Canada Election Strategy

OTTAWA, August 13, 2019 – Chamber of Digital Commerce Canada, the voice of Canada’s blockchain community, is releasing its election campaign and strategy. The plan – “Strategizing for the Future:  Building a National Framework for Blockchain in Canada” – calls on federal parties to recognize Canada’s robust blockchain and digital asset ecosystem.

“The federal government has indicated its interest in expanding Canada’s innovation capacity and leadership around the globe, and we believe blockchain should be a key technology included in these conversations,” said Tanya Woods, Managing Director. “We encourage all federal parties to support blockchain in their election platforms.”

Put simply, a blockchain is a distributed ledger that holds an immutable record of digital asset transactions. Virtually all assets, tangible or intangible, can be recorded, traded, and tracked on a blockchain. Over the last decade, blockchain technology has shown the capacity to improve business processes, increase efficiency, and promote transparency in both private and public sector applications. A survey from the World Economic Forum expects about 10 percent of global GDP to be stored on blockchains by 2025.

Some of the most prominent and forward-thinking blockchain innovators are Canadian. However, lagging policy and regulatory uncertainty in this space are driving businesses out of the country and into more competitive jurisdictions. Without action from the federal government, Canada’s position as a global leader will be threatened.

“We look forward to working with Canada’s political and policy leaders to develop and implement a robust blockchain innovation strategy that drives prosperity, job creation and investment in Canada. We are hopeful for the future of our industry in Canada,” said Woods.