Remittances to be received using Blockchain technology in Pakistan
Pakistan was facing a consistent economic threat from the Financial Action Task Force (FATF) as it was enforcing transparency in banking transactions. Terror Financing and Money Laundering are the core International Financial Concerns and FATF maintained Pakistan in the Grey List to force them to take action.
On the directions of FATF, Pakistan has effectively worked out its way using Blockchain Technology to maintain transparency, security, and document each of the remittance transactions. In the first stage, remittances from Malaysia will be made using Blockchain Technology.
This initiative has been achieved by collaboration between Pakistan’s Telenor Microfinance Bank and Malaysia’s Valyou. Central Bank has endorsed this partnership and incentives will be rolled out for using this innovative method of remittances.
FATF is a global institution that overlooks the methods adopted by Countries and Governments for managing their Finances and Economies. They have effectively delivered the message across that only technological innovations can cater to the needs of the Global Economy. Transactions are to be documented and trackable in real-time which is a real possibility with Blockchain Solutions.
Cryptocurrencies are still not functional in the economy of Pakistan. They are left behind to experience the powerful Decentralized Exchanges and Innovative Crypto Assets. Counos hopes that soon policy regulators will pave the way for the integration of the Digital Economy. The neighboring countries like India have allowed cryptocurrency trading and Counos Currencies are owned by most of them making investments in this domain. So, we are hopeful that it will be integrated soon.
Blockchain-based Health Data Storage Launched in UAE
Health Data Storage Platform has been launched by the Authorities of UAE to increase the scope and efficiency of Health Programs and Digital Smart Cards. Health Services will be mainstreamed and all the stakeholders will get involved in this one platform. From the medical supply chain to licensed medical practitioners and patients data, all will be stored in one place.
The Director of Public Health Policy Department was excited over this development and the advantages of the Blockchain Platform were in the spotlight. The data entered in this network is unalterable, decentralized and completely secure due to complex security algorithms.
The great prospect about this platform is the inclusion of AI Functionalities. This will empower the health sector of the United Arab Emirates and they will be able to manage things on a scale. Streamlining medical services with decentralized controls and great accountability will ensure maximum benefit to the general public.
There is a great need for Health Sectors to shift towards Blockchain Networks. Counos, being a Blockchain Platform, knows the secrets what benefits this technology can bring to the operations of any industry. This is really important for industries that are managing the data of masses. Like our Counos Members, everyone will feel powerful if Blockchain Technology is implemented in the key sectors.
“dLab Incubate” Launched to Support Blockchain Startups
If you are a Blockchain Startup and struggling to meet the finances then it is high time to get things right for yourself. dLab Incubate is a remote incubator program launched by dLab that regularly promotes and accelerates the growth of Blockchain Startups. They have a great investment pool to support great ideas related to Blockchain technology.
A total number of 20 projects will be selected after careful scrutiny of CEOs of the Blockchain Startups. These would be the most interactive interviews that will be taking place and quite meaningful ones if you know that something great lies in the future. $25000 assistance can be obtained from this Blockchain Incubator and it would undergo a 12-week interaction period for the completion of the project.
These programs will be regularly monitored and guidance will be provided at each stage for Blockchain Venture to become successful. It is a great initiative and lays the importance that the future belongs to Blockchain Technology. Online Financial Services like offered by the Counos Platform is now taking over the traditional financial institutional services.
Digital Assets are now considered more worthy than traditional financial securities. Also, these are more liquid and can be easily used for Online Transactions. Counos Payment Gateway allows quick and secure transactions without even storing one's payment method information. This is the advantage of Blockchain networks that integration and integrity, both become key aspects of our daily lives
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