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CCFCN: Cryptocurrency News: Spotlight on One of Pakistan's Leading Citizens, Waqar Zaka
I subscribe to a newsletter that shares saily happenings in the cryptocurrency world. This article caught my eye. It was very encouraging to read because even though a country may have banned cryptocurrency that does not spell “The END”. Waqar Zaka proved that even a government ban can not prevent progress.
According to Chainalysis 2021 Global Crypto Adoption Index, Pakistan is ranked third in terms of crypto adoption.
Pakistan is moving towards the cryptocurrency adoption bandwagon. Waqar Zaka, Pakistani television host, used his influence to get relief for his beloved country. He publicly promoted Bitcoins via a social media platform known as Bit Landers. One remarkable thing that he did was save refugees from Burmese and Syrian war zones by helping them earn income via cryptocurrency.
When he became one of the first Pakistanis to speak at Blockchain Economic Forum in 2018, it put him and his country on the map, and he was praised for his efforts in using crypto-mining to help refugees. Even though he urged the Government of Pakistan to embrace Bitcoin, the ban on cryptocurrency continued to be remain in effect. He the took his fight to the courtrooms. He challenged decision of the judges regarding the ban. By December 2020, the Court passed an order prohibiting authorities from arresting people who owned Bitcoin or bitcoin mining devices, unless, of course, they were doing something illegal. Because of his efforts, people in his country were encouraged to invest in cryptocurrency and Bitcoin experts all around the world began to recognize Pakistan as a place where crypto was booming.
“Thanks to Waqar Zaka's unwavering efforts, Pakistani traders are now listed on large cryptocurrency exchanges, many of them based outside Pakistan. Localbitcoins.com, for instance, has thousands of transactions from Pakistani traders.”
“New generations of investors are indeed embracing cryptocurrency as a means of financial independence.”