Pakistan Crypto Council (PCC) Plans Blockchain Use for Remittances, Real Estate, and Farming

Pakistan Crypto Council (PCC) Plans Licensing System to Increase Revenue

Bilal Bin Saqib, CEO of the Pakistan Crypto Council (PCC) and Chief Advisor to the Finance Minister, has highlighted the transformative potential of blockchain technology across Pakistan’s economy, particularly in overseas remittances, real estate, and agriculture. Speaking on Geo News’ Geo Pakistan, Saqib emphasized that Pakistan is already a leader in crypto adoption, with an estimated 20 million users, positioning the country to harness blockchain for economic growth and transparency.

Blockchain’s Role in Pakistan’s Key Sectors Pakistan Crypto Council (PCC)

1. Remittances: A $30 Billion Opportunity

Pakistan receives over $30 billion annually in remittances, making it one of the largest remittance markets globally. However, traditional banking channels often involve high fees, delays, and inefficiencies. Saqib argued that blockchain-based solutions could:

Reduce transaction costs by eliminating intermediaries.
Speed up cross-border transfers through decentralized networks.
Enhance transparency with immutable transaction records.

By adopting blockchain for remittances, Pakistan could retain more foreign exchange earnings and provide faster, cheaper services to overseas workers and their families.

2. Real Estate: Fighting Fraud & Improving Transparency

Pakistan’s real estate sector is plagued by fraud, disputed ownership, and a lack of digitized records. Blockchain could revolutionize the industry by:

Digitizing land registries to prevent tampering and forgery.
Enabling smart contracts for automated, trustless property transactions.
Reducing corruption by making ownership records publicly verifiable.

Saqib noted that countries like Georgia and Sweden have already implemented blockchain-based land registries, drastically reducing fraud. Pakistan could follow suit to boost investor confidence and streamline property dealings.

3. Agriculture: Securing Supply Chains & Farmer Payments

Agriculture remains a backbone of Pakistan’s economy, but inefficiencies persist in supply chains, subsidies distribution, and farmer payments. Blockchain applications could:

Track crop production and logistics to reduce waste and fraud.
Ensure fair payments to farmers via transparent smart contracts.
Verify organic and export-quality produce through tamper-proof certifications.

Saqib suggested that blockchain could help modernize Pakistan’s agriculture sector, making it more competitive globally.

PCC’s Regulatory Roadmap: Licensing & Revenue Generation

As the government’s advisory body on crypto and blockchain, the PCC is working on:

A licensing framework for crypto businesses to ensure compliance and consumer protection.
Revenue models, such as taxation and transaction fees, to benefit the national exchequer.
Global best practices, studying regulatory approaches from the UAE, Singapore, and the EU.

Saqib acknowledged concerns about crypto misuse but cited data showing that only 0.24% of crypto transactions are illicit—far lower than traditional financial systems. He stressed that regulation, not prohibition, is the solution.

Pakistan’s Risk of Falling Behind in Blockchain & AI

Saqib issued a stark warning: Pakistan is lagging in blockchain and AI adoption. He pointed out that:

India launched its national blockchain strategy in 2019 and has since rolled out AI initiatives.
The UAE and Singapore have established themselves as global crypto hubs.
Without urgent action, Pakistan could miss out on the next wave of digital economic growth.

Next Steps: Legalization & Implementation

While Saqib did not provide a timeline for crypto legalization, he confirmed that the PCC is:

Analyzing global regulations to tailor policies for Pakistan.
Engaging with stakeholders, including banks, tech firms, and international partners.
Pushing for pilot projects in remittances and land records to demonstrate blockchain’s benefits.

Conclusion: A Call for Proactive Policy

Saqib’s remarks underscore the need for Pakistan to embrace blockchain strategically—not just for innovation, but to solve real economic challenges. With proper regulation, blockchain could unlock billions in efficiency gains, curb corruption, and position Pakistan as a digital economy leader.

The question remains: Will policymakers act fast enough to capitalize on this opportunity.