Innovation, Jobs and Rural Economic Opportunity
Blockchain technologies play an essential role in the latest “fintech” applications and, more and more, they are being studied for how they can support new and improved iterations of technologies, financial and otherwise. Digital asset mining is more than speculation on digital assets: it is participating and supporting an emerging, de-centralized version of internet technologies.
Coalition members directly employ currently hundreds of highly-skilled people in Canada, and this number will only grow. The development of new digital mining facilities is already bringing significant economic benefits to the communities in which they operate - especially in more remote and economically depressed regions - including in the construction and maintenance of these facilities, building the high-speed internet infrastructure required to operate them, and the training of employees who acquire highly sought after technical skills that are transferrable across the industry today and will be increasingly in demand as the blockchain industry continues to grow.
Canada is uniquely positioned to be a major player in the global blockchain ecosystem if the government allows this industry to thrive. Canada has a global competitive advantage in the development this transformative technology by being the home to inventors and early adopters of Ethereum blockchain protocol and use cases. This leading role is further strengthened by a vibrant and rapidly growing community of technology companies and research institutions focus on the development of blockchain technology. Canada provides a stable political, legal, and financial environment for digital asset mining companies. Canada has a naturally cool, dry climate that is excellent for building and operating digital asset mining infrastructure. And Canada has an unusually clean power grid that allows digital asset mining to be conducted with the lowest possible emissions from power consumption.
Digital asset mining is already making a positive contribution to the optimization of Canada’s electricity grids as our country transitions towards net-zero goals. Depending on the context, digital asset mining operations can support the deployment of grid capacity by acting either as a consistent baseload user of power or as a dispatchable customer that can help manage the delta between different levels of demand. Ultimately, this leads to better grid utilization, a broader base on which to share fixed costs and, for consumers, lower electricity bills.
Finally, digital asset mining supports an ecosystem of economic development, especially in communities that may not be traditional hot-beds of technology-focused economic activity. Digital asset mining operations have been a draw for investment in remote communities that often have the kinds of climate conditions and access to clean energy that are ideal for digital asset mining operations. The benefits of industrial level power infrastructure and world-class internet access that digital asset miners require are being shared with local communities, giving them access to services and economic activities that they would otherwise lack.
DMG Blockchain Solution's facility in Christina Lake, BC.
"We took an abandoned wood finger joint factory and transformed it into one of Canada's leading digital asset mining facilities. As a result of the amount of clean grid power used at the facility, local citizens have not had an increase in the cost of electricity in several years!"
Sheldon Bennet, DMG Blockchain CEO