ISLAMABAD – The Ministry of Science and Technology has hosted Pakistan’s first Blockchain Summit in the federal capital and it was attended by international experts.
The event was powered by BSV Blockchain, a regulation-friendly global distributed utility data management blockchain for enterprises, governments & public sectors, and Ejad Labs, the collaborative innovation lab for South Asian entrepreneurs.
Minister for Science Shibli Faraz and various speakers expressed their view on the occasion, appreciating the summit held on Tuesday.
Addressing the event, Shibli Faraz said that the government intends to regularize cryptocurrency in the country.
#happeningnow Federal Minister for S&T, Senator @shiblifaraz, is speaking at the 1st Pakistan Blockchain Summit featuring international blockchain experts @JimmyWinSV from @BSVBlockchain @thefeelogical. pic.twitter.com/JT0JnpKkQm
— Ministry of Science & Technology (@MinistryofST) January 18, 2022
He said the State Bank of Pakistan, Securities and Exchange Commission and Finance Division are already working on the plan.
The Minister said blockchain will become a 20-billion market by 2024 and about 200 countries have somehow incorporated it into their systems.
He said people are turning to cryptocurrency without proper planning, therefore, government’s control is essential for prevention from loss and ensuring transparency in it.
Shibli Faraz said banks can save eight to ten billion rupees annually by using blockchain....
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