LUMS is set to launch Pakistan’s first academic cryptocurrency program

LUMS is set to launch Pakistan’s first academic cryptocurrency program

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One of the most prestigious higher education institutes in Pakistan. LUMS (Lahore university of management and sciences) is all set to become the pioneer in cryptocurrency education in Pakistan.

As per the official news release of Varsity:

The institute has anchored an investment of Rs 609 million in crypto tokens to design Pakistan’s first blockchain, digital ledger technology and other, related platform course.

LUMS alumni also confirmed the news by tweeting about it. In his tweet, he said:

“We’ve made a $2.5M worth of cryptocurrency donation to enable a Bitcoin and crypto internet research center in South Asia at LUMS.”

LUMS will use five million STX tokens (currently around 670 million rupees or $ 4.1 million) from Hiro, formerly known as Blockstack PBC. Certainly, to develop courses that allow teachers and students to use blockchain, cryptocurrency, and distributed technology to explore books. and others.

However, the main purpose to focus on emerging markets and other areas where this technology can be fully applied.

LUMS alumni and co-founder of Stack

In a statement, the LUMS alumni and co-founder of Stacks added:

“LUMS has always been a hub of cutting-edge research and innovations and I am proud to have a long association with the Syed Babar Ali School of Science and Engineering. Crypto networks are likely the biggest tech revolution since the internet itself. This new collaboration on crypto not just strengthens my association with LUMS but can prepare the next generation of engineers and entrepreneurs to architect the next generation of the internet by leveraging the blockchain technology”

 

Muneeb further suggested, “This will not only enable new business models but also usher in a new era of new distributed applications across the blockchain. Stacks Pakistan is laying the groundwork for this change and will bring tremendous benefits to Pakistan.” 

This graduate collaboration is a major achievement for the educational environment in Pakistan, especially for LUMS itself.

As well as reshaping academic curricula and training students in cryptocurrency, these new developments will stimulate efforts to overlap with cryptographic regulations in Pakistan as early as possible.

What is cryptocurrency?

A cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their currencies, often called tokens. These tokens can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.

Cryptocurrencies work using a technology called the blockchain. Blockchain is a decentralized technology spread across many computers that manage and record transactions. Part of the appeal of this technology is its security.

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