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How Canada Embraces Blockchain Technology

The Chamber of Digital Commerce is an American advocacy group who will work with the Blockchain Association of Canada (BAC) in order to expand the advocacy mission. This Chamber is known as the world’s first and largest blockchain technology trade association launched in July 2014, headquartered in Washington, D.C.

The Chamber has founded the Token Alliance, Blockchain Alliance, Global Blockchain Forum, Smart Contracts Alliance and Blockchain Intellectual Property Council. It represents those 200+ companies who are investing and bringing innovation in the blockchain. Its main purpose to represent the digital asset and blockchain industry.

The world-class legal and policy strategist and executive director of the BAC Tanya Woods will now work with the Chamber of Digital Commerce Canada as a managing director. She has work experience in the digital innovation ecosystem of championing Canada, a few conglomerate companies like BCE, Microsoft, and Nintendo and the Canadian Government.

The founder and president of the Chamber of Digital Commerce Perianne Boring said, “Bringing our two organizations under the same banner sends a powerful message to our respective members, blockchain ecosystem participants, and policymakers. Tanya brings more than a decade of strategic advocacy experience and is a trusted advisor to the blockchain community and the Canadian Government at the highest levels. She is a strong advocate for the Canadian blockchain community.”

The executive chairman of the Blockchain Research Institute (BRI) and an advisory board member of the Chamber of Digital Commerce Don Tapscott stated about the position of Canada as a global leader in terms of Blockchain economy, the contribution of the Chamber of Digital Commerce in this economy and the situation of Canada in having a joined-up local community along with the adoption of Blockchain Technology, GlobeNewswire reported.

The chairman of the board for the Blockchain Association of Canada Kyle Kemper, “It has been such an honor to see the evolution of the Blockchain Association of Canada. Earlier this year it became clear that we need to elevate representation for Canada’s blockchain stakeholders to ensure that Canada can continue to succeed as a leading blockchain hub.”

Deloitte is auditing and consulting firm planning to help the Institutes RiskBlock Alliance and expand into Canada. RiskBlock is a blockchain consortium consisted of more than 30 insurance companies. It wants to boost efficiency, reduce fraud and help blockchain standards for the Association for Cooperative Operations Research and Development ACORD which is a non-profit organization who provides data standards and implementation solutions to the global insurance industry. It is stated that these things indicate an important move towards the product development and the growth for blockchain-based insurance applications, Forbes reported.

RiskBlock works for two insurance-based blockchain technology applications. The first one is proof of insurance application which shows premiums paid of customers and decides whether they are eligible for benefits or not. Another one is a subrogation tool who helps to collect member payments along with the improvement of claims processing and accounting. Deloitte helped to develop these applications.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shabnam Dhar is a Copy Editor for OWLT Market.

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