How Canada can be a global leader in blockchain technology

This article outlines some of the conclusions from a 2016-17 research project conducted by the Tapscott Group on behalf of Innovation, Science and Economic Development Canada and written by Don and Alex Tapscott. The full report is available here.

The first era of the Internet was based on information and content being available anywhere and any time. Now, the second era – powered by blockchain technology – is bringing us the Internet of value: a new, distributed platform that will help us reshape the world of business and transform the old order of human affairs for the better.

Blockchain is a distributed ledger in which anything of value can be stored, ranging from money, stocks, bonds and intellectual property, to votes, art, music, loyalty points, carbon credits, health-care records and student accomplishments. Even our identities can be stored, transacted, communicated and managed securely and privately.

In addition to revolutionizing financial services, blockchain will be the foundation for integrating into our economy technologies such as artificial intelligence, autonomous vehicles, the Internet of Things and robots. Governments will shift their computer systems to blockchain. Even the Canadian dollar could become a digital dollar based on blockchain.

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