Blockchain has been hailed by some as the technology that presents the greatest potential for humanity, with staggering implications across every aspect of society. Some have even labeled it “the second era of the internet.” Its impacts on governments and businesses in a wide variety of industries are already being felt – and its advantages, or consequences, are of crucial importance.
This Spotlight will explore strategies for Canadian governments and companies to benefit from the applications of blockchain technology, and mitigate the disruptive transformations it will bring on Canadian industries. The expert panel’s members dissect its effects on democracy and government, social and economic equality, industrial transformation, the future of work, and the role blockchain must play in Canada’s future economy.
Event Alignment: Blockchain Summit
Presented by The Conference Board of Canada
Key Takeaways & Calls to Action
- Canada is well positioned to lead the blockchain revolution due to its existing blockchain-focused talent pool, openness to immigration, innovation ecosystems, stable banking sector and other key factors.
- There are many considerations for Canadian companies seeking to integrate blockchain into their operations, and the process needs to start with a reframing of the critical problems to solve and the roles of all the participants within an ecosystem or process.
- Government must engage and begin offering services built on blockchain to avoid being replaced by non-government blockchain competitors and being disintermediated from the services they have traditionally offered.