CEO Message

Message from the CEO

Welcome to the November edition of Profound Connections.

The past few weeks have been an exciting time for our team at Profound Impact™. 

We are proud to announce that our very own Sohail Ramzan, Technical Program Manager, was selected as the Toronto Region’s Best Tech Manager for the 7th annual Timmy Awards. Sohail’s contributions to Profound Impact have been immeasurable and we are thrilled that his talent and leadership are being recognized through this prestigious awards program. Congratulations, Sohail! 

In addition, Sherryl Petricevic, our Business Development Consultant at Profound Impact has been named a recipient of the 2021 Leading Women, Leading Girls — Building Communities Recognition Award from MPP Laura Mae Lindo. This recognition program acknowledges and celebrates women-identified Kitchener Centre residents who have demonstrated exceptional leadership to improve the lives of others and who have made substantial contributions to the community. 

Also new this month — I am thrilled to have been elected to CANARIE’s Board of Directors. It’s an honour to be joining such an esteemed group of professionals, all of which bring unparalleled expertise in technology, innovation, finance and academia. More on these announcements below!

This week is an exciting one as we celebrate National STEM Day (November 8) and Global Entrepreneurship Week (November 8-14). Here we are, 20 months since COVID-19 emerged, and we are working harder than ever to reboot our economies for a better, more sustainable and equitable post-pandemic world. These two national and global events signify how we can be rethinking our approach to build back stronger and regenerate growth. 

This past Monday, we had the opportunity to watch a special screening of the 3M produced documentary film “Not the Science Type” by the 3M Women’s Leadership Forum in celebration of National STEM Day. I invite you to watch the preview here. And don’t forget to check out the tens of thousands of activities, competitions and events hosted by millions of people all over the world in celebration of Global Entrepreneurship Week. 

Thank you for your continued engagement and support.

Warmest regards, 

Sherry Shannon-Vanstone

History of an Idea

History of Bitcoin and Ethereum

Profound Impact is working on visualizations for the history of an idea.  We have two visualizations that we wish to share with you on the underlying security ingredients for Bitcoin and Ethereum.  Please check this out and let us know what you think.

John Loeprich

John Loeprich

Executive Vice President, Chief Financial Officer and Director
3iQ Corp.

Passionate about democratizing the financial services sector through innovation and bold leadership, John Loeprich is making his mark on the global economy. As Executive Vice-President, Chief Financial Officer and Director of 3iQ Corp., Canada’s largest digital asset manager, John is responsible for overseeing all aspects of the company’s finance and operations and leads the formulation of the company’s strategic planning. Part of his vision for 3iQ is to provide new financial opportunities for people around the world that are marginalized by traditional financial markets and limited in their business opportunities. Using blockchain technology, digital assets and distributed networks, John hopes to level the playing field and ensure everyone around the world has the opportunity to build wealth. 

John graduated from the University of Waterloo with a degree in mathematics, while also majoring in finance and business. He was enrolled in the university’s mathematics co-op program, which he credits as being integral to his professional development. Through various co-op placements, John was able to immerse himself in all elements of the business world, enabling him to apply theoretical knowledge in real-world situations. For a person who dreamed of one day becoming an entrepreneur, this type of exposure to specialized knowledge at such a young age would prove to be invaluable to his professional endeavours. 

After graduation, John worked in the traditional financial services sector with Smith, Nixon & Company Chartered Accountants, TD Bank Group and Fidelity Investments Canada Ltd. Holding various positions with these companies, John gained a deep understanding of a range of business sectors including finance, fund operations, internal audit, systems and operations, sales, project management, navigating regulatory processes and much more. He transitioned from traditional finance jobs in 1997, launching his own consulting firm, Magellan Consulting Group. From there, John became a partner at @rgentum Management & Research, where he helped introduce quantitative-driven mutual funds, as well as Canada’s first long-short mutual fund. This experience in the alternative investments field fed his desire to find other solutions to wealth management that would offer investors different options to traditional market-correlated investments.

