{"id":229088,"date":"2026-06-11T16:35:48","date_gmt":"2026-06-11T20:35:48","guid":{"rendered":"https:\/\/www.interac.ca\/?post_type=content&#038;p=229088"},"modified":"2026-06-11T16:55:12","modified_gmt":"2026-06-11T20:55:12","slug":"everyday-trust-canadas-digital-sovereignty-in-a-shifting-world-order-with-john-ruffolo","status":"publish","type":"content","link":"https:\/\/www.interac.ca\/en\/content\/business\/everyday-trust-canadas-digital-sovereignty-in-a-shifting-world-order-with-john-ruffolo\/","title":{"rendered":"Everyday Trust: Canada\u2019s digital sovereignty in a shifting world order with John Ruffolo"},"content":{"rendered":"\n<p>Trust is often described as invisible infrastructure \u2014 we rely on it constantly, and often only notice it when it breaks.<\/p>\n\n\n\n<p>Global cooperation has historically rested on shared assumptions: That rules would be honoured, institutions respected, and long\u2011standing partnerships grounded in mutual trust would endure. Today, those foundations are being challenged in ways few could have foreseen even a few years ago.&nbsp;The consequences are&nbsp;still coming&nbsp;into focus,&nbsp;but&nbsp;it\u2019s&nbsp;clear that protecting our prosperity will depend on whether we can put some serious actions into practice to protect Canada as a&nbsp;sovereign&nbsp;country\u202f\u2014\u202fwhich could include safeguarding&nbsp;<a href=\"https:\/\/www.interac.ca\/en\/content\/business\/a-turning-point-for-canadas-economic-sovereignty\/\" target=\"_blank\" rel=\"noreferrer noopener\">our digital sovereignty<\/a>.<br><br>Welcome to&nbsp;<a href=\"https:\/\/www.interac.ca\/en\/content\/business\/everyday-trust\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Everyday Trust<\/em>, a series of conversations I host with leading Canadian thinkers<\/a>&nbsp;to&nbsp;explore&nbsp;the ways&nbsp;mutual trust will underpin the future of the digital economy. For&nbsp;this&nbsp;latest&nbsp;episode, I sat down with someone else&nbsp;who\u2019s&nbsp;been dwelling on the same questions. John Ruffolo is&nbsp;the&nbsp;founder of OMERS Ventures, managing partner at Maverix&nbsp;Private Equity, and one of Canada&#8217;s clearest voices on innovation and economic competitiveness. We spoke&nbsp;about what digital sovereignty really means, and&nbsp;what Canada needs to do about it now.&nbsp;At&nbsp;Interac, given our position in the heart of the innovation ecosystem,&nbsp;I\u2019m&nbsp;especially keen to&nbsp;discuss how&nbsp;technological creators and innovators&nbsp;can navigate a world of declining international trust.<\/p>\n\n\n\n<p>My conversation with John was stimulating, timely and, despite everything, optimistic. Here&#8217;s&nbsp;what stood out.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-trust-under-a-shifting-world-order\">1. Trust under a shifting world order<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Everyday Trust S03 | E02 | Trust under a shifting world order\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/fc3Jbatklq8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>When free-trade rules started dissolving&nbsp;it destabilized&nbsp;the whole post-war architecture&nbsp;\u2014 a rules-based arrangement underwritten by shared self-interest and military alliances, which most Canadians grew up with.<\/p>\n\n\n\n<p>\u201cNow no one trusts each other, because everyone&#8217;s out for their own interests. And now we&#8217;re seeing why the concept of trust is so critical, even amongst the nations,\u201d John&nbsp;said.<\/p>\n\n\n\n<p>John noted the implications for our data. If other countries have access to Canadians\u2019 data in a dog-eat-dog world, is that a threat to&nbsp;our digital sovereignty?&nbsp;He suggested the response shouldn\u2019t be isolationism. Sovereignty is about control: the ability to set our own rules and rely on our own systems.<\/p>\n\n\n\n<p>It&#8217;s&nbsp;become clear to me that this&nbsp;isn\u2019t&nbsp;a hypothetical argument anymore. The upshot for Canada is that we&nbsp;have to&nbsp;explore bold and decisive options for safeguarding our independence and&nbsp;<a href=\"https:\/\/www.interac.ca\/en\/content\/business\/what-digital-prosperity-really-means-for-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\">prosperity<\/a>. When I&#8217;m thinking about these challenges, I like to think about it through the lens of agency. Ensuring Canadians can trust the systems they rely on and will work the way Canadians expect them to work will give us some real options when the world becomes unpredictable.