Upcoming Haskayne Hour
The next Haskayne Hour will in in June 2021. Check back and watch your email for details.
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Blockchains Beyond Bitcoin: The Rise of Decentralized Finance
April 14, 2021
There are numerous applications of blockchain technology beyond cryptocurrencies. Blockchain is a decentralized form of record keeping with almost no limit that also delivers security and transparency.
How does decentralized finance change the way we can use money? What are the challenges of regulation in a decentralized environment? What effect will decentralized finance have on asset management and banking? How will central bank digital currencies change the way we make payments and settle contracts?
Dr. Alfred Lehar, PhD is an Associate Professor in Finance at the Haskayne School of Business at the University of Calgary. His research interests include fintech, bank regulation, financial stability and corporate finance. Lehar holds a Limited-Term Professorship to study the impact of blockchain technologies on capital markets awarded by the Canadian Securities Institute Research Foundation. He is currently researching mining fees and price differentials in Bitcoin markets He was a member of the University of Calgary team that advised Bank of Canada on how to design a central bank digital currency, a “digital loonie”.
Amy ter Haar is an independent lawyer who assists industry leaders to implement frontier research into practical business applications. Her expertise is in demand as a speaker, including presenting at the International Telecommunication Union’s World Conference, the World Council of Credit Unions, and as witness before Parliament of Canada. She is the Program Director for the Osgoode Certificate in Blockchains, Smart Contracts and the Law as well as the Osgoode Certificate in Privacy and Cybersecurity Law. She was a contributing author to the first edition of A Practical Guide to Smart Contracts and Blockchain Law (LexisNexis) and co-author of the forthcoming second edition. She is presently pursuing a PhD in law.
Moderator is Dr. Yrjo Koskinen, PhD, Associate Dean of Research and Business Impact and Professor of Finance at the Haskayne School of Business.
Question: Which industries do you think will be some of the first ones to adopt blockchains for the purpose of increasing transparency of transactions?
Amy ter Haar Answer: In contexts like supply-chain management, provenance and trade finance, companies lack a unified view of information because they don't fully trust their business partners. Blockchain enables translucent collaboration - sharing data without giving up control (and this is useful in these contexts). Whether it's an improvement over the status quo, depends on the context.
Question: Do we need the central entity? Who governs if they are not present?
Amy ter Haar Answer: Decentralized solutions add value in a narrow set of circumstances. When those circumstances are not met, then more centralized solutions that rely on traditional intermediaries and relational contracts are unlikely to be replaced. This is because the benefits of transitioning to a blockchain-based system are unlikely to counterbalance the costs introduced by a decentralized infrastructure and governance, and the replication of state across the network. In Decentralized solutions the governance exists in the protocols. This varies depending on a number of reasons (public vs. private blockchains.)
Building resilience: lessons from family firms
December 3, 2020
From your mom and pop shop, to large global companies – family firms span all levels of the economic landscape. Not only do they have a broad presence, they are the most powerful driver of economic growth in Canada, being responsible for approximately 50 per cent of private sector GDP and providing almost half of private sector employment.
How do family firm owners balance long-term interests of the family and the business? What are the best practices for governing assets and human resources in family firms? Are leadership and management unique in a family controlled firm and what can firms with dispersed ownership learn from successful resilient family businesses?
Liena Kano is an Associate Professor of Strategy and Global Management at the Haskayne School of Business. In her research she explores business phenomena such as family firm governance, emerging economy multinationals and global value chains, with a particular focus on microfoundations that underlie complex governance decisions. Prior to earning her PhD at the University of Calgary, Kano enjoyed a dynamic career in strategic management in a range of Canadian and international industry sectors.
Jeffrey McCaig has been with the Trimac Group of Companies since August 1983. He is currently Chair of the Board of Directors, and was President and Chief Executive Officer from 1994 to 2015. Prior to joining Trimac in 1983, McCaig practiced law in Calgary, first as an associate of MacKimmie Matthews, then through Jeffrey J. McCaig Professional Corporation, focusing on corporate financing and securities. He obtained his undergraduate degree in Economics from Harvard; his law degree from Osgoode Hall Law School in Toronto, Canada; and his Master of Science in Management degree from the Sloan Program, Stanford University.
Moderator is Alice de Koning, Senior Instructor of Entrepreneurship at the Haskayne School of Business, RBC Teaching Fellow in Entrepreneurial Thinking and Academic Director, Hunter Hub for Entrepreneurial Thinking.