As technology began to evolve in the financial services sector, so too did John’s desire to explore new opportunities offered by the digital assets sector of investment management. With the advent of cryptocurrency, John was given the opportunity to join 3iQ and to introduce a new asset class, using digital assets and blockchain technologies to ensure people around the world have affordable access to financial services and investment products that provided a hedge against inflation. By reducing the need for using financial institutions that charge large fees for money transfer services, blockchains and cryptocurrencies can help to reduce or eliminate fees as well as barriers to entry for those who don’t even have access to financial services.

Since its launch in 2012, 3iQ has become the first company in the world to have a regulator-approved, publicly listed bitcoin fund on a major exchange. Now the largest digital asset manager in Canada (and third largest in the world), 3iQ plans to continue to be innovative and break new ground in its pursuit of new financial opportunities in digital assets. 

Inspired by the transformative power of digital assets and cryptocurrency in global wealth distribution, John is optimistic about the opportunities that are beginning to emerge for so many people around the world that have been marginalized by the current financial systems in place. The hope is that investors will now have access to a new non-correlated asset in their investment portfolio and those who are currently financially disadvantaged will no longer have to pay exorbitant fees or resort to dangerous lending practices with high-interest rates. Entrepreneurs and business owners will also be able to receive payments in various currencies with less friction costs, helping fuel innovation and economic growth. 

While John’s legacy will undoubtedly be his role in the democratization of wealth across the world, his most rewarding work is being a mentor. By imparting knowledge to others, John has been able to hone his understanding of a multitude of business practices and distill it in a way that others can understand and apply in real-world situations. A self-proclaimed lifelong learner, John is passionate about teaching others the many aspects of the financial services industry, including its traditional roots and all aspects of the digital transformation currently underway. 

John’s contributions to advancing the use of blockchain technology, digital assets, cryptocurrency and distributed networks are “game-changing” and the impacts of his work will be felt for years to come. You can view some of his accomplishments in the image below:

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Do you have an impact story to share? Reach out to us at connections@profoundimpact.com for a chance to have your story featured in an upcoming newsletter!

CANARIE

WATERLOO, ON | NOVEMBER 1, 2021 —Profound Impact™ Corporation, a Waterloo Region-based startup, is pleased to announce that its President and CEO, Sherry Shannon-Vanstone has been elected to CANARIE’s Board of Directors.

Established in 1993, CANARIE is a non-profit corporation that supports the evolution of Canada’s digital infrastructure. Together with its thirteen provincial and territorial partners, CANARIE forms the National Research and Education Network, enabling researchers, educators and innovators to leverage a range of advanced technologies to support a growing digital economy and catalyze innovation.

Timmy Awards

FOR IMMEDIATE RELEASE

LOCAL TECH STARTUP PROFOUND IMPACT’S SOHAIL RAMZAN NAMED TORONTO REGION’S BEST TECH MANAGER BY TIMMY AWARDS PANEL

The prestigious tech industry awards program, created by Tech in Motion, announces top regional tech leaders for 2021

WATERLOO, ON | OCTOBER 19, 2021 —Profound Impact™ Corporation, a Waterloo Region-based startup, is proud to announce that Sohail Ramzan, Technical Program Manager at Profound Impact, has been selected as the Toronto Region’s Best Tech Manager for the 7th annual Timmy Awards. He will now have the opportunity to receive even more recognition by competing to take home the North American Award, to be chosen by an expert panel of judges: Dr. Anita Jindal, Senior Director of Engineering at VMware, Akshaya Aradhya, Director of Engineering at Netflix, and Nirmal Srinivasan, Software Engineering Director at PayPal.

“We are extremely proud to recognize leading managers in the tech industry, locally and across North America,” says Mandy Walker, Executive Director of Marketing at Motion Recruitment, Tech in Motion’s creator. “These tech leaders’ steadfast dedication to empowering their teams through all circumstances and adapting to changing circumstances, while still inspiring those around them, deserve recognition.”

Sohail has worked with Profound Impact for nearly two years, leading a cohesive development team that has built and continues to enhance the next-generation social engagement and interaction platform to measure the worldwide impact of an organization and its programming. Guided by Sohail’s leadership and technological expertise, Profound Impact has created an innovative digital community of stakeholders including alumni, academics, researchers, innovators and professionals working together to find actionable solutions to global challenges.

