While crypto is causing headaches to government worldwide, on the other hand, the government is benefiting from its backbone blockchain technology. For this reason, the Pakistani Prime Minister Imran Khan held a meeting to discuss the way forward on digitalization of all government process and administration. Governments across the globe are integrating blockchain to get rid of redundancy in service delivery.
The meeting was held in ISLAMABAD on 17th of April and in attendance was a team of Pakistani IT experts who flew in from the United Arab Emirates. The team was invited by Sayed Zulfiqar Abbas Bukhari who is the Special Assistant to Prime Minister Khan. The IT team came in to point the PM and his administration team in the right direction concerning the implementation of blockchain into government administration. The meeting’s discussions concentrated on how the latest IT solutions can be used to improve overall service delivery to correspond with the government’s vision by eliminating red-tapism, ensuring transparency together with efficiency. Besides focusing their discussion on the integration of blockchain into government administration, the team also briefed the PM on how blockchain can help improve trade efficiency with its business partners by developing a blockchain based trade platform.
Benefits of Integration a Blockchain Solution into Government Systems
Per the PM sentiments, the primary goal of integrating blockchain into existing systems is to help get rid of bureaucracy by streamlining service delivery through digitalization. Furthermore, according to him, digitalization will help bring transparency together with efficiency by creating the needed synergies among government organizations. Besides the above, Pakistan will reap from the benefits of blockchain since it comes with numerous advantages that will revolutionize how the government conducts business.
As the plans translate into actions and the Pakistani government integrates blockchain into its systems, this wouldn’t be the first time Pakistanis would be coming into contact with blockchain. Pakistanis are already enjoying the power of blockchain after a blockchain remittance platform developed by Alipay was launched in Pakistan. However, Valyou Malaysian fintech firm and Telenor Microfinance Bank came together to provide the remittance services between Malaysia and Pakistan. On the other hand, the government is set to implement new regulations in a bid to help curb money laundering. Besides regulations, the Pakistani government through the State Bank of Pakistan (SBP) is working to issue its digital currency by 2025.