An exciting and emerging technology based on the concepts of transparency and immutability, blockchain has the potential to augment many sectors by changing and optimizing processes in areas such as supply chain management, financial services, public administration, and others. With the initial cryptocurrency (and thereby initial blockchain) hype having settled, businesses are beginning to realize the value of blockchain across various industries. Currently, some of the most common and applicable use cases of blockchain technology take advantage of the efficiency, transparency, and accountability that blockchain solutions can provide. However, existing barriers like the conflation of blockchain with cryptocurrency, difficulty accessing funding, and unclear regulatory realities exist, which prevents Canada’s ecosystem from growing and scaling at speed. On the investment front, this reality poses challenges that curtail ecosystem development and could potentially lead to an “innovation drain”—both in terms of
