Driven by advances in data analytics, machine learning, and smart devices, financial technology is changing the way Canadians interact with the financial sector. The evolving landscape is further influenced by cryptocurrencies: non-fiat, decentralized digital payment systems, like Bitcoin, that operate outside the formal financial sector. While Bitcoin has garnered attention for facilitating criminal activity, including money laundering, terrorism financing, digital ransomware, weapons trafficking, and tax evasion, it is Bitcoin's underlying protocol, the blockchain, that represents an innovation capable of transforming financial services and challenging existing security, financial, and public safety regulations and policies. Canada's challenge is to find the right balance between oversight and innovation. Our paper examines these competing interests: we provide an overview of blockchain technologies, illustrate their potential in Canada and abroad, and examine the government's role in fostering innovation while concurrently bolstering regulations, maintaining public safety, and securing the integrity of financial systems.

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The future of cybersecurity is in flux. Artificial intelligence challenges existing notions of security, human rights, and governance. Digital misinformation campaigns leverage fabrications and mistruths for political and geostrategic gain. And the Internet of Things—a digital landscape in which billions of wireless objects from smart fridges to smart cars are tethered together—provides new means to distribute and conduct cyberattacks. As technological developments alter the way we think about cybersecurity, they will likewise broaden the way governments and societies will have to learn to respond. This policy brief discusses the emerging landscape of cybersecurity in Canada and abroad, with the intent of informing public debate and discourse on emerging cyber challenges and opportunities.

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