The Canadian province of Alberta intends to become a center for the development of mining and cryptocurrencies – Bits Media

Minister of Employment, economy and innovation of the Canadian province of Alberta Doug Schweitzer is going to make it an international center for the development of mining and cryptocurrency.

In a recent interview with Doug Schweitzer (Doug Schweitzer) stated, that Alberta is rich in oil resources, which can be used for the benefit of the cryptocurrency industry. Schweitzer believes, that thanks to the abundance of natural gas in the province, its electricity market and greenhouse gas emission offsets, Alberta could create favorable conditions for mining firms to operate.

The minister called cryptocurrency mining a “revolutionary industry”, and declared his readiness to develop it. According to Schweitzer, the rest of Canada's provinces are not so interested in this, however, the Alberta administration is ready to create a “regulatory sandbox”, which will simplify the work of data centers and miners in the province.

He noted, that this will diversify the province's economy, to reduce its dependence on the volatile oil and gas sector, especially as some market participants began to move away from fossil fuels. Many companies, related to cryptocurrencies, have already relocated to Alberta, by Blockchain Guru, Terraform и Bitcoin Well. Except miners, Alberta intends to attract blockchain and cryptocurrency specialists.

“We are ready to organize an international race for technical talents. Taking a closer look at the space of cryptocurrencies and decentralized finance, can be understood, that these industries will never disappear", - said Schweitzer.

Recently, the head of the investment company Wealthsimple Michael Katchen (Michael Katchen) stated, that Canada is working to attract cryptocurrency projects to the country, and for this all that remains is to work out the regulation of the industry.