Industry Interview with Khurram Shroff, CEO of iMining Technologies Inc.

Khurran Shroff, CEO of iMining Technologies Inc.

About iMining Technologies Inc.

iMining (IMIN.V) is a leading Canadian blockchain technology company with diverse business segments across the technology sector and trading publicly on the TSX Venture Exchange. Focussing on supporting institutional investment in the digital economy and bridging the cryptocurrency sector with traditional markets, iMining has been an early Canadian adopter of metaverse investments and project development. With offices currently located in Vancouver and Toronto, the company is undertaking an expansion into the Alberta market.

Headquarters: 580 Hornby Street, Suite 750, Vancouver, BC, V6C 3B6

Scope of Business: Web3.0, blockchain and digital infrastructure, digital assets, cryptocurrency mining, staking and trading

Q: What are some of the key reasons motivating iMining to expand into Alberta as a new office and business location?

A: Alberta has a strong blockchain ecosystem and business friendly policies, which changed our focus from our current locations in BC and Ontario. With the recent prohibitions on crypto mining in China and other countries, there was a big shift to hash power in Texas, and we think Alberta has similar advantages, including great tax policies.

The province has an ideal dry and cold climate, and we think there are a lot of opportunities for sustainable and eco-friendly mining operations. Our business can be supported by a more accessible and friendlier banking infrastructure with ATB. Hopefully the growth of the industry in Alberta will encourage other finance sector participants. We also believe that the government of Alberta is more accessible and interested in collaborating with our industry than in other regions.

Q: Why has iMining chosen to put a strong business focus on the metaverse and Web3?

A: Even cryptocurrency’s previous skeptics like Jamie Dimon of JP Morgan have moved quickly into the metaverse, which has a crypto-based economy, and they’re being joined by most major organizations.

iMining has made strategic real estate acquisitions and launched our head office in Decentraland, which now has a US $6 billion market cap. It’s a powerful tool for business and social good – we’re working with organizations like the Glenrose Rehabilitation Hospital Foundation to help leverage the metaverse for fundraising and brand awareness.

Q: How do you believe that the rapid expansion of the metaverse could benefit the Alberta economy?

A: Searching for the metaverse now brings up 2 billion google hits – it’s gained the publicity in a few months that it took Bitcoin 12 years to achieve.

I believe that the metaverse can help Alberta transition from a resource economy to a technology economy through giving the province’s innovative companies an international presence and marketing. It’s growing exponentially and joining now will be a major advantage.

Q: What can the Alberta government do to support the growth of its blockchain sector, including companies focussed on the metaverse?

A: In other regions that have become crypto hot spots, like Portugal, Dubai and Miami, government engagement and support signalled to the global crypto industry that this was the right place to set up operations. It magnetized talented people and companies around these hubs, and we think Alberta can do the same.

The technology industry is competitive when it comes to talent and tends to cluster around hubs. Facebook’s announcement about their Toronto location and the hiring of 2500 computer engineers makes the city more attractive to skilled people and emerging companies, and we can gain that attention here in Alberta by looking towards the kind of innovation that will make people’s lives better.

It’s also about the integration of technologies like AI, virtual reality and IoT, where Alberta has a strong presence, with blockchain and the metaverse, which will cause a parabolic rise in the tech sector because of their synergies.

Q: What are your future plans in Alberta as you expand your offices?

A: iMining believes Alberta has the three most important factors in a location: a strong technology sector, talented people with great capacities, and an abundance of energy resources. In addition to growing our team and infrastructure, we want to help expand the blockchain ecosystem and build an international reputation for the province.

There is incredible blockchain talent in the world that we can attract here due to the great lifestyle and low cost of living, including from Ukraine, which has some of the world’s top programmers and coders. iMining is currently working with 60 Ukrainian artists and technical experts on a project and think Alberta would be an ideal location. We can be a beacon of innovation to the rest of the world here, and we’re excited to be a part of it.

To read the Canadian Blockchain Consortium white paper, click here.

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