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 Daily Transparent

US envoy: Trump leads on N. Korea as G7 ministers meet

Apr 22, 2018

CHARLEVOIX, Quebec — The U.S. ambassador to Canada said Sunday that President Donald Trump is leading international efforts to persuade North Korea to give up its nuclear weapons. Ambassador Kelly Craft offered that assessment as foreign ministers from the G7 group of industrialized nations began meetings in Toronto to discuss global peace and security challenges, with the North Korean nuclear crisis and tensions with Russia taking center stage. "President Trump is really carrying the water on the North Korea issue. It's something we've also been working closely with Canada on," Craft said in a statement. North Korea has pledged to...

Accepting rights award, Kaepernick decries 'legal lynching'

Apr 22, 2018

AMSTERDAM — Amnesty International gave former NFL quarterback Colin Kaepernick its Ambassador of Conscience Award on Saturday for his kneeling protest of racial injustice that launched a sports movement and might have cost him his job. Onetime San Francisco 49ers teammate Eric Reid presented Kaepernick with the award during a ceremony in Amsterdam, the capital of the Netherlands. In his acceptance speech, the award-winner described police killings of African Americans and Latinos in the United States as lawful lynchings. "Racialized oppression and dehumanization is woven into the very fabric of our nation — the effects of which can be seen...

UN officials in Sweden for talks on North Korea, Syria

Apr 22, 2018

BACKAKRA, Sweden — The U.N. secretary-general and ambassadors from countries on the Security Council assembled Saturday in Sweden for an informal meeting on weighty international issues, including developments on the Korean Peninsula and in Syria. The annual joint brainstorming session for the United Nations' movers and shakers is being hosted this year by the Swedish government on the picturesque farm estate of Dag Hammarskjold in southern Sweden. Hammarskjold was a Swedish diplomat who served as the second U.N. secretary-general before he died in a plane crash in September 1961. Talking to reporters before the meeting, U.N. Secretary-General Antonio Guterres briefly...

UEFA: Europa League trophy not damaged after being stolen

Apr 22, 2018

NYON, Switzerland — UEFA says the Europa League trophy was not damaged after being stolen in Mexico. The silverware was at a promotional event in the central city of Leon when it was reported by authorities to have been taken from a vehicle. The theft came ahead of the semifinals of Europe's second-tier club competition. UEFA says the "Europa League trophy was in Mexico for a partner event and got briefly stolen. It was quickly recovered and has suffered no damages." In the semifinal first legs next week, Arsenal plays Atletico Madrid and Marseille takes on Salzburg.

American woman sentenced to life in Canada for deadly plot

Apr 22, 2018

HALIFAX, Nova Scotia — An American woman who plotted to go on a Valentine's Day shooting rampage at a Canadian mall was sentenced to life in prison Friday with no chance of parole for nearly a decade. Lindsay Souvannarath of Geneva, Illinois pleaded guilty last year to conspiracy to commit murder in a plan that involved opening fire at a mall in Halifax, Nova Scotia in 2015. Nova Scotia Supreme Court Justice Peter Rosinski said that Souvannarath is and will remain a threat to society. He said she has not expressed remorse for her plot. Rosinski also said that if...

Sign up now!