Fake news and the big business of behavioural tracking
September 23, 2020
You are leaving digital breadcrumbs across the internet and they are being used to target fake news to you. What is being tracked? How do you prevent it? How can we help stop the cycle of fake news?
Hear from Haskayne alumnus Gary Kovacs, BComm’90, MBA’99 who will bring his leadership experience in the software industry to the digital discussion. Haskayne researcher Dr. Raymond Patterson, PhD will share the latest research in data privacy and fake news and what it means to you. Moderated by Cara Wolf, BComm’97, MBA’05, a Haskayne alumnus who will bring in a Calgary perspective on cybersecurity.
Gary Kovacs, BComm’90, MBA’99 has more than 25 years of enterprise software and mobile technology industry leadership and executive management experience and is currently Chief Executive Officer at Accela. Prior to Accela, Gary served as CEO of AVG Technologies, a global leader in consumer and enterprise security software. Previous to this, he was CEO of Mozilla where he led the overall direction of the organization and the development and delivery of the Firefox browser and cloud services used by over 500 million people worldwide.
Gary is a frequent public speaker and has delivered keynote addresses at TED, the World Economic Forum (Davos & Shenzhen), Mobile World Congress, Clinton Global Initiative, F.ounders, All Things Digital /Code/ Re/Code, Fortune Brainstorm, among many others. His TED talk, Tracking Our Online Trackers, has over 2 million views. Gary Kovacs received the UCalgary Distinguished Alumni Award for Lifetime Achievement in 2013.
Dr. Raymond Patterson, PhD holds the Haskayne Research Professorship in Business Technology Management. His primary research interests include information systems, analytics, and quantitative decision and artificial intelligence technologies. He has published extensively in premier journals such as MIS Quarterly, Information Systems Research, Operations Research, Journal of Management Information Systems, Decision Support Systems, and many others. Patterson previously served as the Co-Editor-in-Chief of the journal Information Technology and Management for seven years, and currently serves as Associate Editor for Decision Sciences Journal. Learn more about his innovative research around fake news detection as well as data privacy.
Cara Wolf BComm’97, MBA’05 is the Founder and CEO of Ammolite Analytx, specializing in cyber security, artificial intelligence and customized technology production for global companies, government and private sector clients. Drawing upon her 25 years of technical and business expertise, Cara is a serial entrepreneur and has advised over 300 companies on the topics of innovation and digital transformation. In 2019, Wolf was recognized as a SHEInnovator with UNWomen, TECTERRA Woman of Impact and Trailbalzer STEM Universal Women's Network. She serves on the Advisory Board for the Hunter Hub and Hunter Centre and was the Haskayne Distinguished Graduate. Wolf is a Founding Member and Director of the International Association of Virtual CISOs (Chief Information Security Officers).
COVID-19’s Impact on Workforce: What to Think About Now
June 9, 2020
The COVID-19 pandemic has the potential to dramatically shift the modern workforce away from in-person and in-place contacts towards digital solutions, robots and remote employment. Science, technology, automation and artificial intelligence could play a greater role in the society. Come and hear a lively discussion about the likely growth areas and the areas where a large portion of workforce would be rendered surplus. How would this massive workforce restructuring play out? What you should you and society think about now to plan for these changes?
Whitney Rockley is a Managing Partner and co-founder of McRock Capital, a venture capital firm focused exclusively on the Industrial Internet of Things (IIoT). Rockley is a sought-after advisor on innovation strategy having invested in high growth tech companies targeting industrial markets for the past 20 years. In addition to being one of the few female founders of a venture capital firm in Canada, Rockley was also the first female Chair of the Canadian Venture Capital & Private Equity Association (CVCA). Rockley currently serves on the boards of Praemo, Invixium, Serious Integrated and Miovision. She served on the Boards of the Venture Capital Association of Alberta (VCAA), Decisive Farming (acquired by Telus), mnubo (acquired by AspenTech), RtTech Software (acquired by AspenTech), and PPIC (acquired by Pure Technologies, which was later acquired by Xylem). Rockley is also a Haskayne School of Business graduate, learn more about her Haskayne experience by listening to the Peer Review podcast.
