Just recently, the Digital Chamber of Commerce in Canada released its October report that highlights the current status of the Blockchain industry in the country. Over 150 representatives from Blockchain and crypto industries, as well as the government, had been asked to participate in the study. Based on the results, the Blockchain sector is one of the highest-paying industries in the country.
The study was carried out by the Blockchain Research Institute (BRI) with the help of Accenture, a professional services firm. Aside from gathering data that could help them identify the health of the Blockchain industry, the researchers also looked through the legal status of the ecosystem.
Blockchain professionals are reaping significant salaries annually
As per the report, a Blockchain professional averagely earns around $98,000 in salaries in a year. This figure puts Blockchain careers as one of the healthiest and highest-paying in the country. According to Tanya Woods, Managing Director of the Canadian Chamber of Digital Commerce, the country’s existing Blockchain ecosystem employs top talents, thanks to its pro-growth policies. However, she notes that such systems still need to be leveraged if the country seeks to become a global leader and a number 1 hub for Blockchain opportunities.
The government has to play its role
According to Don Tapscott, chairman of the BRI, while the research revealed that the Blockchain industry is flourishing throughout the country, they have found out several underlying issues as well. Among the situations cited in the report is the existence of Blockchain environments with uncertain regulations, as well as the escalating challenges relating to access to business services and funding.
Tapscott further stressed that Canada exhibits great potential in becoming one of the global leaders in the Blockchain industry. However, without proper guidance from the country’s officials, lawmakers, and regulators, Canada could be easily left out of the game. He noted that the government needs to deepen its commitment to the Blockchain sector, especially during this time that the ecosystem is facing significant challenges such as lack of clarity in the industry, insufficient knowledge, and poor cooperation from banks and auditing institutions.
Tapscott ended his statement by emphasizing that for the industry to reach its maximum potential, the government must work on providing more clarity in terms of legal governance.