How Blockchain Can Solve Real Problems in Pakistan
You must have heard the name Bitcoin. Most people often talk about it, but they think Crypto, Blockchain, and Bitcoin are the exact same thing. This is completely wrong.
Blockchain is like the internet. On top of it, Bitcoin was just one small use case the very first use case.
How can Pakistan benefit from all of this? The thing is, Blockchain is a public ledger data recorded on it cannot be edited or altered.
In our country, we face so many land and property disputes. The world has already shown how using blockchain can completely eliminate property disputes.
Pakistanis send almost $38 Billion in remittances every year, but end up paying around 5% to 7% in transfer fees. The world has demonstrated that by using blockchain, these fees can be reduced to just 1%.
Regarding the issue of fake degrees, degrees can be placed on the blockchain to verify their authenticity and curb degree fraud.
Countries like the Philippines have taken their entire national budget on-chain to combat corruption.
If foreign aid or grants coming into our country become programmable money, funds can be tracked and spent exclusively on designated purposes, and can even be geofenced.
These are all the ways Blockchain God willing can benefit Pakistan.
#crypto #blockchain. #Technology
You must have heard the name Bitcoin. Most people often talk about it, but they think Crypto, Blockchain, and Bitcoin are the exact same thing. This is completely wrong.
Blockchain is like the internet. On top of it, Bitcoin was just one small use case the very first use case.
How can Pakistan benefit from all of this? The thing is, Blockchain is a public ledger data recorded on it cannot be edited or altered.
In our country, we face so many land and property disputes. The world has already shown how using blockchain can completely eliminate property disputes.
Pakistanis send almost $38 Billion in remittances every year, but end up paying around 5% to 7% in transfer fees. The world has demonstrated that by using blockchain, these fees can be reduced to just 1%.
Regarding the issue of fake degrees, degrees can be placed on the blockchain to verify their authenticity and curb degree fraud.
Countries like the Philippines have taken their entire national budget on-chain to combat corruption.
If foreign aid or grants coming into our country become programmable money, funds can be tracked and spent exclusively on designated purposes, and can even be geofenced.
These are all the ways Blockchain God willing can benefit Pakistan.
#crypto #blockchain. #Technology