Dr. Anup Srivastava, PhD, is the first Canada Research Chair at the Haskayne School of Business. He is one of the foremost researchers on the evolution of knowledge economy and the rapidly changing landscape of business. He shows how the practice of management changes when knowledge-based companies like Apple and Google replace asset-intensive companies, such as Ford and Exxon, to become the most valuable companies. Beyond scholarly publications in top academic journals, he has published over twenty practitioner-oriented ideas in Harvard Business Review. His work has been cited in Wall Street Journal, Financial Times, Economist and Forbes and Barrons. He brings to his research a unique lens with over 14 years of corporate experience, having worked as a banker, consultant and corporate executive in the United States and India. Before joining Haskayne, he was a professor at Kellogg School of Management (Northwestern University) and Tuck School of Business (Dartmouth College).
Moderator Kristen van de Biezenbos, is an assistant professor at the Haskayne School of Business and Faculty of Law, UCalgary. Her research explores energy law and its local impacts, with a focus on externalized costs and regulatory gaps. She also writes about global energy initiatives, international energy transactions and comparative energy policy. Before joining UCalgary in 2017, Kristen taught energy law and related courses at the University of Oklahoma College of Law and Texas Tech University School of Law. She received her J.D. from Tulane University Law School and interned for the honorable Judge Lance Africk at the U.S. District Court for the Eastern District of Louisiana. Kristen is a member of the Board of Advisory Editors for the Tulane Law Review and the Loyola Maritime Law Journal and is a former trustee of the Rocky Mountain Mineral Law Foundation. She currently serves as chair of the Admiralty & Maritime Law section of the American Association of Law Schools.
Question for Dr. Anup Srivastava, PhD: I have followed your research on the relevance of financial statements for financial analysis for modern companies. Will changes resulting from COVID-19 make these statements even more meaningless?
Answer: COVID has further enhanced the already growing importance of knowledge firms. During COVID times, technology has contributed to the smooth running of the world, as those who work from home would attest. We would have been unable to function without Microsoft, Apple, Cisco or Google. The shift toward AI and machines would now be accelerated, requiring even greater investments in research and development. In addition, pharmaceuticals and biotechnology would assume greater importance during and after COVID. These developments imply that the relevance of financial statements for companies that matter would further decline. That is, financial statements would increasingly fail to reflect the true resources of the company, which is soft assets like technology, patents, customer and social network, and brands.
Question for Whitney Rockley: If it is fair to say that humans are the most flexible resource, is there a danger for enterprises to lose this flexibility by going deeper into IoT?
Answer: As I mentioned on the call, humans will continue to be the best and most flexible robots we have for several decades to come. It is all about balancing automation and robotics with people but I don't think we should be fearful about going deeper into the IoT because we will lose the human factor. I believe it will always be there and act as the higher intelligence.
Question: Aren’t the companies who haven’t started a digital transformation already too late?
Answer from Whitney Rockley: Those companies that haven't started their digital transformations are definitely lagging behind but they can catch up if they have a good, executable strategy. You may want to check out Maciej Kranz's book called "Building the Industrial Internet". It's excellent.
Question: During COVID-19 there are indications that employers are placing work monitoring tools on employees at home workstations. Implications are that eventually employers will only pay for hours worked thus eliminating many full time jobs. Thoughts?
Answer from Whitney Rockley: I am not a proponent of big brother technology implementations. They inevitably fail and breed resentment from those who are being monitored. We should lead our teams by trusting them (not monitoring them). Employers need to focus on empowering their teams through solutions that enhance productivity.
Question: One of the factors that will limit the capacity to move to large scale digitalization/automation is the scarcity of skills needed. How fast do you think we can build those skills?
Answer from Whitney Rockley: This is an excellent question and one that cannot be answered with a specific time other than saying the faster the better. I think we can accelerate the building of these skills if we combine a deep industry domain expert with a data science/engineer. These cross-skilled teams tend to fill in skill gaps quickly.
Question: Isn’t supervised learning a better approach for machine applications using data and physics as compared to unsupervised learning? Post Covid-19, the mundane or low tech tasks get automated, more value added jobs will stay? What is the viewpoint?
Answer from Whitney Rockley: It really depends on the application. Unsupervised learning is really good for complex, highly computational scenario analysis that needs to be done quickly and accurately. Supervised learning is great when you are combining the human "machine-whisperer" with the software to operate better. I fundamentally believe value added jobs will stay for some time.
