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Why Blockchain?



Why is Blockchain economically important? Canada’s resource industries are challenged with increasing regulations, lower margins and growing operational complexity. If our primary economic sectors, such as Oil & Gas, Forestry and Agriculture, are going to compete and thrive in the next decades, optimization is critical. Blockchain has the ability to streamline operations, dramatically lower administrative and data management costs, and provide a trusted, verified store of information. These benefits also apply to industries like healthcare, financial services, cannabis and logistics, all predicted to be significant growth areas in Canada over the next decades. Technology is the foundation that will help these new economic potentials take flight – and as our province moves toward necessary economic diversification, Blockchain will play a key role in building a strong technology community.



As global technological development moves toward an integration of data management, analytics and information transfer, Blockchain-based, decentralized, secure databases will form an essential foundation for other revolutionary digital technologies. The CBC is focused on developing this convergence through inter-relationships and collaboration with Canada’s Artificial Intelligence, Robotics, and Internet of Things communities. Across the world, governments and industries are seeing Blockchain’s disruptive potential, investing billions of dollars a year into research and development. Canada has the technological talent, creativity and entrepreneurial drive to take a global leadership role in building value and moving Blockchain forward. As the CBC helps foster this innovative reputation, it will help our province attract new companies, specialized workers, and promote the growth of start-ups. The CBC believes that Canada now stands at a critical inflection point – caught between its legacy of traditional resource industries and the need to rapidly diversify into new, uncharted areas. Blockchain bridges these divergent priorities by helping optimize and increase the competitiveness of our primary sectors, while fostering new industries, promoting innovation, and demonstrating to the world that Canada is a powerful force for technological change.