Federal Minister for Science and Technology Shibli Faraz said the government had launched a plan to regularize blockchain and cryptocurrency in Pakistan. SBP, SECP and Finance Division are working for transparency and accountability. Blockchain technology pilot project will be launched in the universities under the Ministry of Science.
Addressing the Blockchain Summit, he said that the Ministry has taken important steps to move towards the use of technology. Developed EVMs and developed science innovation policy. Blockchain will become a 20 billion market by 2024.
He said that about 200 countries have somehow incorporated blockchain in their systems, banks can save 8 to 10 billion annually by using blockchain, using this technology can make voting transparent.