Pakistan's current president, Arif Alvi, has reportedly urged more in-depth training on emerging technologies, including blockchain artificial intelligence and cybersecurity.
Specifically, in a meeting with a delegation of blockchain professionals, Alvi reportedly asserted that Pakistan's talent pool needs to be prepared to meet the demands of the fourth industrial revolution, which includes leveraging blockchain in both the public and private sectors.
According to the president of Pakistan, authorities can reportedly use the technology as a tracking measure to reduce corruption and increase transparency.
The panel includes Bitcoin SV advocate Jimmy Nguyen, who is the founding president of the Bitcoin Association.
The meeting reportedly took place before Pakistan's president revealed details of the decision to make Noor Mohammad Dhumal senior finance minister of the country's Balochistan province.
Pakistan's Federal Ministry of Finance and Ministry of Law have reportedly not made any regulatory decisions regarding a possible total ban on cryptocurrencies in the country, but the State Bank of Pakistan has reportedly argued that cryptocurrencies such as Bitcoin (BTC) do not have legal status and are therefore not open for public trading.
A report released by cryptocurrency analytics firm Chainalysis last October reportedly showed that Pakistan ranked third on the list of countries with the highest adoption rates, behind Vietnam and India, having completed more than $10 million in transfers – about 28 percent of the country's transactions.
The country's central bank further revealed in 2021 that it is devoting resources to study the possibility of introducing a digital currency for the Central Bank of Pakistan.