“Sohail’s contributions to Profound Impact have been immeasurable and we are thrilled that his talent and leadership are being recognized,” said Sherry Shannon-Vanstone, founder and CEO of Profound Impact “Sohail and his team have brought our product vision to life, ensuring that our digital community and other services provide the tools and analysis needed to measure impact and tackle complex global issues.”

After the success of last year’s virtual event, the 2021 Timmy Awards ceremony on Oct. 28 will once again be an entirely digital experience on YouTube Premiere. North American winners will be announced live in front of Finalists, Regional Winners and members of the tech community from across North America. The public can RSVP here to attend and see who will be declared as the 2021 North American Winner. Further information on all judges and finalists can be found on the Timmy Awards’ website.

For more information on Profound Impact, please visit www.profoundimpact.com. See how Profound Impact is being deployed by visiting https://demo.profoundimpact.com/.

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ABOUT TECH IN MOTION EVENTS

Tech in Motion is a North American events series that brings local tech community professionals together to connect, learn and innovate. What started as a passion project in 2011, by IT staffing and recruiting firm Motion Recruitment, grew into an organization of over 250,000 members across 14 chapters in North America including Atlanta, Boston, Charlotte, Chicago, Dallas, LA, New York, Orange County, Philadelphia, Phoenix, San Francisco, Silicon Valley, Toronto, and Washington, D.C. Please visit www.techinmotionevents.com for more information about our notable speakers, sponsors and events.

ABOUT PROFOUND IMPACT CORPORATION

Profound Impact connects great people to do great things by providing a unique and transformational digital community to measure the worldwide impact of an organization and by facilitating and accelerating connectivity to inspire collaborative solutions to difficult global problems.

Website: www.profoundimpact.com

Facebook: @aprofoundimpact

Instagram: @aprofoundimpact

LinkedIn: Profound Impact Corporation

Twitter: @aprofoundimpact

For media inquiries, please contact:

Durrell Communications

media@profoundimpact.com

Lindsay Lewis

Tech in Motion Events

lindsay.lewis@techinmotionevents.com

484-252-9071

CEO Message

Message from the CEO

Welcome to the October edition of Profound Connections.

Celebrating Women of Impact

October is Women’s History Month in Canada, a month dedicated to celebrating the contributions of Canadian women in building the country we know today.  

At Profound Impact™, we are celebrating the talented women who help to make up our exceptional team. We are proud to be a Canadian, woman-led company as we continue to connect great people to do great things. 

This year’s theme for Women’s History Month — Women Making History Now — recognizes the women who are making a lasting impact for our country today — including addressing the impacts of the COVID-19 pandemic and moving us forward on the path of reconciliation.  

Our October Impact Story highlights Jean Becker, Senior Director of Indigenous Initiatives and Interim Associate Vice-President of Human Rights, Equity and Inclusion at the University of Waterloo. A woman of impact, indeed — read on for the full story!

How can you join in the celebration for Women’s History Month?

  • We will be using the hashtag #WomensHistoryMonth all month long to celebrate the significant contributions that women have made, and continue to make, in shaping our society. We invite you to join in the conversation and do the same. 
  • You can nominate a woman of impact here. Women of Impact in Canada is an online gallery celebrating women’s achievements and contributions to Canadian society. 
  • Learn more about women’s contributions and important milestones in women’s rights in Canadian history.
  • Do you have an Impact Story to share about a woman who has made a difference in your life? Reach out to us at connections@profoundimpact.com for a chance to have your story featured in an upcoming newsletter!

Women have long been trailblazers in creating a better, more inclusive, and equal Canada. Today and every day forward, we must support, uplift and celebrate the women changing our world for the better.

Thank you for your continued engagement and support. 

Jean Becker

Jean Becker

Senior Director, Indigenous Initiatives
Interim Associate Vice-President, Human Rights, Equity and Inclusion, University of Waterloo

Dedicated to enhancing indigenous education and programming at Ontario’s post-secondary institutions, Jean Becker has made tremendous strides in advancing our understanding of indigenous affairs. Serving as the Senior Director of Indigenous Initiatives at the University of Waterloo, Jean provides strategic leadership in identifying opportunities for systemic change while creating a long-term vision for the university. By building strong relationships between Canada’s indigenous communities and post-secondary institutions, Jean is playing an integral role in the evolution of higher education. Her work has been pivotal in addressing historic misconceptions of indigenous culture, while promoting a deeper understanding of the role that indigenous communities have played in shaping our nation’s past, present and future. 

