The key issue that we face when we want to offer a meaningful transfer solution is being able to offer bank-to-bank movement of the funds. The way the system is set up right now we cannot. Where would you go to get this access? First, if you request it from the bank, the bank says that Interac exists. Then, if you want to make this meaningful for all Canadians, you need to go to every financial institution, or at least all the major ones, in order to get it.
All of this brings more hurdles in our space and a lot of wasted time. It defeats anybody coming forward to offer these meaningful solutions to Canadians.
On the back end of this, regulation is coming forward now as it comes with everything that comes to blockchain, but also all the licensing that comes with using this technology as a back end for the movement also carries challenges as it comes here.