Today, Canada is one of those countries that has great involvement in the blockchain technology. A number of new fintech startups and blockchain ventures continue to grow apace. Even the government shows great interest in making the country as a center for global fintech or blockchain technologies. Canada’s central bank also showing the same through conducting experiments with the blockchain and cryptocurrencies.
“Bitcoin Alliance of Canada”, a non-profit organization designed to unite bitcoin businesses and consumers across the country, has recently changed its name “Blockchain Association of Canada”. This move was ignited by the country’s growing interest in the blockchain technology. AdvantageBC recently reported their study about British Columbia positioning to be a global fintech hub. Vancouver, a city in British Columbia, is ranked as one of the world’s major financial centres with its dynamic, evolving and expanding blockchain startup and fintech ecosystem.
BAC or what is called now as the Blockchain Association of Canada, was founded in April 2013 by Anthony Di lorio. Di lorio is a Bitcoin entrepreneur who owns the gambling site satoshicircle.com before he sold it in August 2013. The association is dedicated to provide resources and outreach services for the Bitcoin community. Di lorio decided to form this alliance during the skyrocketing rise of the Bitcoin price back in April 2013.
The change in name of BAC is a new outlook of what is beyond Bitcoin. The blockchain technology has an important and widely applicable potential across so many sectors including healthcare and Internet of Things which are now one of the major spaces the technology is getting into.
According to Bitcoin Magazine’s interview with BAC’s executive director Kyle Kemper, the alliance is dedicated to educate, drive awareness and promote the growth of blockchain technology innovations.
BAC board member Amber D. Scott also told Bitcoin Magazine that there is an incredible, thriving and keeps on growing scene of blockchain interest in Canada. He noted excellent discussions in academic organizations and regulatory bodies are likely to foster blockchain innovations. He believes that educating the consumers, advising regulatory bodies and as well as listening to their concerns are greatly necessary for the community, having the ability to make effective and well-written policy.
Another note from BAC’s board director, Agreesen Sri to Bitcoin Magazine is that Canada is a breeding ground of talent, grit and creativeness. There are great things to happen for the blockchain industry in the country as long as innovations keeps on growing.
Scott said that the movement from Bitcoin to Blockchain is not an abandonment of the cryptocurrency. Although he still embrace Bitcoin, the word itself creates some barrier such as difficulty in creating a traditional bank account for the association. As BAC Board Chair Manie Eagar said that there is still much work to do around merchant adoption, more user friendly experience, clear regulation, bank accounts creation for trading accounts and Bitcoin startups around the globe, removing the barrier between innovation and regulatory mandates. He also added that now is the time to step the efforts up again and ensure that the fight is focused on the important ones and what matters most.