Industry committee  It was Mr. Thomas, but yes.

Industry committee  This is a question that I'm extremely passionate about, and I think about it a fair bit. I believe 100% that there is an opportunity here to lean into this world. The way that I think about this is this. Let's say that 98% of transactions that take place in Canada are denominate

Industry committee  I would just add in one very small thing. Understanding that while we protect Canadians and while we set off on that journey—of course in good spirit—it may mean blocking those same Canadians from participating in the cutting-edge technology and opportunities or assets. They're

Industry committee  I believe that in China, many citizens are able to run VPNs and likely participate on-chain in various activities. What China or any other state or country can do is regulate the on-ramps and the off-ramps and essentially block their citizens from being able to exit or enter that

Industry committee  I'll let Mr. Thomas chime in, but as I mentioned, I don't believe that the young people today are likely buying structured products like Bitcoin or Ethereum ETFs. Those assets are being held in custody—or cold storage—largely with Gemini or Coinbase. These are two highly regula

Industry committee  I'm sorry I don't know what moon shots are.

Industry committee  I would agree with that, even though bitcoin seems extremely volatile, and it is volatile. It has been since its inception. The question is this: Do people have a fundamental right to opt out of a monetary policy in their local jurisdiction? It's not something on which I can say

Industry committee  I admittedly don't know what a moon shot is. I'm not sure if that's an application or an NFT. However, the technology today that is really exciting is figuring out how you scale up these networks to allow transactions to take place at a fraction of a penny, and what type of econo

Industry committee  If I can add to that.... You've seen a shift in the two largest networks, Bitcoin and Ethereum. In Bitcoin mining, which uses electricity and computing hardware to validate the network, they are essentially arbing the cost of electricity. That's the simple way of thinking about

Industry committee  I would start by saying that the technology and ability to access this global financial layer is very important. What we're watching right now is a bifurcation in our traditional financial system. We're seeing countries being cut off. We're seeing people's bank accounts being s

Industry committee  If I could just chime in here—

Industry committee  I would start by saying that you have to ask the question, “What is the definition of a blockchain?” This is perhaps a somewhat hotly debated topic. My view is that a blockchain is a trust coordination mechanism, meaning if you have two counterparties that do trust one another,

Industry committee  I can't speak to Helium. I would ask someone else to jump in if they know that system. Again, if you look at why Ethereum was created to be different from Bitcoin, you see it's trying to build a settlement layer for any asset or any activity. Those assets can be real-world toke

Industry committee  This is going to be fairly speculative, because I think it's very hard to quantify, but I would say that if you imagined Ethereum as a business that was created, it would be one of the largest that Canada has ever seen. The total value of that platform is many hundreds of billion

Industry committee  I would also add to that. When I think about the next generation, the people who are 15 to 20 years old today, they're inspired to work in this industry. They see it as a design canvas that is so wide, with a lot of interesting intellectual problems that need to be solved. How do