The Canadian Government Launches An Ethereum Based Blockchain Technology

With the rampant expansion of the cryptocurrency industry, Canada has embraced the business to ensure its citizens are benefiting. The Canadian government has gone to the extent of establishing an Ethereum blockchain explorer. The launching of the platform known as Catena was through the input of the National Research Council of Canada (NRC). Bitaccess developed the application and reports have it that the Industrial Research Assistance Program (IRAP) is now hosting it.

For ease of accessibility and given that the data is data is not organized, the hosting will be through the InterPlanetary File System (IPFS). According to Bitaccess co-founder Moe Adham, the users of explorer will easy navigation in their way of storing and sharing data thanks to the use of a peer-to-peer method.

The reception of the technology has been incredible. Applauding the same, Adhma wrote, “We built the Catena Blockchain Suite as a simple, low risk, application for institutions to get introduced to blockchain technology.”

One of its many benefits is that it will bring along transparency in the administration of government contracts. The transparency will grant official participation of institutions to verify and validate public knowledge. Given that Catena is more of a search engine, it users will exercise instant search of published grants and contribution data. They will also access any new or amended Contribution Agreements with various firms. 

According to NRC, the use of the blockchain technology is still in its early days. However, both the NRC and IRAP have been carrying out experiments to ascertain the future viability of the blockchain. The two are looking forward to offering constructive insight into this technology given the potentiality it has. Apparently, there has been a live trial of the public blockchain technology on ethereum. The Canadian government carried out the trial earlier in the year. 

NRC’s entry into Canada is the company’s second move into North America within this year. It already has operations in San Francisco and it aims at providing safe, professional and world-class services. Apparently, the peer-to-peer cryptocurrency trading method has not felt the impact of hostility from the domestic banks.