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Cosmos with Ethan Buchman | E138

Ep. 138

In this 138th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Ethan Buchman, Co-Founder of Cosmos and CEO of Informal Systems. Cosmos is one of the largest blockchains and one of the most valuable cryptocurrencies in the world, of which Ethan Buchman was an integral part of creating. 


Episode Highlights: 

● 00:32 – Ethan Buchman explains Cosmos. 

● 02:53 – What is Ethan Buchman’s history? 

● 09:20 – What is the differences between and proof of work and proof of stake? 

● 10:10 – Which countries consumed less power than bitcoin? 

● 11:09 – Where else can you go besides bitcoin to maximize options? 

● 12:00 – They discuss public and private blockchains. 

● 16:06 – Where are the limitations with authurium? 

● 25:24 – What does Informal Systems do? 

● 35:01 – What would Ethan Buchman change in his business or industry? 

● 35:49 – What have been the biggest challenges Ethan has faced? 

● 36:50 – What keeps Ethan Buchman excited each day about his work? 


3 Key Points 

1. Blockchain is the evolution of automating human processes, moving from personal computers, to the cloud, and now to the multi-stakeholder operation. 

2. In 2019, bitcoin consumed more power than Switzerland. 

3. Reducing compliance is an important use case in the blockchain world. 


Tweetable Quotes: 

● “We want to make it as easy as possible for people to build their own blockchains, launch their own blockchains, structure them in the ways that they need to that fit their needs and fit their values, and the values of their community.” – Ethan Buchman 

● “In 2013 I programmed my first bitcoin transaction from scratch, which is almost like a religious experience to be able to do that.” – Ethan Buchman 

● “The public blockchain becomes this source of truth that you can audit against without necessarily revealing all the information to the whole world. The boutry between public and private becomes significantly blurred .” – Ethan Buchman 


Resources Mentioned: 

● Facebook – Jason Pereira’s Facebook 

● LinkedIn – Jason Pereira’s LinkedIn 

● FintechImpact.co – Website for Fintech Impact 

● JasonPereira.ca – Sign up for Jason Pereira’s newsletter 

● Linkedin – Ethan Buchman

● cosmos.network – Website for Cosmos 

● informal.systems – Website for Informal Systems

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4/6/2021

Cinchy with Dan DeMers | E168

Ep. 168
In this 168th episode of Fintech Impact, Jason Pereira, award–winning financial planner, university lecturer, writer, and host interviews Dan DeMers, CEO and Cofounder of Cinchy, a next–generation data–management platform that utilizes data fabric with the end goal of data autonomy!Episode Highlights:0:43 – Dan DeMers introduces himself and Cinchy.2:27 – What was the problem that Dan was trying to solve when he started Cinchy?5:05 – Dan and Jason discuss the nature of code and the realization of data as a core asset.6:56 – Jason and Dan explain why the silo system is not scalable.10:09 – What are the hurdles and limitations of data lakes?11:48 – Dan explains “data fabric” and what problems it solves.15:21 – Jason and Dan discuss the relation of Metcalfe's Law to data fabric.17:33 – Dan and Jason explain the value of data and what it means to every individual.22:14 – What kind of reception has Cinchy gotten from the major institutions that it works with?26:52 – Jason and Dan explain why we are on the cusp of a generation of people who all do some form of coding.29:31 – If Dan could change one thing in his industry, what would it be?31:29 – What has been the biggest challenge of getting Cinchy to where it is today?32:29 – Dan explains what excites him the most about his work.3 Key PointsRoughly 50% of all IT budgets go to integration and data management, including APIs and all the byproducts of data being fragmented.Data lakes are filled with fragmented and unorganized data with quality issues that allow you to do analytics at best because it is all just a copy.Acceleration of low–code and no–code has put the world on the cusp of a generation of which everyone knows how to code to some degree.Tweetable Quotes:“We’re so used to a world where data is siloed and it’s subservient to an application.” – Dan DeMers“If you ever have to rekey something into two different systems, it’s a failure.” – Jason Pereira“If I have to pay my vendor to access my data, is it really my data?” – Jason Pereira“You have to take the action. It’s not going to fix itself. The data is not going to self–repair, sadly.” – Den DeMersResources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialCinchy.com – Website for Cinchy
3/30/2021

