Bitcoin Bay, BitAngels partner to increase investment in Toronto blockchain ecosystem

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Bitcoin Bay, a Toronto-based blockchain and solutions company, is partnering with BitAngels, a US-founded investor network for the blockchain sector, to host educational events in an effort to grow Canada’s blockchain investment ecosystem.

“Through our partnership, we aim to accelerate blockchain adoption not only in Toronto, but internationally.”

Bitcoin Bay will become BitAngels’ city leader for Toronto, and will host monthly and bi-monthly events focused on market trends, blockchain startup presentations, and networking for an audience of venture capitalists, angel investors, entrepreneurs, and developers, as well as cryptocurrency funds and exchanges. Bitcoin Bay represents the first BitAngels leader in a Canadian city.

“Through our partnership, we aim to accelerate blockchain adoption not only in Toronto, but internationally, by connecting global entrepreneurs, investors, and communities through exclusive networking events,” said Edward Buchi, co-founder and director of Bitcoin Bay. “Founders are invited to pitch their projects to investors, and give them an early inside look at some of the most exciting up-and-coming blockchain ventures.”

A 2018 report from Deloitte found that 51 percent of respondents in Canada were currently investing in blockchain, more than double that of those surveyed in the United States. But some say the industry still faces challenges in expanding. Last month, the Chamber of Digital Commerce Canada released a set of recommendations to urge the federal government to create a clear regulatory framework for the blockchain industry.

Tanya Woods, managing director of Canada for the Chamber of Digital Commerce attributed the gap for the industry to a lack of education and understanding of blockchain itself. One of its recommendations was for the government to offer pro-growth statements, programs, and policy to encourage the private sector.

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The partnership between BitAngels and Bitcoin Bay is intended to help scale the emerging sector. Bitcoin Bay, active since 2013, consists of blockchain experts that offer consulting, product development, smart contract application development, education, and community engagement services.

BitAngels, launched in 2013, calls itself the first angel network for digital currency startups. The network holds events allowing founders to pitch to investors and the blockchain community, as well as networking and education opportunities around cryptocurrency. BitAngels is a division of Transform Group, a blockchain PR and events company.

The Toronto event calendar will be posted in the coming weeks with the first event scheduled for the end of September. Applications and event registration are currently open on BitAngels’ website.

Image courtesy Unsplash

Isabelle Kirkwood

Isabelle Kirkwood

Writer, globetrotter, drone pilot & David Attenborough enthusiast