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

Latest News

Japan police search home of nurse in hospital poison deaths

Jul 18, 2018

TOKYO — Japanese authorities on Thursday raided the apartment of a nurse who's in custody on suspicion of fatally poisoning at least two elderly patients at a terminal care hospital. Local media have reported the woman confessed to police she poisoned about 20 patients to have them die when she was off-duty and could avoid the trouble of explaining the deaths to their families. Kanagawa prefectural police said they searched 31-year-old Ayumi Kuboki's apartment in Yokohama, near Tokyo, for more evidence in the case. Kuboki was arrested on Saturday on suspicion of killing two men in 2016 by injecting disinfectant...

Chinese tech giant Tencent plans US listing for music arm

Jul 18, 2018

BEIJING — Tencent, China's most valuable tech company and the operator of the popular WeChat social media platform, says it plans to spin off its streaming music service on a U.S. stock exchange. The company said in a statement issued through the Hong Kong stock exchange that the share price and other details of the stock offering in Tencent Music Entertainment Group have yet to be decided. Tencent Holdings Ltd.'s other businesses include WeChat and online games and video. Most of its activity is concentrated in its faster-growing home market in China but the company is gradually expanding abroad. Tencent...

Japan's Uzabase to acquire online news platform Quartz

Jul 18, 2018

TOKYO — Japanese media startup Uzabase is acquiring Quartz, a New York-based online business news platform, from Atlantic Media. Uzabase's deal with the U.S. media company is valued at $75 million-$110 million, depending on Quartz's financial performance, and expected to close within the next 30 days, both sides said Monday. Under the deal, Quartz will handle the English-language version of NewsPicks, Uzabase's subscription-based business-news platform designed for mobile devices. In an online letter to readers, Quartz said its products will remain the same and continue to be free of charge, but it hopes to expand into the kind of subscription...

Japan's 84-year-old emperor has dizziness, advised to rest

Jul 18, 2018

TOKYO — Japan's 84-year-old Emperor Akihito was advised to rest after feeling nauseous and dizzy early Monday and canceled or postponed his duties. The Imperial Household Agency said Akihito's wife Empress Michiko called the palace doctor early in the morning after finding the emperor sweating profusely. It said his symptoms were caused by insufficient blood flow to the brain and the doctor was continuing to monitor his situation. Akihito announced in December he would abdicate the Chrysanthemum Throne at the end of April 2019, citing health concerns, to be succeeded by his eldest son, Crown Prince Naruhito. Michiko will go...

All aboard Hello Kitty: Pink bullet train debuts in Japan

Jul 18, 2018

TOKYO — A Hello Kitty-themed "shinkansen" bullet train has debuted in Japan. Adorned with the cartoon icon inside and out, it's a dream ride for fans of the internationally popular character. The special shinkansen had its inaugural round trip Saturday between Osaka and Fukuoka, connecting Japan's west and south. It will run through September. The stylish, eight-car train is painted pink and white, showcasing Hello Kitty images and trademark ribbons from flooring to seat covers and windows. In one car, a life-size Hello Kitty doll donning a train crew uniform and a hat — decorated with a pink bow, of...

Sign up now!