Amid growing interest from investors in blockchain, Pakistan's startups are missing this gravy train.
If you're reading this because the headline says 'blockchain' and you think this write-up will provide insights on investing in cryptocurrencies, here's a disclaimer: This piece is about blockchain technology, not just about cryptocurrencies, the latter being one of its most popular uses.
For the uninitiated, blockchain technology is essentially a digital ledger of transactions that is duplicated and distributed across a network of computer systems.
It’s not unusual for the layperson, however, to confuse anything related to blockchain with cryptocurrencies and there’s good reason too. After all, crypto was not only the first, but is also currently the largest use case of blockchain, in addition to the fact that it serves as the token and medium of exchange for virtually all applications of this technology.
Web3
But the technology has since evolved to include far more than just speculative assets and altcoins — alternative currencies launched after the success of the hugely popular Bitcoin. Web3, the internet based on blockchain, encompasses much more. To the evangelists, it represents a movement that will take control away from the government and big tech corporations and give power back to the people. Basically like Bane from The Dark Knight Rises.
Anyway, even without giving it such a dramatic flair, Web3 presents an opportunity to Pakistan to progress to newer...
Read Full Story: https://www.dawn.com/news/1677527/why-blocking-pakistan-out-of-blockchain-may-cost-us-billions-of-dollars
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