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Two more fast-growing Canadian tech startups, TealBook Inc. and Symend Inc., have slashed their workforces in an effort to keep costs in check amid economic uncertainty, the latest cuts in a sector that has shed nearly 128,000 jobs this year. Calgary-based Symend, whose software is used by telecommunications companies and banks to improve collection rates from delinquent customers, laid off 13 per cent of its staff this quarter and now has 234 employees, CEO Hanif Joshanghani said in an interview. The company also said Thursday it had raised US$40-million in fresh capital. Meanwhile, Toronto-based Tealbook this month cut 19 per cent of its workforce, or 34 jobs, less than a year after the supply chain software startup raised US$40-million in its most recent venture capital funding. “The market has changed dramatically,” TealBook CEO Stephany Lapierre said on a blog announcing the cuts. “Access to capital has decreased by a much as 80 per cent and raising additional capital in this en...

Opinions expressed by Entrepreneur contributors are their own. Since the inception of organized commerce, centralized financial systems have dominated the market, generally operating as a black box in the eyes of their customers. Aside from a lack of transparency, they have conducted business in a monopolistic manner, building empires along the way by simply serving as an intermediary. However, as the next iteration of the internet unfolds, these conventional economic and financial systems are being reimagined like never before. With this next-gen internet, known as Web3, concepts such as blockchain, cryptocurrency and decentralization are making rapid headway into the mainstream economy. This paradigm shift marks the advent of a new commerce arena that can fundamentally restructure our global financial system as we know it today, making it a more transparent, inclusive and safe place to transact. Below are five examples of how blockchain can improve and replace...

Opinions expressed by Entrepreneur contributors are their own. If you're reading this, then chances are you'll agree: Starting a Web3 business feels daunting and confusing. At least, that's how I felt when I first started funding my business with Web3 solutions for early-stage crowdfunding. The learning curve felt almost out of reach. My perspective changed, however, after sitting with my friend Metta World Peace — yes, the former Lakers legend who brought home an NBA Championship in 2010. He coached me on how his targeted $1 billion venture capital fund Tru evaluates his portfolio investments. "There are two types of founders," Metta told me, the ones who "have the experience and education and then there are the founders that are the visionaries who know exactly where they want to be." The founders he's looking to invest in, he says, take calculated risks. "You want to take it step by step, make sure you're building ...