Chamber of Digital Commerce Canada Calling on Federal Parties to Build National Framework for Blockchain in Canada

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.

About the Chamber of Digital Commerce Canada

The Chamber of Digital Commerce Canada provides dedicated support for Canada’s emerging and rapidly growing blockchain ecosystem. Our mission is to promote the acceptance and use of digital assets and blockchain-based technologies. As broad and multi-sectoral applications of blockchain technology continue to emerge, so too do the complex policy, legislative, and regulatory issues. These unique issues are driving critical conversations across our country. They are also demanding attention and action from governments around the globe and will do so for the foreseeable future. Through education, advocacy, and working closely with policy makers, regulatory agencies and industry, our goal is to develop an environment that fosters blockchain innovation, infrastructure, job creation, and investment in Canada.

For more information, please visit: DigitalChamber.org/Canada

For more information or to schedule an interview with Managing Director, Tanya Woods, please contact:

Madison Simmons
madison@impactcanada.com

Kayode Southwood
kayode@impactcanada.com