Jean’s inspiration for advancing indigenous education and awareness in post-secondary institutions comes from her own personal post-secondary school experiences. While attaining her undergraduate degrees in sociology and anthropology at the University of Guelph, Jean took a course in women’s history, where the course material centred around the oppression of European women. Having grown up Inuk, as a member of the Nunatsiavut Territory of Labrador, Jean could not relate to these stories of oppression in the Western world. Women in indigenous culture are highly regarded and are often the centre of the communities. Realizing that only one narrative of women’s history was being taught to hundreds of thousands of students across Canada, Jean committed herself to ensuring indigenous education became a bigger component of post-secondary curriculum.

Prior to her role at the University of Waterloo, Jean served as Senior Advisor of Indigenous  Initiatives at Wilfrid Laurier University. During her time at Laurier, Jean oversaw indigenous student enrollment increase from 99 students to 600. She also helped implement crucial curriculum and programming changes and brought on a number of indigenous staff members, which she credits as the reason for the increased enrolment numbers. 

At the University of Waterloo, Jean has also made significant contributions to the advancement of indigenous education. The university recently announced a cluster hire of 10 indigenous scholars that will be tasked with making curriculum changes across a variety of faculties. It is also in the process of hiring indigenous staff in other critical positions, including in the Office of Research, Recruitment and Admissions, as well as the Student Success Office. Jean is extremely optimistic that once the right people are in place, systemic changes to post-secondary education will follow. 

Despite Jean’s professional accomplishments, she attributes her greatest impact to the relationships she has forged. Whether with students, faculty or indigenous communities as a whole, Jean is incredibly proud of the lasting impacts she has made on others around the world. She has inspired students to pursue careers helping people in indigenous communities across Canada. She has also made it her mission to use these relationships to learn, understand and honour the traditions and lifestyles of indigenous peoples. 

Recognizing the roles that universities and colleges have played in the false depiction of indigenous communities, Jean is committing to ensuring that no student graduates from post-secondary school without a solid understanding about indigenous people and their history. She is confident that the University of Waterloo is well-positioned to accomplish this feat. From its executive leadership to the rank-and-file, the university is extremely supportive of indigenization. Jean believes this is an important stepping stone to broader societal change, where indigenous communities are called upon to find solutions to addressing inequality and historical wrongdoing. 

Jean Becker has had a long and accomplished career in advancing our knowledge and understanding of indigenous people and implementing systemic changes at post-secondary institutions. She has published essential literature on the plight of indigenous peoples across Canada, including a chapter on violence against Aboriginal women in a 2006 book, Remembering Women Murdered By Men: Memorials Across Canada. She also published a Native Studies course on contemporary native communities of Canada for the University of Waterloo and co-authored the Aboriginal Head Start initiative for Health Canada, an early intervention program focused on early childhood development. 

In addition to her published works, Jean has been a vocal advocate for indigenous rights and education through public speaking engagements across the country. She has participated in cultural sensitivity workshops on residential schools, as well as equity and human rights panels tackling sexual harassment, the child welfare system and discrimination against indigenous peoples in the justice system. She has also provided counselling for indigenous men in correctional institutes, youths living in group homes and households in crisis that are navigating Family and Children Service agencies.

Jean’s contributions to advancing our understanding of indigenous culture and history have been unparalleled and her continued focus on institutional change will live on for generations to come. You can view some of her accomplishments in the images below:

Do you have an impact story to share? Reach out to us at connections@profoundimpact.com for a chance to have your story featured in an upcoming newsletter!

Canadian Contributions to a Cashless Society

Forthlane Fridays Webinar – Canadian Contributions to a Cashless Society – October 29, 2021

Profound Impact’s Sherry Shannon-Vanstone joined panelists Alfred Menezes of the University of Waterloo and John Loeprich of 3iQ Corp to discuss Canadian contributions to a cashless society from both the macro and micro level that consumers do not often appreciate the importance of, including the technical side, energy and environmental implications.

