Blockchain

Pakistani President Calls for Enhanced Blockchain Technology Training

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Arif Alvi, who is currently the president of Pakistan, called for additional training in emerging technologies including blockchain, artificial intelligence and cybersecurity during a meeting with a delegation of blockchain technology experts.

In Monday’s announcement, Alvi Say Pakistan’s talent pool should be ready to meet the demands of the Fourth Industrial Revolution, which includes leveraging blockchain technology in both the public and private sectors. According to the Pakistani president, the technology could be used as a government tool to track transactions, reduce corruption and increase transparency. The panel included Bitcoin SV advocate Jimmy Nguyen, founding president of the Bitcoin Association.

The meeting was held shortly before the President of Pakistan Announce He will appoint Noor Muhammad Dummar as the senior finance minister of the country’s Balochistan province.Pakistan’s Federal Ministry of Finance and Law has yet to legislate on a potential blanket ban on cryptocurrencies in the country, but State Bank of Pakistan reportedly argued Cryptocurrencies such as Bitcoin (bitcoin) is illegal and cannot be used for transactions.

A report by crypto analytics firm Chainalysis in October 2021 revealed that Pakistan has Third Highest Crypto Adoption Rate After Vietnam and India, transfers in the country exceeded $10 million, accounting for 28% of transactions.The country’s central bank also said that in 2021 it will Research possible launch Pakistan’s central bank digital currency.

related: Pakistanis own $20B in crypto, says local association head

However, some officials in Pakistan appear to be linking digital assets to fraud after investors were involved in a multi-million dollar crypto scam. Misdirected remittance From Binance Wallet to unknown third-party wallets – some reports suggest investors lost as much as $100 million.According to reports, the Pakistan Telecommunications Authority blocked Websites that handle cryptocurrencies to prevent fraud and money laundering.