How is Blockchain Restriction on Pakistan can be Harmful for us Financially

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If the headline with 'blockchain' init is the reason I have your attention as you think that this piece will provide you with the methods of investing cryptocurrencies then you should know that this is about the blockchain technologies and not just the currencies themselves. 

A blockchain is a digital ledger that is to be copied and distributed onto various networks of systems.

A majority of laymen get confused with blockchain and cryptocurrencies and are most likely to mix them up and it is completely normal. There is a pretty good reason for that, as crypto was the first and most frequently used use case of blockchain. Although, it is the medium for all virtual applications exchange within the network.

Web 3.0

The technology has further evolved itself than just remaining currencies and coins that were launched simultaneously after the popularity of Bitcoin. Web 3.0 is the internet that comprises blockchain and encompasses much more. If we give web 3 a dramatic flair, then we can say that it is like the Bane from the Dark Knight Rises as it takes control from the governments and tech giants and gives them to the people.

Web 3.0 is a ray of hope for Pakistan as it gives us chance to expand in the technological world. Though it can take many forms such as blockchain investment, trading cryptocurrencies and also providing its services remotely to the new web 3.0 based startups globally.

In 2021, Pakistan has already ranked 3rd in the Global Crypto adoption Index having a trading value of 711 percent to around $20 billion. But the government misinterpreted it as it was the value held by the citizens that rounded on the broadcast and social media.


Irrespective of what the government says, by watching these indexes, we can say that Pakistan is in the game. you can even see boys talking about crypto and discussing investment by getting signals from different channels.

This is menacing the authorities that put a ban on crypto as according to their school of thought sit can become the basis of money laundering and also funding for terrorists. These concerns have put a strain on the position of Pakistan and FATF (Financial Action Task Force) has grey-listed Pakistan.

A Bright Light for Pakistan

A workpaper by a think tank in the United States Atlantic Council and Paklaunch presents a $109 billion chance for Pakistan in the next 20 years. 


This report shows that with a starting base of a minimum of 100 developers - growing at 50pc annually - earning $36,000 per year, rising 10pc YoY for the first five years and 5pc thereafter, the cumulative income would be over $109 billion. 

But before we start to form a regulatory framework, it would be good to know that who will be the regulator?

In its recommendations to the Sindh High Court, the Exchange Commission of Pakistan said digital assets were beyond its mandate. It is not the job of Pakistan's State Bank, there is absolutely no scope for crypto to be used as an exchange medium. So, who will shoulder this burden?

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