If you missed the webinar, you can watch the recording here.

Watch the video pre-discussion for an introduction to blockchain and cryptocurrency technology by Alfred Menezes!

Here are the Key Takeaways from the webinar by Forthlane Partners.

The Cryptocurrency Landscape

  • Regulators in Canada are playing an important role in helping Canada become a leader in transitioning to a cashless society.
  • Since 3iQ Corp is the first company worldwide to receive regulatory approval for a prospectus product (the Bitcoin Fund) listed on a major stock exchange, it has made individuals a lot more comfortable. This has resulted in greater adoption in Canada.
  • There has been significant portfolio adoption in the U.S., despite cryptocurrency being unregulated.
  • Although cashless products are not a core-holding of any portfolios yet, we are seeing more comfort among a lot of institutional investors and hedge fund managers.
  • Canada’s research and education organizations have enabled the commercialization of science. As a result, Canada has been a major contributor of information to the cryptocurrency industry.
  • As a professor at Waterloo, Alfred Menezes has seen an increase in student interest in cryptography. As an example, a course Alfred teaches about cryptocurrency used to have enrollment of approximately 100 students but has now risen to over 275 students.
  • The US government and MIT have partnered around digital currency. In Canada, this partnership would most likely be seen between the government and University of Waterloo.
  • Waterloo has the largest research group in cryptography security. Waterloo has already launched the “Cybersecurity and Privacy Institute” with dozens of faculty members who are conducting research in this sector.

Cryptocurrency as the Reserve Currency of the World

  • The early developers of Bitcoin and Ethereum comprised of a few anarchists and many strong libertarians. Overall, the founders tend to be very idealistic people. However, this idealistic perspective does not always align with the perspective of banks and nations.
  • In principle, it would be wonderful if the world adopted one cryptocurrency, but in practice it is not realistic.
  • On September 7, 2021, El Salvador adopted Bitcoin as a legal tender and was the first country to do so. It is not clear why and whether it will be a success. It will be interesting to see what comes of this decision over the next few months and if Canada should follow.
  • Many countries are very against Bitcoin becoming the new world’s reserve currency. Since the U.S. dollar is the current world’s reserve currency, the U.S. does not want Bitcoin to replace it.

Cryptography

  • Cryptography helps address big problems, including democratization of access, cost of financial services, a hedge on government, and physical mobility (during WW2, Gold was heavy and immobile, so diamonds were viewed as the “more mobile” product).
  • Bitcoin and Ethereum have been wonderful experiments to explore what is envisioned, but there is a lot more to blockchain, with many applications outside of cryptocurrency.
  • To push cryptography forward, more commercialization opportunities and conversations are needed.
  • We need to continue to encourage research and start-ups, which encourage collaboration. The government is helping to support this as well as the private industry. Monetary investments are also important to support research.

Real World Applications of Cryptography

  • Finance companies are implementing security tools, prediction markets, and smart contracts which can all be implemented very quickly.
  • The Top 5 banks in Canada have not felt the need to innovate over the last several years. A simple example here is still needing to pay $40 for a wire transfer.
  • De-centralized finance can put pressure on the banks to innovate. For example, this could help reduce wire transfer costs and reduce overnight wait time for wire transfers to clear. Transactions could be instant.

De-Centralizing Cryptocurrency

  • In theory, de-centralization is nice, but in reality, it is quite hard to achieve.
  • Bitcoin was intended to be de-centralized, but decisions are ultimately made by the miners, so are quite centralized.

There are only a handful of miners in the world, and most of these miners were all in China, until a few months ago. Over the last few months, there has been a crack-down on miners in China.

Celebrating Profound Impact Day

Celebrating Profound Impact Day 2021 – September 14, 2021

Profound Impact Day 2021 featured special guest speaker Dr. Feridun Hamdullahpur, former president at the University of Waterloo. A self-proclaimed lifelong learner, Feridun Hamdullahpur has been a powerful force in building the University of Waterloo’s reputation as a leader in innovation and academic excellence.