Lahore University of Management Sciences (LUMS) has anchored investments exceeding Rs. 670 million in crypto tokens to design Pakistan’s first-ever academic program for blockchain, DLT (distributed ledger technology), and associated platforms, according to the varsity’s official news release.
Alumnus Muneeb Ali confirmed the news via Twitter.
We’ve made a $2.5M worth of cryptocurrency donation to enable a Bitcoin and crypto internet research center in South Asia at LUMS. https://t.co/OJgPrillO4
— Muneeb (@muneeb) February 20, 2021
LUMS will use the five million STX tokens (currently equivalent to about Rs. 670 million or $4.1 million) granted by Hiro, formerly known as Blockstack PBC, to develop courses for enabling faculty and students to research blockchain, cryptocurrencies, distributed ledger technology, and more.
It intends to focus on emerging markets and other areas where these technologies can be applied to their fullest.
In a statement, the LUMS alumnus and Stacks Cofounder added,
LUMS has always been a hub of cutting-edge research and innovations and I am proud to have a long association with the Syed Babar Ali School of Science and Engineering. Crypto networks are likely the biggest tech revolution since the internet itself. This new collaboration on crypto not just strengthens my association with LUMS but can prepare the next generation of engineers and entrepreneurs to architect the next generation of the internet by leveraging the blockchain technology.
Muneeb further suggested, “This will not only enable new business models but is also expected to usher in a new era of novel distributed applications over the blockchain. Stacks Pakistan is laying the foundations for this change and will immensely benefit Pakistan.”
This varsity-alumni collaboration is a landmark achievement for the educational backdrop of Pakistan, particularly LUMS itself.
Besides revamping academic curriculums and educating students in the field of cryptocurrencies, the new development will fuel efforts for advocating crypto regulations in Pakistan at the earliest.