As of 2017 is called the year of cryptocurrencies especially bitcoin that’s leading by highest market capital (around 200 billion USD at the time of writing).
What is bitcoin?
Bitcoin is a new form of money that is completely decentralized and uncontrollable by any governments. It is backed by nothing but its own users that is called “the network” of miners. The correct way to use it to download the core bitcoin software and setup your own node. In that way, you not only strengthen the network you also secure yourself. Of course, there are some more easy ways to use it – by simply downloading a bitcoin wallet and start using bitcoin.
Bitcoin is invented by an unknown person or group of people under fake name called “Satoshi Nakamoto” by launching a whitepapper in January 9th, 2009 and claimed that we’ve built a new form of currency that is completely decentralized, censorship resident and deflational; The overall amount of BTC ever produced is limited.
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Blockchain is the underlying technology or recipe that bitcoin uses. And bitcoin is the first re
al-world application built on top of blockchain technology. Ethereum is the second and it’s different from bitcoin.
Is Bitcoin Legal In Pakistan?
Government of Pakistan has no issue with it. But FBR (Federal Board of Revenue) is investigating the traders for taxation.
The Bitcoin Association of Pakistan
Bitcoin community is increasing very fast in Pakistan, in 2017 as the knowledge about cryptocurrencies increasing more and more people are being interested in digital currencies.
The local bitcoin community “Bitcoin Association of Pakistan” is just a network of people interested in learning & sharing the knowledge about cryptocurrencies and blockchain technology.
“The community believes this new disruptive technology is changing the world for good and Pakistan should play its part or be destroyed by it otherwise” said Farooq Ahmed.
Blockchain Technology Startups in Pakistan
A lot of work being done related to blockchain technology in Pakistan, new companies are being formed by blockchain evangelists and different startups with disruptive ideas.
All is happening very fast, time is short for crypto boom as you have seen the price jump of bitcoin from $700 to over $15,000 in 2017. And 80% increase just happened in Q4 2017.
2018 is expected to bring more hurry in crypto world and the market is expected to be full by 2021. There are more opportunities that you can’t even think of regarding what blockchain technology and cryptocurrencies are going to change the world.
Here are few companies and startups working from Pakistan…
Blockchain Companies in Pakistan
Blockchain Startups in Pakistan
- Certify.pk – Academic verification over blockchain
Bitcoin Exchanges in Pakistan
- Urdubit – Bitcoin trading platform in Pakistan