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Canadian Research Body Pilots Ethereum in Transparency Push
The National Research Council of Canada is trialing the ethereum blockchain for recording government contracts.
By Nikhilesh De
Updated Sep 13, 2021, 7:24 a.m. Published Jan 22, 2018, 4:00 p.m.
The National Research Council of Canada (NRC), a government initiative, is trialing the ethereum blockchain for recording government contracts.
For the pilot, the NRC is using the Catena platform from blockchain startup Bitaccess for publishing information on government grants and contributions over the open-source blockchain.
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The effort is part of a move to make the government's administration boost transparency, according to a press release. The NRC's Industrial Research Assistance Program is the first entity to test the technology, and is already releasing contributions information. The group will also assess how the government can apply blockchain technology in other areas.
Bitaccess co-founder Moe Adham said in a blog post that the company built its Catena Blockchain Suite to help organizations become familiar with using the technology.
He explained:
"Our goal is to enable institutions to become fully transparent, and enable constituents to participate in the verification and validation of public information."
While notable, this is not the first official body in the country to foray into blockchain technology. The Canadian central bank has already begun experimenting with blockchain-based platforms, particularly with settlement systems, as previously reported by CoinDesk.
The Bank of Canada's "Project Jasper," now in its third phase, has conducted research into securities settlements and resiliency under periods of stress.
Canadian flags image via Shutterstock
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