Canada has had a forward thinking view towards new technology in general. Canada is yet to implement regulations regarding cryptocurrencies. However there are no bans on cryptocurrency products in the country either. In fact cryptocurrencies are widely accepted. The government has announced the implemntation of regulations will begin in June 2020.
For a country with a population of only 37 million Canada has experienced much success in the blockchain industry.
Ethereum
Probably the biggest cryptocurrency name to come out of Canada is Ethereum (Eth). Created by a genius Toronto college drop out Vitalik Buterin. He actually left university to build Ethereum. Vitalik is the recipient of the the Thiel Fellowship. A $100,000 dollar award is given to a student to pursure their goals in lieu of getting a post secondary education.
In a nutshell Ethereum allows developers to create a smart contract. A smart contract is similar to any regular contract except that it could be used for literally anything. For example computer code that allows a user to follow simple procedures can be implemented by a smart contract. Smart contracts are irreversible and cannot be manipulated after they are stored in the blockchain.
Ethereum also allows developers to develop dapps (decentralized applications) on the Ethereum blockchain. This technology is the reason why Ethereum is 2nd by marketcap only to Bitcoin. However in my opinion Ethereum is the coin that has led to greater market adoption. The Ethereum blockchain consists of over 200,000 tokens. Dapps have allowed programmers to develop cryptocurrencies using the Ethereum blockchain. As Ether keeps evolving we are yet to see what the future holds for this innovative cryptocurrency.
Jaxx
The Ethereum Co-Founder Anthony Di Lorio is the brain behind the jaxx wallet. Anthany also happens to be out of Toronto, Canada. Decentral which Anthony also created is a full fledged blockchain company and community. The Jaxx wallet is a project from Decentral and is one of the best mobile cryptocurrency wallets on the market today.
Bitcoin Mining Canada
Mining giants such as Hut 8 Mining out of Alberta and Hive mining out of Vancouver are also significant Canada based blockchain companies. Hut 8 has the largest mine in Canada and one of the largest mines in the world.
Bitcoin Exchanges Canada
Canada is home to more than a handful of cryptocurrency trading platforms. Some well known ones include the now defunct QuadrigaCX, Einstein exchange, and Coinberry.
P2p trading platforms like Paxful are also based out of Canada.
Bitcoin ATM
Numerous ATM companies exist throughout the country with some of the largest Bitcoin atm networks in the world. Local Coin Atm for instance has over 140 Batm’s accross the nation including locations such as Vancouver, Calgary, Edmonton, Regina, Ottawa, Winnipeg and Montreal.
Lastly but not least companies like ours Vancouver Bitcoin and Bittreo exist. One being a retail Bitcoin storefront and the latter a software technology company focusing on the blockchain space including technology that can be used for cryptocurrencies.
Vancouver Bitcoin has clients throughout Canada. In the Vancouver area come visit us in store. Outside of Vancouver, we have you covered. Contact us now for more details, Great rates, low fees and always, excellent service.
Notice
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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