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Over 280 companies and 1600 employees make up Canada’s growing blockchain ecosystem: Comprehensive new ICTC blockchain study

By 9 December 2019 No Comments

Ottawa, November 10, 2019—Canada’s blockchain ecosystem consists of over 280 companies employing 1600 workers, predominantly in the finance, fintech, and information and communications technology (ICT) sectors, according to a comprehensive new blockchain study released today by the Information and Communication Technology Council (ICTC).

Toronto and Vancouver are the leading centres of the blockchain economy in Canada, responsible for 60% of companies and 65% of total blockchain workers.

Despite a slowdown in blockchain activity following the Bitcoin price drop in 2018, Canada’s blockchain industry continues to provide robust growth and maturation.

The industry is no longer characterized by initial coin offerings as the technology diversifies and promises a value proposition in supply-chain management, real estate, and healthcare.

“In a few short years, blockchain has gone from a promising technology to a compelling business enabler and disruptor for many sectors of the economy. This report highlights a balanced and pragmatic view of the evolution and trajectory of virtual distributed ledgers, while exploring Canada’s competitive advantage in this space on the world stage” – Namir Anani, ICTC President & CEO.

“Building Canadian Consensus: Our Maturing Blockchain Ecosystem,” is the first comprehensive report of its kind on the blockchain ecosystem in Canada. Cutting through the hype that has accompanied blockchain, ICTC provides a balanced perspective that is built on over 30 consultations with industry experts, custom ICTC datasets on blockchain companies that hire Canadian employees, and a number of group Advisory Committee meetings that monitored and validated these findings.

“Building a Consensus” provides insight into:

  • The historic context for blockchain
  • Key concepts
  • Use cases and what blockchain is not right for
  • Canada’s blockchain advantage versus other jurisdictions
  • Sector, type and company size data
  • Workforce skills required in blockchain
  • Emerging Trends for a maturing industry

ICTC is a not-for-profit national centre of expertise for the digital economy. With over 25 years of experience in evidence-based research, practical policy advice, and innovative capacity building solutions, ICTC’s goal is to strengthen Canada’s digital advantage in the global economy.

This project is funded in part by the Government of Canada’s Sectoral Initiatives program.

For media inquiries or further information about “Building Canadian Consensus: Our Maturing Blockchain Ecosystem” please contact Paul Stastny at [email protected].

A copy of the report can be accessed here.