The Future of Blockchain Currency in Canada
Over the Years, the token-market has evolved from being focused over very first Bitcoin to many other digital currencies like XRP, LTC, ETH, and the list goes on! And in no time this market has revolutionized the way we spend and invest. Not only that, but the underlying blockchain technology is being applied to all major sectors far and wide, from financial services to healthcare to gaming.
No wonder governments are finally putting more efforts to put tokens into the mainstream. Likewise, the Canadian government is taking strides to bring up this new wave of digital currency. Since Canada is all set to become one of the world’s global hubs in the token industry, its government has been taking following initiatives to embrace innovation: -
World’s first major stock exchange investment desk for tokens
We are keeping the overhauling regulations regarding token investment aside. Canadian stock market in a short period has emerged as the world first major stock exchange token desk. That will be operated by the collectively by the TMX Group and Pay case Financial, a trustware provider for decentralized financial services.
Further, pay case Financial CEO, Joseph Weinberg, embraces this partnership stating that. “It signifies what a flourishing start-up community and a set of large institutions can do when they collaborate and work together to build the financial world of the future. Henceforth, Canada’s tight, cohesive start-up scene, institutions, and regulatory environment is a model for the world stage. It demonstrates that Canada is open for business.”
Blockchain traveler ID program
The Canadian finance minister, Bill Morneau say’s “The government has no plans to change how the law treats the token.” It is quite encouraging for the growth of the Blockchain market in the global sphere. Further, at the World Economic Forum, Morneau announced that Canada would be partnering with Accenture on a blockchain traveler ID program. That will encourage the emergence of more blockchain projects over the Canadian ground.
Canadian token market on High
It’s an undeniable fact that the token market in Canada has reached more heights in the past 12 months. While Litecoin saw a 6,000% increase and Dash saw an 8,000% increase, the S&P/TSX Composite index provided a return of 3.5%, and the Bitcoin provided a gain of 1,500% in the last 12 months.
Buy digital currency
Canada’s largest banks are allowing their customers to purchase tokens with debit or credit cards. E.g., one of the popular Canadian banking group, TD Bank, permits the purchase of tokens with cards, provided that the merchant is authorized, and the transaction isn’t fraudulent.
Further, we can’t deny the fact that Canada’s dominance in Blockchain innovation isn’t a new thing to talk. It stems in part from Toronto that was native of Mr. Vitalik Buterin who is well known as the inventor of the Ethereum Blockchain a second-generation open source software platform. With a general scripting language, which created a protocol for building reliable, decentralized trusted networks. This platform extends the functionality of Satoshi Nakamoto’s Blockchain design, which powered decentralized peer-to-peer Bitcoin payment. By adding the concept of smart contracts, which allows the platform to store and run computer programs. Also, it enables developers to build and deploy decentralized applications and create whatever operations they want with a permanent, trusted record of assets and transactions.
Thus, the Canadian government is making sincere efforts to bring the blockchain and the tokens into the fabric of our society through industry disruption and innovation.
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