Our Mission and Values
After months of informal conversations and an increasing need for collaboration among some of Canada’s top blockchain projects, the Blockchain Technology Coalition of Canada was formed on May 30th, 2018. As the organization has grown in membership, reach, and vision it has become important for us to state publicly our intent for the coalition. By communicating our organization’s mission, and vision we hope to provide Canadians with a stronger sense of why we exist and how we view our role as early (but not permanent) stewards of the Canadian blockchain ecosystem.
Over the past decade Canada has been emerging as a significant worldwide technology leader. Home to world class talent, innovative breakthroughs, industry disrupting upstarts, and is now one of North America’s largest financial and economic centres.
Despite all this, blockchain companies in particular face overwhelming obstacles and are being forced to engage in country wide regulatory geo-fencing. Moving their businesses, resources and employees to “blockchain friendly” jurisdictions outside the country. Ethereum, the worlds largest and most widely adopted platform for blockchain development began as a Canadian project founded by Toronto based Vitalik Buterin. As the project grew, the regulatory environment in Canada became far too unclear for the business who packed their bags and went abroad. Ethereum now has a market-cap bigger than that of Ford Motors and approximately zero of the businesses’ operating activities are still here.
A second wave of blockchain projects with roots in Canada are now faced with two options:
- Sit and wait out a long period of regulatory uncertainty and risk missing the opportunity to create the next Google.
- or, go abroad and join the technological arms race.
Canada is now known for high regulatory uncertainty in blockchain, elsewhere, such nations as Switzerland, Japan, Gibraltar, and Singapore have been paving a clear path as potential winners in the race for digital technology leadership.
These nations are attracting the world’s digital assets businesses through pro “digital currency” blockchain philosophies, forward-looking regulations, favourable tax systems, legal certainty, new legal categories and in some cases outright subsidies for blockchain projects.
Our vision is Canada as a global beacon for the formation and growth of innovative blockchain projects.
We seek to help design and promote industry standards of self regulation and foster education, while advocating for thoughtful, transparent and consistent law and regulation. Our mission has three important pieces:
This is three sided.
- we are here to educate consumers about the benefits and potential pitfalls of handling blockchain based crypto-currencies.
- educate Canadian based blockchain projects on standards of operation, ethical marketing practices, AML and KYC policies, transparent financial reporting and more.
- finally, we act as a bridge and translation layer between Canadian blockchain companies and government, to strengthen the nation through thoughtful discourse, and guidance.
Blockchain is not an industry in so much that the internet is not an industry. Every industry, from finance, media, government — to — transportation and medicine will be forever changed by this landscape sweeping technology. Material adoption of systems that incorporate elements of decentralization, crypto-economics and new emerging governance models will have implications we (humanity) simply haven’t been able to foreshadow. We shine a light on top issues facing Canadians, and bring awareness to best practices when operating a business that uses this technology
As a coalition of Canadian companies on the ground floor building systems that leverage blockchain, we advocate for and help create a regulatory environment that protects consumers while fostering innovation within the four walls of our nation. To state simply, our mission is to:
Create a Canadian regulatory environment that protects consumers and fosters innovation.
Join us in our Mission
Support our efforts and join us as a BTCC Member. Improve your profile in blockchain, access Canada’s most promising blockchain CEOs and businesses, and contribute to our community.
Is Membership right for you?
You need access to cutting edge blockchain knowledge and talent
You believe in the importance in improving digital currency industry ethics and conduct
You want to connect with Canadian blockchain projects, founders and industry partners
You need to improve your profile in blockchain
You want to contribute to digital currency best practices or policy development
You want to see and benefit from Canada’s future emergence as a global leader in digital technology