital that pulls back, while the community-driven model continues to offer early stage start-ups access to capital allowing them to innovate. However, just in from Sherwood (Woodie) Neiss, NCFA Advisor and Principal at Crowdfund Capital Advisors, data shows that tariffs are starting to strain RegCF markets - from March 10 to April 9, 2025: RegCF investment volumes declined by 24% (yoy) to just $57.48 million New campaign launches dropped over 40% Number of investor checks also declined by 15% Average capital raise size dropped to $720,000 (from $1.2 million) Sherwood Neiss, Principal at Crowdfund Capital Advisors: “We’re seeing the first real signs of pullback in what has otherwise been a resilient funding ecosystem. The numbers tell a story not of panic, but of pause. Investors and issuers alike are waiting for clarity—on costs, on policy, and on risk.” Tariffs Introduce New Risks for Early-Stage Companies In a volatile environment where U.S. tariffs are levied one day, and then paused the next, founders must now face ...
Economy | April 10, 2025 Trump Temporarily Halts Tariffs for Most Countries But Keeps Pressure on Canada, Mexico, and China On April 10, 2025, President Trump announced a 90-day pause on most of the newly implemented global trade tariffs after market backlash and political pressure. The break was extended to countries in Europe, Asia, and parts of South America, but Canada, Mexico, and China are still under tariff pressure. Strategic Pause, Not for Everyone While Trump paused the most recent tariffs for over 75 countries, U.S. tariffs still apply to Canada and Mexico primarily on cars and auto parts (25%), steel (25%), aluminum (10%), and some agricultural products like dairy, grains, and processed foods, and continue to affect cross border trade in manufacturing and farming sectors. Trump's pause also didn't apply to China In fact, Tariffs on Chinese good were raised to 125%, as China hit back with an 84% tariff on U.S. goods and filed new complaints with the World Trade Organization. See: Klarna Delays IPO As Markets React to Trump’s Tariffs After the tariff pause was announced, markets surged with the S&P 500 exploding 9.5%, the largest one day gain since World War II, according to Business Insider ...
Funding | April 9, 2025 Toronto’s Tailscale Secures $230M and $2B Valuation for Identity-First Networking On April 8 2025, Toronto-based Tailscale announced that they raised $230 million CAD Series C (about $160 million USD), valuing the company at approx $2 billion CAD. The round was made up of U.S. investors, led by Accel, CRV, Insight Partners, Heavybit, and Uncork Capital, along with some prominent individual investors notably George Kurtz CEO of CrowdStrike (returning investor) and Anthony Casalena CEO of Squarespace. New funds will be used to grow product and engineering teams, expand globally, and improved support for fast scaling customers. Tailscale - A Shift from IP Addresses to Identity Tailscale was founded in 2019 by former Google engineers Avery Pennarun, David Crawshaw, David Carney, and Brad Fitzpatrick, and officially launched in April 2020 to help users connect devices and apps securely without relying on traditional VPNs, IP rules, or firewalls. Tailscale uses a technology called WireGuard which is easy to setup and lets devices connect directly to each other, safely and privately. What's unique about Tailscale is its approach to solving networking challenges. Instead of relying on where a device is located (IP address), it focuses on who or what is connecting. This ...
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