Blockshine Consults with Government on Legalisation of Blockchain Technology in Pakistan

Co-chaired by Sam Lee, CEO and founder of Blockchain Global, CEO of Blockchain Centre and Advisor of Blockshine, a global delegation of technology and investment experts had high-level meetings with the Prime Minister Imran Khan, President Arif Alvi, and the Minister of IT Khalid Maqbool Siddiqui. The delegation stimulated a successful dialogue that will drive the adoption and legalisation of Bitcoin and other digital assets in Pakistan. During the summit, Prime Minister Imran Khan conclusively stated that “Pakistan’s digital transformation cannot succeed without Blockchain”.

As a result of the summit, the Pakistan government has given the green light to legalise Bitcoin trading and cryptocurrency focused businesses in the country. This announcement follows the recent “Leaders in Islamabad” summit which was held on the 13th and 14th of March 2019. Details of the recommendations of the summit have been outlined by Business Recorder.

In order to accelerate the development of domestic Blockchain capabilities, a Blockchain Centre will be established in the capital, Islamabad at the National Incubation Centre (NIC) which will facilitate a transfer of skills and knowledge to the region. Founded in 2014, there are currently 14 Blockchain Centres across 11 countries that work to globalise and localise talent and technology, as well as increase understanding to drive dialogue in regulating the process of issuing and trading digital assets in Pakistan.

Pakistan is in an ideal position to benefit from blockchain development. Free from the extensive legacy systems of the West, a digital transformation will be easier to implement and have a much higher impact on the country’s economy, with an estimated two hundred million people set to benefit from greater financial inclusion.

Blockchain Centre Headquarters was established by Layla Dong, CEO of Blockshine. Blockshine has opened offices in five countries around the world, providing comprehensive business consulting and technology solutions to more than thirty blockchain startup companies to date.