Canada’s economy is growing by 2% every year in this decade. Experts expect economic growth of 3.5% from 2020. According to the latest studies, Canadians are very tech-savvy people. Canada loves technology and the most recent technological advancement.
Experts believe that technological allowance gave them unmatched economic growth in the last few years. What other countries can learn from Canada? Let’s break down Canada’s officials’ decisions about the latest technologies.
The cryptocurrency was welcomed in Canada four years ago
Unlike other countries where Cryptocurrencies were blocked or blacklisted, Canada’s authorities decided to meet new-age payments with open hands. It’s almost impossible to control Crypto transactions as there is no middleman between two persons.
No Banks or governments can track the exact amount of crypto transactions. Experts from banks believed that the crypto rush could be problematic on a big scale – they were wrong. Canada welcomed Bitcoin and Ripple back in 2015.
Unlike Russia, where Bitcoin was named as a property, Canadians were allowed to use CryptoCrypto for any online transaction. Every business operator has the right to use Bitcoin payments along with other online transactions (Visa, MasterCard, etc.)
The gaming industry delivers billions every year to the Canadian economy
The video games industry has filled the Canadian economy with 4.5 billion dollars. It’s another historic year for video game developers. Canada is very popular in this field, as many popular companies are based in-country.
Along with the video games industry, gambling is growing. We see a new trend – new online casino platforms.
Canada has allowed online presence in many casino venues.
The country decided to make Canadians’ lives better as they will feel comfortable at home after a tiring job.
Technological development will enable people to make decisions with ease. Experts believe that Canadian casino operators will deliver more than 20 billion Canadian dollars in 2020.
It’s not as big as Las Vegas or Macau, but country authorities hope to top those resorts soon.
Being first on the market
Canada is the first country to allow technological advancements to the advantage of the country. Officials are always first to react to new achievements. The same scenario was with the Bitcoin era. At first, everyone was in fear because of the uncontrolled system.
Bitcoin is the most uncontrollable system from every part – banks, government, middle-man, etc. Canada, China, and Australia were the first to step up and allow payments and transactions into the CryptoCrypto.
That’s the courage driving the Canadian economy higher every year.