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Role of Blockchain in Emerging Pakistan 28-29 April 2018

Blockchain has the potential to change the way we arrange, record and verify transactions, with the underlying model shifting away from a centralised structure (exchanges, trading platforms, energy companies) towards decentralised systems (end customers, energy consumers interacting directly). It is no surprise then that, outside of the financial sector, the energy sector is seen as one of the industries where blockchain could have the biggest transformative and disruptive impact.

What is blockchain and why is it Important?

Blockchain technology is the technology behind the popular digital currency known as Bitcoin. It is a safe transaction ledger which is shared by everyone taking part in an established, distributed network of computers. Blockchain keeps a record of all transactions which take place in a network, and these records are decentralized and impossible for cybercriminals to steal. Thus, with blockchain, there is no need for “trusted” third parties because it is already secure and incorruptible. For the data within the blockchain to be accessed, the data must be validated by 51 percent of every computer within that specific network. It is this transparency and incorruptibility of blockchain, along with its technological and commercial value that is making it gain prominence in other areas. It has opened new possibilities in areas such as finance, the public sector, and several other aspects.

 

 

 

What is blockchain and why is it Important?
28 Apr 2018

Blockchain technology is the technology behind the popular digital currency known as Bitcoin. It is a safe transaction ledger which is shared by everyone taking part in an established, distributed network of computers. Blockchain keeps a record of all transactions which take place in a network, and these records are decentralized and impossible for cybercriminals to steal. Thus, with blockchain, there is no need for “trusted” third parties because it is already secure and incorruptible. For the data within the blockchain to be accessed, the data must be validated by 51 percent of every computer within that specific network. It is this transparency and incorruptibility of blockchain, along with its technological and commercial value that is making it gain prominence in other areas. It has opened new possibilities in areas such as finance, the public sector, and several other aspects.

Role of blockchain in Pakistan
28 Apr 2018 10am

The technology behind blockchain means that it can help efficiently solve development problems issues that exist in Pakistan today. Improving existing structures and creates an enabling environment for the development of new ones. Blockchain-based software can handle problems that arise from institutional weaknesses and financial inclusion which is rife in Pakistan. The transparency aspect of blockchain helps in reducing deceit and corruption. As time goes on, blockchain can be employed as a development tool to empower the populace directly and restrict power asymmetries. We will look at specific ways in which blockchain will help several sectors of the Pakistani economy.

28 Apr 2018 12pm
How blockchain will help overcome institutional weakness and establish government presence in Pakistan

The weakness observed in various institutions in Pakistan have multifaceted effects on the populace and the economy. The lack of legal registries and proper documentation robs people of the right to participate in economic and social activities. Also, lack of proper documentation results in corruption within the system as well as the concentration of power among the elites who have more access to stolen funds. As a result, the level of social trust is very low, making economic exchange complicated and limiting development progress. To prevent these issues, there are blockchain applications that be put in place: a registry for properties, basic legal digital documents as well as a system for monitoring amount of money being spent by the government and its institutions.

Pakistan's Banking Sector and Blockchain
28 Apr 2018 2pm

Pakistani people suffer financial exclusion because certain members of the populace lack access to basic services like bank accounts, insurance and loans and as a result cannot partake in several economic activities. The major reason for financial exclusion is lack of adequate documentation and inefficient credit system. Blockchain makes it easier for financial institutions to monitor client’s financial positions and evaluates the risk of giving loans to person(s). Also, it provides an efficient monitoring system that ensures that individuals and businesses repay their loans, which is presently difficult. Apart from this, it enables the financial institutions to be able to protect customer’s privacy better and protects against data theft and stealing of customer funds.

How blockchain can be used in education in Pakistan
29 Apr 2018 9am

There have been cases of fake certification in Pakistani higher education institutions. Blockchain can assist educational institutions to eliminate such issues by storing and issues certificates. This is done using encryption and 2-factor authentication which will create and place the certificate in the blockchain database. While the university will give out certificates in the form of papers, the blockchain technology helps to generate a number that will be saved by the school. Furthermore, Pakistani schools like most others around the globe still use a paper system which is susceptible to lose and fraud. However, we are having an increasingly mobile population of students and a centralized database where credentials are stored it necessary and blockchain will allow this to happen. By so doing, when a student graduates to a higher level or if they are moving to another school in a different country, they do not need to carry transcripts around because their record is already stored on a single system.

How blockchain will help young people in Pakistan
29 Apr 2018 11am

Blockchain technology presents an excellent avenue for young persons in Pakistan to explore its wide-ranging opportunities to develop themselves and excel at the same time. For example, software developers can use blockchain technology to create solutions for the government in various areas that will not only improve the economy of Pakistan but will also project the image of the country in a positive light. Blockchain also has several other dimensions such as cryptocurrency trading that has turned lots of people into millionaires. Therefore, this is an opportunity for young people that are looking for investments.

Dr. Wajid Khan PhD  
Crypto-currency Workshops
29 Apr 2018 1pm

Learn how public and private blockchains work and cryptocurrencies, examine real case studies of its application and benefits to real working business and examples of the technical hurdles in implementation

Co-Founder GBC
Dr. Wajid Khan PhD

Dr. Wajid Khan PhD

Co-Founder GBC

Event Detail

April 28, 2018 10:00 am
April 29, 2018 6:00 pm