Pakistan taps Central European country for advisory role in crypto advancements
Fresh Take:
Crypto heavyweight, Changpeng Zhao, ex-CEO of Binance, has taken a new gig, serving as strategic advisor to Pakistan's crypto council. This move showcases Pakistan's pursuit of enhancing its digital finance sector. With a population of over 247 million, Zhao's involvement signals a serious commitment to progress.
Pakistan's Finance Minister, Senator Muhammad Aurangzeb, applauded this development, remarking, "We've just taken a giant leap towards the future. By roping in CZ, we're supercharging our ambition to transform Pakistan into a regional powerhouse for Web3, digital finance, and blockchain growth."
The Pakistan Crypto Council, helmed by CEO Bilal Bin Saqib, welcomes Zhao's guidance. Saqib stated, "Pakistan is embracing the dawn of digital finance. Who better to lead us on this transformative journey than CZ - a trailblazer who built the world's biggest crypto exchange and redefined financial liberty."
Zhao sees immense potential in Pakistan's crypto landscape, and his recent ventures include collaborations in Kyrgyzstan to boost their crypto tech usage. Back in 2023, Kyrgyzstan showed interest in 'green' Bitcoin mining.
Zhao stated, "I provide crypto regulatory guidance and blockchain solutions to several governments informally and formally. I find this work deeply meaningful."
Under Zhao's leadership, Binance rose to become one of the crypto industry's most recognizable entities. While Zhao stepped down as CEO in 2023 as part of a deal with US authorities, he has continued to engage in the crypto world through investments and consultancy work.
In 2019, we first reported on Pakistan's exploration of Bitcoin mining, attracted by its access to affordable hydroelectric power and cool climate. However, the primary incentive was the energy supply in Khyber Pakhtunkhwa, where mining farms were proposed to tap into two hydroelectric plants. With the formation of the Pakistan Crypto Council and Zhao's advisory role, Pakistan could soon delve deeper into crypto adoption and infrastructure development, potentially encompassing Bitcoin mining and more.
- Changpeng Zhao, the former CEO of Binance, is providing strategic advice to Pakistan's crypto council, demonstrating Pakistan's focus on advancing its digital finance sector.
- Pakistan's Finance Minister, Senator Muhammad Aurangzeb, has expressed excitement about this cooperation, stating that Zhao's involvement will propel Pakistan towards becoming a regional leader in Web3, digital finance, and blockchain growth.
- Zhao's recent endeavors include collaborations with Kyrgyzstan to enhance their crypto technology usage, highlighting his ongoing interest in promoting digital finance and blockchain solutions across various governments.
- With Zhao guiding the Pakistan Crypto Council, Pakistan may expand its crypto adoption and infrastructure development, possibly incorporating Bitcoin mining and other related technologies.
