Quadriga Will Launch the First Canadian Blockchain R&D Lab

Journalist:
Samburaj Das @sambdas
November 8, 2015

Quadriga Corp is launching Canada’s first exclusive research and development lab for Blockchain technology and is already working on its first project.

Quadriga Corporation is launching Canada’s first R&D lab for Blockchain technology and has already drawn up plans for its very first project.

In a press release, Vancouver-based Quadriga, widely known as Canada’s largest bitcoin exchange has chalked out the lab’s first project – a platform developed to serve two core functions.

They are, handling the “onboarding and client data management for financial crime systems” using Blockchain technology and; supporting machine to machine (M2M) payments with always-on Internet of Things (IoT) providers for all participating cities.

The application for blockchain as a verifiable, incorruptible ledger could prove to be a key feature in checking for and preventing financial crimes.

Quadriga CEO Gerald Cotton said:

Blockchain technology has an unchangeable, fully traceable ledger of activity and as such, represents a crucial innovation for financial technology, particularly for systems designed to combat money laundering, terrorist financing and fraud.

Furthermore, citing the growing need for reliable instant payments, he added:

We are very excited to be starting a Blockchain lab and helping to develop FinTech in Canada…to be the intersection point for M2M payments for cities as they become digital and need to build in micro-payments that are efficient, instantaneous and transparent.

Last month, a group of mainstream Bitcoin companies and prominent individuals in the Bitcoin space formed the Blockchain Alliance as a means to help law enforcement use and understand blockchain in combating crime.

Featured image of Vancouver from Shutterstock.

Tags: canada
Samburaj Das @sambdas

Samburaj is the Editor for CCN, among the earliest and foremost publications covering financial and blockchain news. He has authored over 2,000 articles for CCN. Email him samburaj(@)ccn.com or find him barely tweeting @sambdas