Pakcoin Crypto Currency Mania Hits Pakistan

Although it's still early days for Pakistan to fully embrace crypto currency, one major player has recently come to light as Pakistani merchants begin accepting Pakcoin as a form of payment.

Rawalpindi, Pakistan - October 13, 2017 /PressCable/ —

Only recently have crypto currencies such as Bitcoin become more popular in Pakistan, following a period of uncertainty and controversy about its true potential as a secure currency. Digital currency popularity has made a sharp increase this year, with investors flocking with confidence to speculate on this relatively volatile currency. Technology enthusiasts have also begun importing specialized hardware to mine Bitcoins, a process by which transactions can be verified and added to the block chain, which is how new bitcoins are released.

With so much being said about crypto currencies internationally, Pakistan is now also catching on to this new technology. One of the very few Pakistani ventures in crypto currency that have come to light is Pakcoin, a digital currency with a very special focus on Pakistani consumers and businesses. Pakcoin was launched nearly 2 years ago, but it didn’t really come to public attention until a hospital in Pakistan began accepting it as an accepted form of payment.

Infact, the Abid hospital was the first private hospital to accept crypto currency earlier this year throughout the whole of Asia. Following its initial success, other commercial retailers have announced the introduction of Pakcoin as a form of payment, and is currently being used by customers to pay for their purchases. Mr. Abu Shaheer, the founder of Pakcoin, recently commented in an interview that he had been working on a number of computer projects for over 15 years, while describing himself as a computer geek. He added: “Crypto currencies have been around for a number of years, though I only truly realized their true potential back in 2013.”

The man behind Pakistan´s leading crypto currency stated that the inspiration behind Pakcoin came from Auroracoin, an Icelandic based digital currency, which he came across in 2014. He added: “With Pakistan being the fourth largest global freelancer market, I knew our country would soon need its own digital currency, so I proceeded to put my Pakcoin project into action.”

According to Pakcoin’s founder, the crypto currency is based on Litecoin, described as a peer-to-peer digital currency enabling instant, low cost payments to anybody in the world. He added: “Just like Litecoin, Pakcoin is an open source worldwide payment network, and completely decentralized from any central authority. The digital network is completely secured by mathematics and empowers people to have complete control over their own finances.” He also said that their main focus today was to make the crypto currency a lot more adaptable in a real life scenario, similar to POS payments and merchant apps.

Mr. Shaheer also mentioned that they planned to make Pakcoin an acceptable form of payment online and in local stores all over Pakistan, but that it would take some time to put into action. He added: “We plan on educating a large segment of the Pakistani population as well as government officials who are all still unaware about the benefits of crypto currencies. Despite the work and effort needed to make Pakcoin a household name, I am very hopeful about the future of Pakcoin as Pakistan´s leading crypto currency.”

In order to raise awareness about the Pakcoin crypto in Pakistan, 50 PAK are available for free to the first 150,000 Pakistanis who claim them. More Pakistan crypto currency information and the latest news about Pakcoin can be found on their official website, www.pakcoin.io

Contact Info:
Name: Abu Shaheer
Email: Send Email
Organization: Pakcoin
Address: 620 , street 17-A, westridge 2, Rawalpindi, Punjab 44000, Pakistan
Phone: +92-303-5411223

For more information, please visit https://www.pakcoin.io

Source: PressCable

Release ID: 250001

More News From dailytransparent.com

Corporations to keep tax break lost by millions of Americans

Oct 18, 2017

WASHINGTON — Millions of Americans would lose a prized tax break under President Donald Trump's sweeping revamp of the tax code, but corporations would get to keep it. The Republican proposal would eliminate the federal deduction for state and local taxes, a widely popular break used by some 44 million Americans, especially in high-tax, Democratic-leaning states like New York, New Jersey, California and Illinois. But corporations, which pay billions in local property levies and state income taxes, wouldn't be affected. Republicans are determined to overhaul the nation's tax system by year's end, offering a plan that lowers the corporate tax...

Russian TV star Sobchak declares her presidential bid

Oct 18, 2017

MOSCOW — A Russian celebrity TV host shook up the country's political scene Wednesday by announcing her presidential bid, a move that would likely boost public interest in the race but could further fragment the nation's beleaguered opposition. Ksenia Sobchak, 35, announced her intention to become a candidate in March's election in a YouTube video, arguing that Russia has grown tired of its current political elite and needs a change. Sobchak, the daughter of Anatoly Sobchak, the reformist St. Petersburg mayor in the early 1990s, first became known as a socialite and a fashion icon before she launched her successful...

Texts: Sheriff, lawmaker pushed to stop cheerleader protest

Oct 18, 2017

KENNESAW, Ga. — A powerful lawmaker texted a Georgia sheriff, boasting how they pressured a university president to take action after black cheerleaders knelt during the national anthem at a football game. The Atlanta Journal-Constitution obtained the text messages under Georgia's open records act. Kennesaw State University cheerleaders were told they'd be kept off the field at future pregame activities and moved into the stadium tunnel after five of them knelt to protest racial injustice at a college game Sept. 30. In the texts, state Republican Rep. Earl Ehrhart and Cobb County Sheriff Neil Warren thanked each other for their...

Blazes light up California pot farms ahead of legalization

Oct 18, 2017

GLEN ELLEN, Calif. — Desperate to see if wildfires had damaged his farm, Marcos Morales gunned his four-wheel-drive station wagon along the hidden dirt roads that crisscross Sonoma County vineyards. After evading police roadblocks and passing vintners' well-tended pools and houses, he finally arrived to a disheartening sight: Scores of his marijuana plants had been destroyed, and a barn that held 1,600 pounds of ready-for-market pot was a smoldering ruin. The same fires that destroyed Northern California wineries and threatened to taint grapes still on the vine also took a toll on the region's marijuana farms, which were about to...

Prophets of Rage hope to be 'soundtrack for the resistance'

Oct 18, 2017

NEW YORK — When it comes to protest music, there's the subtle stuff and the really angry stuff. The all-star band Prophets of Rage takes the latter to a whole new grab-you-by-the-throat level. Their volcanic self-titled debut album tackles racism, poverty, drones, homelessness, police injustice, marijuana legalization, capitalism, national borders, the wealth gap and gun violence. "In this day and age, there is no other band doing what we're doing musically, no other band doing what we're doing politically. That lane is open," said guitarist and leader Tom Morello. That the Prophets of Rage mix social consciousness with a fusion...