Pakistani Banks Step into Blockchain

In line with the joint statements made by Pakistani banks, they reported that they have started new moves to prevent money laundering (AML). In particular, banks that take blockchain technology on their radar stated that they aim to benefit from blockchain in terms of security. On March 2, the Pakistan Banks Association (PBA) signed the contract for Pakistan’s first blockchain-based eKYC platform.

The increasing prevalence of blockchain technology has attracted the attention of institutions, especially in recent times. Blockchain technology, which stands out with its services for security, has started to become active in many sectors today. This step taken by the Pakistan Banks Association in terms of security has attracted the attention of crypto investors.

Pakistan has entered the radar of other countries with this step taken in blockchain technology. The increasing activity towards blockchain continues to provide convenience to various industries. An important part of the work of the sectors on blockchain technology is the “services it offers on security”.