Question: Once a vaccine or an effective treatment is developed for COVID-19, people will have a choice to resume traditional commuting travel for work. While some will work remotely, others will want to commute to a common workplace because of the real or perceived benefits of social interaction. Do you feel the concern with mass transit will encourage some to avoid mass transit and take personal vehicles?
Answer from Whitney Rockley: I do believe that the concern with mass transit will encourage people to avoid it all together and find alternative forms of transportation. Since COVID, demand is soaring for bicycles and many car companies are focusing more effort on accelerating the launch of their electric vehicle. COVID has placed an even bigger magnifying glass on reducing emissions so I am hopeful more environmental means of transportation will occur.
Leadership after a crisis
May 17, 2018
What happens after a crisis? When the dust settles and the path forward no longer resembles your original vision. How do you create stability in the aftermath and start to build a new vision for the future?
Join us and hear first-hand from Mr. Kevin Vickers, Ambassador of Canada to Ireland, about his personal experiences of leadership after a crisis and the critical steps you should take to prepare for such an event. The event will be moderated by Ian Holloway, Dean of the Faculty of Law at the University of Calgary and veteran of the Royal Canadian Navy.
Mr. Kevin Vickers was appointed as the Ambassador of Canada to Ireland in January 2015 and previously served as the Sergeant-at-Arms of the House of Commons. Mr. Vickers had a successful 29-year-long career with the Royal Canadian Mounted Police (RCMP), attaining the rank of Chief Superintendent. With the RCMP, Mr. Vickers was called upon to successfully lead a number of high-profile investigations, including homicides, national criminal investigations, international drug importations and a national investigation into those responsible for the safety of Canada's blood supply.
Mr. Vickers was appointed Director of Security Operations for the House of Commons in June 2005. He was soon after appointed as Sergeant-at-Arms (August 2006-January 2015). There he was responsible—along with a team of 1,000 employees—for ensuring the security of the Parliamentary Precinct, and for operations that supported the functions of Parliament. Mr. Vickers was also responsible of the implementation of the Long-Term Vision and Plan for the Parliamentary Precinct Services. He was hailed as a hero by Canada’s parliamentarians, and other prominent Canadian and international figures for his actions in stopping the October 2014 attack at the Parliament of Canada.
Mr. Vickers is the recipient of the Queen's Jubilee Medal, the Canada 125 Medal, and the RCMP Long Service Medal. He has also been recognized by the Community of Burnt Church for his outstanding service to their community, and by the United States Drug Enforcement Agency for his Outstanding Contribution to Drug Enforcement.
Ian Holloway has been Dean of the Faculty of Law at the University of Calgary since 2011. Prior to this, Holloway served as Dean at the University of Western Ontario and an Associate Dean at the Australian National University. Over the years, he has also held appointments at Cambridge and the National University of Singapore.
Before beginning his academic career, Holloway spent a number of years in private practice in Halifax with the Atlantic Canadian law firm of McInnes Cooper, where he focused on labour and employment law. He also served as the law clerk to the chief justice of the Federal Court of Appeal. In 2003, Holloway was elected to membership in the American Law Institute, an honour that is held by only a handful of Canadians
Beyond the legal sphere, Ian spent a total of twenty-five years serving in the Royal Canadian and Royal Australian Navies. In 1989, he was awarded the Canadian Forces Decoration. In 1992, he was awarded the Commemorative Medal for the 125th Anniversary of Canadian Confederation, and in 2013, he was awarded the Queen Elizabeth II Diamond Jubilee Medal.
Toward rational climate policy
March 15, 2018
Rational climate policy for Canada is critical to its future economic development. In many ways, we still have a long way to go.
There are a number of tools available to governments, various targets they might try to achieve and lot of questions left to be answered.
This Haskayne Hour with Dennis McConaghy and Trevor Tombe will explore these questions and help shift the climate policy discussion in a more rational direction.
- Dennis McConaghy, former Executive Vice-President, Corporate Development, TransCanada Pipelines
- Trevor Tombe, Assistant Professor (Department of Economics) and Research Fellow (School of Public Policy), University of Calgary
Are you on the right side of the cultural moment?
January 24, 2018
In an increasingly partisan and socially connected world, it is no longer enough to stay silently on the sidelines. People are expecting brands to take an active role in cultural, social and political moments. Yet, speaking up and speaking out can be fraught with risks and challenges. What can companies do to respond to these cultural moments as part of their marketing?
Join Scott Hughes and Scott Radford for an insightful conversation about joining the cultural revolution.