A Canada-based blockchain research effort has added over a dozen members including major companies Tencent and FedEx, and the Ontario Ministry of Health.

The Blockchain Research Institute was originally founded in March by Don and Alex Tapscott, and backed by a group companies like IBM and PepsiCo, as well as a number of blockchain startups.

Aimed to serve as a hub for academic research around the technology, the institute's new members also notably include Deloitte Canada, the Depository Trust & Clearing Corporation (DTCC), Fujitsu, telecom provider Bell Canada and gold mining giant Barrick Gold.

Those backing the effort expressed optimism over the effort in a press release, including Tencent's blockchain lead, Ray Guo, who said:

The institute – which has more than 50 experts developing research and analysis – has also announced that its team will now be working on more than 70 projects. The group has already begun releasing reports exploring blockchain's future potential in a variety of use cases.

The other new members to have joined the research effort are: Capgemini Canada, Cimcorp, the Institute on Governance, KPMG LLP, MKS Switzerland, food retailer Loblaw Companies, interbank network operator Interac and Moog.

FedEx packages image via Vytautas Kielaitis/Shutterstock