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 Press Releases

From boat makers to farmers, US-led tariff war inflicts pain

Jun 24, 2018

WASHINGTON — A Florida boat builder absorbs $4 million in lost business and expects more pain. An Ohio pork producer is losing access to a vital export market and fears the damage will last years. A motorcycle shop near Cologne, Germany, wonders if it even has a future. A brawl that the United States provoked with its closest trading partners is starting to draw blood. On Friday, the European Union began imposing tariffs on $3.4 billion in American goods — from whiskey and motorcycles to peanuts and cranberries — to retaliate for President Donald Trump's own tariffs on imported steel...

Many Brazilians look to military amid anger at politicians

Jun 24, 2018

RIO DE JANEIRO — Furious at corrupt politicians and fearful of deteriorating security, many Brazilians are calling for a military intervention to clean house of crooked leaders and crack down on heavily armed drug gangs. While chances of a military takeover in Latin America's largest nation are small, the calls have become such a part of the national discussion that several generals have felt compelled to deny any interest in such a move — though that hasn't kept them from sounding off on politics in a way that raises questions. Such discussions would have been unthinkable even a few years...

Global markets, oil rise as OPEC mulls output increase

Jun 24, 2018

SEOUL, South Korea — Global stocks and oil prices were higher Friday as investors monitored OPEC's discussion on increasing crude production. Caution remained, however, over trade disputes between China and the U.S. as well as between the U.S. and Europe that could hurt corporate profits and jobs. KEEPING SCORE: Britain's FTSE 100 was up 1 percent to 7,630 and France's CAC 40 advanced 0.9 percent to 5,361. Germany's DAX gained 0.4 percent to 12,561. Futures augured gains on Wall Street. S&P and Dow futures both advanced 0.4 percent. OIL: Prices of oil rose as OPEC met Friday to consider increasing...

Turkey heads to landmark presidential, parliamentary vote

Jun 24, 2018

ISTANBUL — President Recep Tayyip Erdogan, who has never lost an election, is taking a gamble that will consolidate his hold on power in Turkey if he emerges victorious from Sunday's landmark presidential and parliamentary vote. But winning the election he called more than a year early might not be as straightforward as he might have hoped. For the first time, Turkey's disparate opposition — made up of secularists, nationalists, Islamists and Kurds — is showing a more united front, with some parties joining forces. Meanwhile the economy, to which Erdogan could once point as a shining example of his...

Hawks acquire point guard Trae Young in swap of top-5 picks

Jun 24, 2018

ATLANTA — The Atlanta Hawks draft room was split between Luka Doncic and Trae Young. The Hawks ultimately chose Young because he brought the Hawks a first-round draft pick. The Hawks added a new floor leader to their rebuilding effort by acquiring Young in Thursday night's exchange of NBA draft picks with the Dallas Mavericks. Atlanta drafted Doncic, the guard from Slovenia, with the No. 3 overall pick and then traded rights to Doncic to Dallas for rights to Young, who was the No. 5 selection, and a 2019 first-round pick. For Hawks general manager Travis Schlenk, it was all...

Subscribe to our newsletter!

Your Name

Your Email Address