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Industry Leaders Establish New National Trade Association, Canadian Web3 Council

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Canadian Web3 companies are pleased to announce the launch of the Canadian Web3 Council, a non-profit trade association that strives to position Canada as a leader in Web3 technology such as blockchain and cryptocurrency.

Web3 has quickly evolved from a technology used by hobbyists to a global industry currently valued at more than US$1.8 trillion. Web3 technologies are transforming the internet, financial, and digital services. Beyond its incredible economic potential, it offers new standards of efficiency, transparency, and coordination that are critical to helping solve some of the greatest challenges facing the digital economy.

The Council’s immediate priority is to advocate for a national strategy for cryptocurrency and digital assets. There is an urgent need to ensure Canada and its citizens are well positioned to benefit from this emerging asset class. The Canadian Web3 Council is calling for all levels of governments to establish a coordinated approach to convene industry and experts to build a robust, equitable, and sustainable national strategy for cryptocurrency and digital assets.

Canada’s Role in the Web3 Economy

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Canadian entrepreneurs have played a fundamental role in shaping Web3 around the world, including founding some of the largest blockchain networks like Ethereum, Cosmos, and Flow, and many leading NFT platforms like NBA Top Shot and CryptoKitties. Canada also launched the world’s first spot Bitcoin ETF in 2021 and led the way for it on policy and regulation. Despite these successes, Canada has fallen behind other jurisdictions that are advancing policies and defining their approach to Web3. For example:

  • In the United States, policymakers have worked closely with the Web3 industry to increase legal clarity over the last four years. The recent Executive Order issued by President Biden outlined a whole-of-government approach to assess and harness the potential of blockchain.1
  • The European Union (EU) has also recognized the importance of establishing a strategy to provide legal clarity to Web3 companies.2 Policymakers, in collaboration with the Web3 community, are drafting the EU Markets in Crypto Assets Regulation, which provides comprehensive guidance on blockchain regulation in Europe.

Founding Members

The Canadian Web3 Council represents organisations that have made a significant impact on the development of Web3 technologies across the globe and are committed to building and innovating responsibly in Canada. It represents a diverse group of members, ranging from issuers of financial products and exchange platforms, to investors and open-source blockchain projects.

They are:

  • Aquanow
  • Axiom Zen
  • Chainsafe Systems
  • Dapper Labs
  • Ether Capital
  • ETHGlobal
  • Figment
  • Informal Systems (Cosmos)
  • Ledn
  • Wealthsimple
  • WonderFi Technologies Inc.

The association is actively recruiting members to help define Canada’s national Web3 strategy. For more information about the Canadian Web3 Council, visit: www.Web3canada.ca.

Quotes from the Canadian Web3 Council and its Co-Founders

“The Canadian Web3 community has led the charge on some of the most innovative and high-valued projects globally. World-changing talent and creativity often starts in Canada, only to flourish elsewhere. We can’t afford to miss the opportunity to nurture these talents domestically, for the benefit of all Canadians. We look forward to working collaboratively with policymakers to establish Canada as a hub for Web3 talent and innovation for decades to come.” 

Jelena Djuric and Connor Spelliscy, co-founders of the Canadian Web3 Council.

“As the industry has grown into a multi-trillion-dollar asset class, now is the time for the government to work alongside industry leaders to ensure thoughtful policy is formed. Although there are regulatory challenges when it comes to this nascent industry, the Canadian Web3 Council can work alongside regulators, to help them understand and navigate this complex space. This is a technology at the cross section of the next iteration of the web and the future of finance. Canada has the opportunity to take a leading position on the global stage and become a desired destination for new business relating to the sector.” 

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Brian Mosoff, Ether Capital CEO

“The Canadian crypto ecosystem is poised to flourish and position homegrown Canadian companies as global leaders. But to make this a reality, Web3 industry participants, government and regulators need to work together to create a framework for responsible innovation that sets Canadian businesses and investors up for success. We look forward to being part of the Canadian Web3 Council to help move this forward.” 

Blair Wiley, Chief Legal Officer, Wealthsimple

Canada has been an engine for innovation within the Web3 community over the last several years. The Canadian Web3 community has attracted hundreds of millions in investments and created thousands of jobs already. As members of this community, we are excited and eager to work with Canadian regulators to continue flourishing. Canada has all of the elements to become a global leader in this industry.” 

Adam Reeds and Mauricio Di Bartolomeo, co-founders of Ledn Inc.

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“WonderFi is proud to join the Canadian Web3 Council as a Founding Member. Our mission is to create compliant access to digital assets through centralized and decentralized platforms including through Bitbuy, Canada’s first regulated Crypto Marketplace. We look forward to collaborating with other council members and policymakers to help establish Canada as a leading destination for Web3 innovators and entrepreneurs.” 

Ben Samaroo, WonderFi CEO

SOURCE Canadian Web3 Council (CWC)

Blockchain

LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape

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Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws

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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)

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Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:

BlackRock ETF Embraces Blockchain with First Muni Bond Purchase

BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.

By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.

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Source: Yahoo Finance

Plume Secures Funding for Tokenization Platform

Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.

Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.

Source: Fortune

SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips

SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.

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As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.

Source: The Quantum Insider

Deutsche Bank’s Public, Permissioned Blockchain Initiative

Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.

The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.

Source: CoinDesk

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KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands

Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.

By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.

Source: PR Newswire

Industry Implications and Key Takeaways

Today’s developments highlight the transformative potential of blockchain across multiple domains:

  1. Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
  2. Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
  3. Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
  4. Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
  5. Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.

The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.

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