Canada to Become the Global Leader in the Blockchain Industry, Report Indicates

In a recently published report by the Canadian Chamber of Digital Commerce, showed that Canadians in the blockchain industry are amongst the highest paid professionals in the country. The report also noted that Canadian blockchain companies want more legal clarity, to understand where their government stands regarding cryptocurrency regulation in Canada.   

The study was conducted by the Blockchain Research Institute (BRI) with support from Accenture and collected data from more than 150 participants in the blockchain and cryptocurrency sector.   

The report stated that the average salary of a “blockchain worker” in Canada in 2018 was almost nearly double the Canadian national wage average. Notably, the blockchain community has been active in the past few years to educate policymakers regarding the state of the blockchain ecosystem. According to the report, blockchain entrepreneurs emphasized the lack of legislative definitions and the inconsistency for categorizing and understanding the differences between digital assets from securities.  

Senator Deacon said:  

“Our regulators are working to manage important risk factors like consumer protection, privacy and confidentiality, financial crime, and financial stability. This is really important.”  

Tanya Woods, the managing director of the Chamber of Digital Commerce Canada, stated:  

“There is an opportunity, and arguably a national mandate, to manage important risk factors beyond the mandates of securities regulators. In provinces, we need to see various departments of finance and innovation take pro-growth positions to support the non-securities aspects of digital assets and blockchain technology.”  

The blockchain community in Canada has acknowledged the need for a more blockchain education for the public as well as all levels of the government to support future progress. 

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