Pakistan’s First Blockchain Remittance Service Announced

Pakistan’s first blockchain technology is launched in the country. A cross border remittance service launched is based on Blockchain technology. This Pakistan’s First Blockchain remittance service was launched yesterday at an event in Islamabad.

This blockchain technology in Pakistan is introduced by Telenor Microfinance Bank. This cross border remittance service offers Easypaisa in partnership with Valyou of Malaysia. Valyou Malaysia is a financial technology company that provides remittances to underbanked communities.

Pakistan’s First blockchain remittance service launched between Pakistan and Malaysia

This Pakistani blockchain technology is developed by Alipay, an online payment platform. This remittance service will allow Pakistani residents residing in Malaysia to send money home. Telenor remittance service provider, Valyou is an instant and secure platform.

Blockchain Technology is a rapidly developing technology that is surpassing the digital market trends with its rave. Experts have diverse views and understanding of this technology but what exactly it is and how it works? To understand the fundamentals, it is important to start with the basics. Let’s dig down and see what this technology has to offer.

WHAT IS BLOCKCHAIN TECHNOLOGY?

To grasp an instant understanding of the concept, imagine having a spreadsheet that gets duplicated over a thousand times on numerous computers at a time.  Furthermore, imagine this network as particularly designed to update this spreadsheet on a regular basis. Here you have a basic understanding of Blockchain Technology.  It is also referred to as a “Digital Ledger”.

Blockchain Technology is surely going to hit the market like a cyclone in the near future as it’s already loosening its ropes to the tied. There are many users, developers and enthusiasts who believe that Blockchain Technology is the new future, disagreeing with the other half of experts, who think that Blockchain Technology has many security flaws that may allow serious security breaches in the future. Let’s see what this technology holds for the future and if it is really going to stay or flush away like many other emerging technologies. Many companies are working on blockchain technology devices. Here is the World’s First Blockchain Smartphone is Here and It’s Marvelous.