Through this initiative, ICTC estimates that by 2024, Canada’s blockchain market will reach $2.5B (CAD) and create approximately 107,700 jobs.

Over the coming months, ICTC will be working with the blockchain community, including companies, academic institutions, and not-for-profits, to develop the framework to fuel further blockchain innovation and competitiveness in Canada. On January 1st, 2018 the new blockchain ecosystem will commence activities to facilitate collaboration on intellectual property, investment, knowledge-sharing, education, trade and to support appropriate regulatory activities.

ICTC wishes to thank the many supporters of this initiative for their sense of urgency and strong momentum that raised over $50 million in a few short weeks. “This is a pivotal and transformative agenda for Canada that rallied so far considerable and tangible support. We are delighted to advance this initiative forward with key leaders and innovators in this space” says, ICTC President & CEO, Namir Anani.

“Canada is a leader in blockchain technology, but its critical we take action to maintain our digital advantage for years to come,” said Blockchain Research Institute Co-Founder and Executive Chairman Don Tapscott. “This initiative is one of the critical ways we can assure Canada leads the second era of the digital revolution.”

In a joint statement, Alan Wunsche, Co-Founder of Blockchain Canada and Kyle Kemper, Executive Director of the Blockchain Association of Canada stated that “they view blockchain as a transformative and foundational technology that has applications for all industries and regions in Canada. Through a multi-stakeholder strategic approach, we can advance education, awareness, skills development, research, adoption, and standards initiatives both nationally and internationally.”

Like the first generation of the Internet before it, the second generation based on blockchain will transform every industry, enabling Canada to make the shift to an innovation economy. Blockchain is a cross-industry enabler and is a key catalyst for industry innovation and growth, particularly for Small and medium-sized enterprises (SMEs) that represent the large majority of Canada’s economy.