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-building-up-canada-s-strengths\">2. Building up Canada\u2019s strengths<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Everyday Trust S03 | E02 |\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/aciNNIA18LI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><a href=\"https:\/\/www.interac.ca\/en\/content\/business\/in-2026-its-time-for-canada-to-get-going\/\" target=\"_blank\" rel=\"noreferrer noopener\">The energy and momentum&nbsp;in&nbsp;2025<\/a>&nbsp;\u2014\u202fthe sense that this is Canada\u2019s time to build up its competitiveness and self-sufficiency \u2014\u202fwas long overdue. Now&nbsp;it&#8217;s&nbsp;really time for us to get going.<\/p>\n\n\n\n<p>John agrees. \u201cWe need to go into action mode, [meaning] bold action, and&nbsp;it&#8217;s&nbsp;not going to be easy. And&nbsp;I think the action&nbsp;really starts at home,\u201d he said, mentioning a list of economic activities,&nbsp;from producing food to biotechnology,&nbsp;over which Canada should exercise sovereignty and independence.<\/p>\n\n\n\n<p>On digital technology, does Canada have the entrepreneurial capacity here to excel and capture more opportunities? \u201cThe short answer is absolutely yes,\u201d John&nbsp;said.<\/p>\n\n\n\n<p>Yet John also echoed a sentiment&nbsp;that\u2019s&nbsp;common among Canadian innovators and entrepreneurs: While Canada can boast of the ideas and&nbsp;know-how&nbsp;necessary to fuel a dynamic innovation sector, the capital is often lacking.&nbsp;What&#8217;s&nbsp;needed, he argued, is a targeted, purposeful funding strategy to give Canadian innovators a boost.<\/p>\n\n\n\n<p>Before we can foster Canadian ingenuity and sovereignty, we&nbsp;have to&nbsp;know where to invest. &#8220;I do think that Canada has a fascinating abundance of resources, particularly in this space. You cannot be all things to everyone, but you can pick your spots,\u201d John said.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" width=\"819\" height=\"1024\" data-src=\"https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-2-1-819x1024.png.webp\" alt=\"\" class=\"wp-image-229155 lazyload\" style=\"--smush-placeholder-width: 819px; --smush-placeholder-aspect-ratio: 819\/1024;aspect-ratio:0.799805494772672;width:413px;height:auto\" data-srcset=\"https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-2-1-819x1024.png.webp 819w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-2-1-240x300.png.webp 240w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-2-1-768x960.png.webp 768w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-2-1.png.webp 1080w\" data-sizes=\"auto\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-original-sizes=\"(max-width: 819px) 100vw, 819px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>\u201cThere is a true opportunity for Canadians to selectively choose the spots where we are the best in the world at it,\u201d he said. He also suggested that Canada should explore new avenues of innovation.\u202fFor example, we have the knowledge and&nbsp;expertise&nbsp;to join the elite group of countries that produce microchips.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-sovereignty-and-the-digital-stack\">3. Sovereignty and the \u2018digital stack\u2019<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Everyday Trust S03 | E02 | Canada\u2019s moment\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/FSwyXdKJrKs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>When people hear the term \u201cdigital sovereignty,\u201d they may assume it just means hosting data (and data centres) here in Canada. John spoke about the \u201cdigital stack\u201d to explain why that perspective is incomplete.<\/p>\n\n\n\n<p>Think of the digital stack as a supply chain that turns data into new digital experiences. At the bottom, there\u2019s physical infrastructure \u2014 data centres, energy,&nbsp;hardware&nbsp;and chips. In the middle are AI models (notably large language models, or LLMs) that process and generate information. At the top, we have the applications that people&nbsp;actually use&nbsp;day to day.<\/p>\n\n\n\n<p>What are the most important parts to control, from an economic perspective?&nbsp;That\u2019s&nbsp;the key question. John said he&nbsp;doesn\u2019t&nbsp;think Canada needs to control every layer, but it would be helpful to know which ones could&nbsp;represent&nbsp;the greatest economic boost.<\/p>\n\n\n\n<p>As I said to John, &#8220;Once you accept that the digital stack is strategic, it stops being a conversation about IT and becomes a conversation about national capabilities and priorities.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-canada-s-moment-to-shine-in-the-global-digital-economy\">4. Canada\u2019s moment to shine in the global digital economy?<\/h3>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-9-16 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Everyday Trust | S03 | E02 |\" width=\"422\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/GE-_pSzLTMo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>The disruption that has exposed Canada&#8217;s vulnerabilities is also, in a very tangible way, creating new openings. Countries around the world are asking the same sovereignty questions we are&nbsp;while&nbsp;looking for partners they can trust.