Epilogue Wills with Arin Klug | E167

Ep. 167
In this 167th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Arin Klug, Cofounder of Epilogue, an online will kit that helps people leave behind a legacy that does not bring their loved ones massive pain by enabling them to take control of their will!Episode Highlights:0:32 – Arin Klug introduces Epilogue and how it helps people.1:06 – How did Epilogue come to fruition and what motivated its creation?3:38 – What is the average situation that Epilogue applies to?5:10 – Where is the line drawn for Epilogue when it comes to whose will it can help create?10:23 – Jason and Arin discuss the value of lawyers in the will process.11:50 – What does the Epilogue client experience look like?14:26 – Arin explains what happens when there are changes in estate law.16:50 – Jason and Arin discuss how the costs of lawyers interrupt changes to the will.20:17 – Does everyone really need to pay for the premium financial planning services?21:23 – Arin breaks down the four documents that are included in Epilogue’s process.24:27 – Where does Arin see Epilogue going from here?27:51 – If Arin could change one thing in his industry, what would it be?28:15 – What has been the biggest challenge of getting Epilogue to where it is today?29:53 – Arin explains what excites him the most about his work.3 Key PointsEpilogue helps people create a legally binding will in as little as twenty minutes online, a far cry from the months–long process for a typical will.Arin and his business partner started Epilogue with the thought of how many people they could disqualify from the process because they know that no system is right for everyone.Funeral instructions included in the will are not legally binding, so Arin advises his clients to put those in a separate document and share those with family members to make sure that they are carried out.Tweetable Quotes:“If you want your family to hate you after you’re gone, go ahead and die without a will.” – Jason Pereira“You can’t write a will that’s against public policy and public policy is always changing.” – Arin Klug“The perception of cost often leads to conversations not even happening in the first place.” – Jason Pereira“Death hurts the living as much as it hurts the dead.” – Jason PereiraResources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialEpiloguewills.com – Website for Epilogue
3/23/2021

Timeline with Abraham Okusanya | E166

Ep. 166
In this 166th episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Abraham Okusanya, CEO and Founder of Timeline. Timeline is an online platform that allows people to stress test the decumulation phase of their life and come up with a plan to deal with it!Episode Highlights:0:34 – Abraham Okusanya introduces Timeline.1:18 – Jason discusses the conflicting aspects and uncertainty of decumulation.1:52 – What was Abraham’s journey that led him to start Timeline?5:47 – Jason explains his biggest problems with financial plans.6:27 – What are the client inputs and outputs involved when working with Timeline?10:36 – Abraham explains how Timeline compares client expectations to reality.12:31 – What are the various spending rules that Timeline uses to adjust based on reality?16:54 – How does Timeline’s Floor and Ceiling rule work?18:39 – Abraham compares Timeline’s Floor and Ceiling rule to Michael Kitces’s Ratcheting rule.22:13 – Jason and Abraham discuss the benefits of discussing the realities of volatility with the client.23:02 – What is a withdrawal policy statement and what does it tell people?25:42 – If Abraham could change one thing about his industry, what would it be?26:32 – What has been the biggest challenge in getting Timeline to where it is today?27:51 – Abraham shares what excites him the most about his industry.3 Key PointsTimeline is a retirement income platform that helps financial planners and enterprises create simple withdrawal strategies for their clients by applying extensive data.Right now, most people are expected to run out of money ten years short of the average life expectancy.Timeline’s Floor and Ceiling rule affects how you increase your withdrawal based on inflation and portfolio performance.Tweetable Quotes:“Ultimately, our mission is to create retirement income plans where the money outlives the people.” – Abraham Okusanya“The Law of Gravity is a law because it’s an observed law and we know it’s going to work. The 4% rule is not a law, it’s an observation.” – Jason Pereira“That’s the worst thing, an academic or a researcher will create something that a marketing department will run rampant with.” – Jason Pereira“All we can do is to bring the reality of volatility straight in front of them because they are far better prepared for it.” – Abraham OkusanyaResources Mentioned:Facebook – Jason Pereira’s FacebookLinkedIn – Jason Pereira’s LinkedInFintechImpact.co – Website for Fintech ImpactJasonPereira.ca – Sign up for Jason Pereira’s newsletterWoodgate.com – Website for Woodgate FinancialTimelineapp.com – Website for TimelineKitces.com – Website for Michael Kitces