Bilal Bin Sakib said that the authorities have already negotiated with some companies engaged in extraction of digital assets. He added that the location of the future mining center will be determined depending on the excess electricity in specific regions.
“Pakistan’s energy market is faced with a number of problems, in particular high tariffs for electricity and excessive generating capacities. The rapid growth of solar energy has even more complicated the situation, since more and more consumers switch to alternative energy sources to reduce costs, ”complained Bin Sakib.
The PCC Executive Director said that Pakistan is part of the ten countries with the highest level of cryptocurrency penetration, despite the fact that the market has not yet been regulated. According to Bin Sakib, due to the advanced training of youth in the field of blockchain and artificial intelligence and an increase in the export of virtual services, Pakistan will become the global center of the latest technological talents.
Earlier, the government of Pakistan announced On the creation of a special council on cryptocurrencies with authority to promote innovation and create legislation on the regulation of digital assets.
Source: Bits
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