ECN Crowdcon 2020: Opportunities and Challenges for the European Crowdfunding Industry in the New Decade
February 21, 2021 @ 9:02 pm By André Jasch
The European crowdfunding industry is merging into a harmonized market – with major implications for how companies raise capital and investors access investment opportunities. The opportunities and challenges arising from this were also at the center of the ECN Crowdfunding Convention 2020 (ECN CrowdCon). This article gives you a detailed report of the 9th ECN CrowdCon.
ECN CrowdCon is organized annually by the
European Crowdfunding Network (ECN) and is the most important conference for the European crowdfunding industry. The 9th ECN CrowdCon was all about the market trends of the European crowdfunding industry, the opportunities of the potential crypto asset regulation and the impact of the harmonized European regulation and its implementation in the individual member states.
(Image: Supplied)
The State of the Nation Address again highlighted that the South African government has the right economic recovery plan but not the financial resources to deliver on it – and, with time running out, harnessing the power of the digital sharing economy could well provide the much-needed solution.
FORUS Digital Exchange Founder Sonny Fisher advocates adopting a modern-day equivalent of the inclusive and cooperative approach used by multilateral institutions post the Second World War, namely the digital capabilities of the fourth industrial revolution.
“We are fighting an economic war; we need economic bullets. South Africans need to invest in South Africa, not wait for foreign direct investment and bailouts from the IMF,” says Fisher. To do this, the country needs to pool expertise to ensure the lowest cost of capital, the most efficient distribution of funds, and the necessary oversight, efficiency, traceability, and accountability.
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Applications of blockchain and distributed ledger technology (DLT) in finance have proliferated in recent years, forcing policy makers around the world to step in and formulate rules in regard to asset tokenization.
In a report released in January 2021, the Organisation for Economic Co-operation and Development (OECD) documents and analyses the range of policy responses to the emerging tokenization market, outlining the main strategies that have been adopted by regulators around the world so far.
Stylised representation of asset tokenisation, Regulatory Approaches to the Tokenisation of Assets report
A technology-neutral approach to regulating financial services
According to the study, most regulators around the world, including the European Commission (EC), the UK Financial Conduct Authority (FCA) as well as US regulators, have opted for a technology-neutral approach to policies and risks where existing financial regulations are applied to tokenized assets.