&nbsp;This moment in our relations with the U.S. is challenging for Canada\u2019s economy, but it also offers possibility and opportunity.<\/p>\n\n\n\n<p>For some foreign countries, the answer is Canada, John says. \u201cWe are now overwhelmed by customers, particularly in the [European Union], who are seeking their own sovereignty,\u201d he said.&nbsp;\u201cMost bizarrely, we&#8217;re getting inundated with orders&nbsp;[from]&nbsp;the United States because our system is an open architecture system.\u201d<\/p>\n\n\n\n<p>I take this to mean that a strong, independent Canadian company or offering can be attractive to customers around the world.<\/p>\n\n\n\n<p>I believe this&nbsp;is an opportune moment to name and celebrate the Canadian companies already&nbsp;operating&nbsp;at a global standard,&nbsp;not to take them for granted, as we so often do.&nbsp;I made a point of mentioning Interac, which&nbsp;I\u2019m&nbsp;sure many Canadians&nbsp;don&#8217;t&nbsp;realize is 100 per cent Canadian, and which&nbsp;enables&nbsp;millions of people across the country to transact securely every day.<\/p>\n\n\n\n<p>\u201cBuilt by Canadians, for Canadians\u201d&nbsp;isn\u2019t&nbsp;just a point of pride for us.&nbsp;And just recently, we were once again named the Most Trusted Financial Services Brand in Canada, according to the annual Leger Reputation study. The trust&nbsp;we\u2019ve&nbsp;built is an&nbsp;important asset in this shifting moment in world affairs.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" width=\"819\" height=\"1024\" data-src=\"https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-1-2-819x1024.png.webp\" alt=\"\" class=\"wp-image-229131 lazyload\" style=\"--smush-placeholder-width: 819px; --smush-placeholder-aspect-ratio: 819\/1024;width:476px;height:auto\" data-srcset=\"https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-1-2-819x1024.png.webp 819w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-1-2-240x300.png.webp 240w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-1-2-768x960.png.webp 768w, https:\/\/www.interac.ca\/wp-content\/smush-webp\/2026\/06\/INT_Everyday-Trust_S3_E2_Quote-1-2.png.webp 1080w\" data-sizes=\"auto\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-original-sizes=\"(max-width: 819px) 100vw, 819px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>I came away from my conversation with John confident that&nbsp;Canada&nbsp;can meet the challenges of 2026 and beyond. We have the talent. We have the companies. We have the values. What we need now is the will \u2014 to invest, to choose Canadian solutions. We must treat sovereignty as something that we actively shape, not that we passively inherit.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Want to listen to Everyday Trust? Check out the full episode below.<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Everyday Trust S03 E02 | Canada\u2019s digital sovereignty in a shifting world order\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/tkb1Mh5f_6E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Trust is often described as invisible infrastructure \u2014 we rely on it constantly, and often only notice it when it breaks. Global cooperation has historically rested on shared assumptions: That rules would be honoured, institutions respected, and long\u2011standing partnerships grounded in mutual trust would endure. Today, those foundations are being challenged in ways few could&hellip;<\/p>\n","protected":false},"author":64,"featured_media":229128,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"content-tags":[],"content-category":[189],"spokespeople":[635],"in_the_know_post_format":[169],"class_list":["post-229088","content","type-content","status-publish","format-standard","has-post-thumbnail","hentry","content-category-business","spokespeople-debbie-gamble","in_the_know_post_format-article"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Everyday Trust: Canada\u2019s digital sovereignty in a shifting world order with John Ruffolo - Interac Corp.<\/title>\n<meta name=\"description\" content=\"John Ruffolo of Maverix Private Equity joins Debbie Gamble to talk about digital sovereignty and Canada\u2019s digital economy in an era of diminished trust.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interac.ca\/en\/content\/business\/everyday-trust-canadas-digital-sovereignty-in-a-shifting-world-order-with-john-ruffolo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everyday Trust: Canada\u2019s digital sovereignty in a shifting world order with John Ruffolo\" \/>\n<meta property=\"og:description\" content=\"Trust is often described as invisible infrastructure \u2014 we rely on it constantly, and often only notice it when it breaks. 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