Many years ago I spent 7 months touring around Europe on an old mountain bike. It was a great trip and a great way to travel.

Once you take the front and rear wheels off you should be able to fit a bike in a canoe.

I saw this folding bike a while ago but there no mounts for racks so you would need to carry things in a pack, which is uncomfortable, or rig up a trailer.

http://www.militarybikes.com/products.html