Should Banks Give Away Their Proprietary Data? The July 13th, 2020 Edition of the Age of Ingenuity

Canada’s fintech investors are complaining that current government legislation is preventing them from developing brave new fintech applications which will "revolutionize" money.

We’re going to take a look at that revolution plus discuss Canada's dropping venture capital investments in the first quarter of 2020. According to the players, it's not caused by the pandemic.

Sources cited during this episode include the following:

• The July 10th, 2020 Financial Post article, "Refusal to embrace open banking puts Canada behind yet another curve."

• The June 7th, 2019 update of the Canadian Government Office of the Privacy Commissioner website, "Personal Information Protection and Electronic Documents Act (PIPEDA) in Brief." 

• The September 5th, 2017 Mckinsey and Company post, "Data Sharing and Open Banking."

• The September 5th, 2019 Euroconsultancy.com post, "The impact of technology and social media on the music industry." 

• The February 14th 2020 Pew Research Center post, "Fast facts about the newspaper industry’s financial struggles as McClatchy files for bankruptcy." 

• The August 14th, 2015 BBC News post, "Did technology kill the book or give it new life?"

• The 2004 movie "Anchorman: The Legend of Ron Burgundy."

• The Toronto ON based Wealthsimple website. Retrieved July 12th, 2020.

• The August 23rd, 2019 Financial Times post,  "Mark Carney calls for global monetary system to replace the dollar."

• Mark Carney's bio on the Bank of Canada website. Retrieved July 12th, 2020.

• The August 25th, 2020 Financial Review post, "Mark Carney calls for global monetary system to replace the dollar."

• 1984 (film), a 1984 British dystopian science fiction film written and directed by Michael Radford, based upon George Orwell's 1949 novel of the same name. 

• The July 9th, 2020 BetaKit post, "Toronto Tech Venture Deal Count Plummets  in “Unfortunate” First Quarter of 2020."

• The July 2020 “GTA Tech Report – Q1 2020,” which is available online from the Toronto ON based Hockeystick Startup Network.

• The 2019 Canadian Venture Capital Report from the Financing.ca website which we discussed in our June 16th, 2020 vidcast, “The CVCA, Precision Medicine and Code Tuesdays: The June 15th, 2020 Episode of the Age of Ingenuity.”

"Age of Ingenuity" tracks Canada's "innovation ecosystem," the organizations, agencies and individuals attempting to turn innovative Canadian start-ups into world class, billion dollar "unicorns," able to anchor industries and create jobs.

Age of Ingenuity Credits

Producer and Host - Chuck Black

Host and Contributor - Brian Orlotti

Host and Contributor - Al Calder

Associate Producer and Contributor - John Penturn

Music: Freesound House Flow by Jaturo licenced under a Creative Commons 0 Licence.

The Age of Ingenuity is created using ZOOM, Open Shot Video Editor, Gimp, various laptops and cell phones, plus lots and lots of coffee.

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