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 thebudgetreport.com

King's legacy still felt strongly as Thailand bids goodbye

Oct 21, 2017

HUAY HOM, Thailand — Half a century has passed and the king is dead, but the villagers of Huay Hom still haven't forgotten the day Bhumibol Adulyadej descended by helicopter into their remote, impoverished mountain valley in northern Thailand and changed their lives forever. The king, they recall, brought electricity and a road that replaced the trail they trudged over for eight hours to reach the nearest roadhead. Coffee growing was greatly expanded and soon supplanted opium harvests, reaching such high quality that Starbucks is now a steady customer. The village even reaped profits from the royal-assisted raising of sheep...

No distress call after fishing boat with foreign crew wrecks

Oct 21, 2017

HONOLULU — A boat that ran aground off Honolulu while transporting foreign fishermen to work in Hawaii's commercial fishing industry has raised new questions about the safety and working conditions for foreign laborers in this unique U.S. fleet. A long, cramped journey to the United States for a group of fishermen from Vietnam, Indonesia, Philippines and Kiribati ended with a U.S. Coast Guard rescue last week after their fishing vessel smashed into a reef just off Waikiki's shore. No one aboard the boat called for help after the crash. A 2016 Associated Press investigation revealed the Hawaii fleet exploits a...

At GE, a new urgency to return to industrial roots

Oct 21, 2017

NEW YORK — General Electric's new CEO is starting to lay out bold plans to return the conglomerate to its industrial roots by slashing costs and streamlining its operations. John Flannery said Friday that the company will shed business units worth more than $20 billion over the next year or two. Flannery, who has been on the job less than three months, is expected to provide more details next month on how he will put his own stamp on the Boston-based manufacturing giant. But he offered plenty of hints after GE's latest disappointing financial results. GE drastically cut expectations for...

Power to the people: 2 Italy regions to hold autonomy votes

Oct 21, 2017

VERONA, Italy — It is greater autonomy __ not independence __ that two of Italy's wealthiest regions are seeking in a pair of referendums Sunday, yet Catalonia's secessionist ambitions in nearby Spain loom large over the debate. While the presidents of Lombardy and Veneto in northern Italy are campaigning on the economic benefits of loosening Rome's grip, identity politics also is playing a role, particularly in Veneto, heir to the once-vast Venetian Republic, where a political fringe has never given up on secession even though that's been long abandoned by the governing Northern League party. Both Veneto President Luca Zaia...

Spanish PM to unveil measures to fight Catalan separatists

Oct 21, 2017

BARCELONA, Spain — Spain's prime minister says his government will unveil specific measures Saturday to halt Catalonia's independence bid but refused to confirm if that included plans to hold a regional election in January. The opposition Socialists are supporting the conservative government's effort to rein in the country's deepest political crisis in decades. The Socialists' main negotiator, Carmen Calvo, said earlier Friday that an early election in the prosperous northeastern region of Catalonia had been agreed upon as part of the deal. Prime Minister Mariano Rajoy, commenting on the unprecedented constitutional step his government is taking to assume control of...