How common Pakistanis are to miss out on opportunities due to blockchain misconceptions

Asif Hameed | NFTStudio24 @nftstudio24

Common Pakistanis are still stuck in the cave of misconceptions about the blockchain industry whilst the world outside incorporates blockchain technology in their daily lives.

The CEO of NFTStudio24, Asif Hameed is on a mission to start blockchain learning sessions across Pakistan to help educate common people about the industry.

If you clicked on this article thinking it is about cryptocurrency, then you are one of the majority of common people in Pakistan who don’t know the exact difference between blockchain and cryptocurrency.

Pakistan has a 60 percent literacy rate. Although this is very low, among this percentage of people, only a few are aware of the blockchain industry. The rest is stuck in the cave of misconceptions, deteriorating Pakistan’s status in the blockchain industry.

Compared to Pakistan, its neighboring countries have made noteworthy achievements in the blockchain industry. The country is falling behind other countries in terms of economic growth and system.

Like many common Pakistanis, if you are also not aware of the blockchain industry, now is the time to know the science behind it.

First and foremost, let’s clear out two of the most shared misconceptions of blockchain held by Pakistanis:

  • Blockchain is not only crypto: Many Pakistanis believe cryptocurrency and blockchain are similar concepts; they are completely different. Blockchain is a system, crypto is a digital currency that operates through the blockchain.

  • It is not some overnight wealth money-making system: Yes, you can make money but not on the blockchain, and definitely not overnight. Many people believe blockchain is some money-making gambling site where a person can become rich overnight, which is entirely wrong.


 

Now that we have cleared out the misconceptions, it is time for you to know what really is blockchain and why is it gaining so much attention:

 

What is Blockchain?

Blockchain is like a public ledger of transactions that feeds information and duplicates to distribute in a network of computers. Data is stored in blocks, as each block fills up, it creates a chain every time a transaction takes place, thus, it’s called a blockchain.

 

Pakistan and the crypto community

In the mainstream media, no blockchain presence or discussion is preventing many locals from being knowledgeable about this technology. The only Pakistani influential figure who has been raising awareness about cryptocurrency is Waqar Zaka, a TV host and activist.

 

Due to the rareness of crypto traders, only those communities benefit from the crypto investments in Pakistan, while others remain in the dark about it.

 

Last year, the Khyber Pakhtunkhwa government announced its plans to launch two Crypto mining farms. But that plan fell short following the announcement of a crypto ban in the country.

 

Many economists believe this decision will prevent Pakistani traders and young talent from breaking into the global market.

 

How can Pakistan benefit from Blockchain?

There is so much potential in the Pakistani market, and adopting blockchain technology will prove fruitful to showcase that potential.

 

When people are aware of blockchain’s potential, they will find job and business opportunities within the blockchain, which in return can boost the country’s economy.

 

Here is the video link in Urdu.

https://youtu.be/i8bHKBzas9E

 

About Author

Asif Hameed is an overseas Pakistani who has been living in Tokyo, Japan, for 25 years. He marked his recognition in the Japanese market as a prominent businessman and start-up investor and continues to grow his business in IT-related investments, Independent Writer and Blockchain projects worldwide. Knowing the essence of Blockchain and Crypto in today's technological era, he started NFTStudio24.com, One solution news platform for Blockchain and NFT world.

His Ideology

"In my own life philosophy, I think that your goal in life is to make good things happen for the people in your world, those you love, those in your neighborhood, and those throughout the world,” then you are on the right track. It is my mission to assist you in transforming your ideas into successful realities.

Japan-based Pakistani block chain company NFTStudio24 is on a mission to educate Pakistanis about Cryptocurrency, NFTs, and Blockchain technology through its platform.

 

For more information, visit the website: https://nftstudio24.com/.

 

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