When planes land in snowy conditions at Chicago’s O’Hare International Airport, they are guided by a machine learning system that makes sure they are positioned within two meters of a specific point 99 percent of the time, a process that requires the highest possible degree of accuracy and security.
The system was built using a complex application of AI and blockchain and is now used in some of the world’s busiest airports.
It was created by two founders based in Hamilton, Ontario. “We did an aviation tracking project and no one really knew,” said Colin Gagich, co-founder and CEO of Inference Labs. “Canadian Web3 tech is highly undervalued. We’re like a sleeper cell no one knows about.”
BetaKit Talks: You Don’t Know Crypto, will take place on Sept. 24, in partnership with WonderFi, which hopes to engage a broader audience with the innovations of Canadian tech that are being built “on-chain.”
“There’s so much important work being done by Canadian companies right now that is highly relevant to conversations about security, privacy and AI.”
Dean Skurka
WonderFi CEO
“There’s so much important work being done by Canadian companies right now that is highly relevant to conversations about security, privacy and AI,” said WonderFi CEO and president Dean Skurka. “We want to create an opportunity to talk about these innovations in a way that’s accessible and engaging to those who may work outside of crypto, so the entire ecosystem can benefit.”
WonderFi is the parent company of two crypto trading platforms, Bitbuy and Coinsquare, and describes itself as the Canadian gateway to crypto. Its innovation and development arm, WonderFi Labs, is focused on decentralized technologies and their future applications.
Skurka believes Canadian Web3 innovations should be top-of-mind for all startup CEOs, investors, government and corporate leaders, and the event will showcase insights and impactful technology from companies including Inference Labs, Figment, Jackal Labs, and Noble.
Jelena Djuric, CEO and co-founder of Noble, said that few people understand the unique history of Web3 in Canada and how it has created a valuable concentration of talent and innovation.
Most notable, she said, is Canada’s connection to Ethereum, conceived by Toronto’s Vitalik Buterin with philosophical intentions that extend beyond cryptocurrency.
“So many prominent builders started in Toronto because of the Ethereum connection,” said Djuric. “A lot of those folks had a lot of good ideas that blossomed.”
Shana Derman, of blockchain infrastructure provider Figment, believes that issues of trust and security should be prompting all Canadian business leaders to focus on blockchain and Web3 work “It’s a security environment. It’s a safety mechanism,” she said. “Blockchain is the backbone of everything that’s trustworthy.”
Like many founders and builders across the wider Canadian technology sector, founders working within the Web3 space do not feel as though their innovations are widely understood or appreciated. And that environment is casting the future of Canadian Web3 into doubt.
“It’s a risk framework to stay in Canada right now,” said Patrick Dunlop, co-founder and CEO of Jackal Labs. “Companies are building things that are delivering value. But we don’t have a regulatory framework and we’re being pushed outside.”
At Inference Labs, Gagich said their work is motivated by a desire to ensure AI is developed and applied while protecting privacy and individual rights; something he wishes was more prominent in conversation around the technology. “We’re trying to build this alternative business model for tech companies and that conversation is relevant to lots of people,” he said. “I can’t even find a Canadian lawyer who can tell us how to do our taxes. The person who needs to hear this obviously hasn’t heard it.”
BetaKit Talks events are designed to engage the tech community in relevant in-person conversations, and to connect leaders from across sectors to explore the benefits, challenges and opportunities facing Canadian tech.
For Skurka, the “You Don’t Know Crypto” event is a chance for WonderFi to encourage collaboration, mentorship and community within the sector, and to connect other business leaders with ideas about what’s possible.
“WonderFi is committed to being at the forefront of crypto and Web3 innovation for Canadians. It is crucial for industry leaders to not only acknowledge but actively embrace the innovative on-chain developments happening today,” said Skurka. “This is precisely why we are thrilled to partner with BetaKit in hosting this pivotal event, aimed at fostering greater understanding and collaboration in this transformative space.”
Register to attend BetaKit Talks: You Don’t Know Crypto, presented by WonderFi.