Pakistan Appoints Binance Founder CZ to Boost Blockchain and Web3 Push

- Appointing Binance founder CZ as the strategic advisor for the Pakistan Crypto Association - Accelerating the adoption of blockchain technology and building a digital financial ecosystem [Unblock Media] The Pakistani government has officially appointed Changpeng Zhao (CZ), the founder of the world's largest cryptocurrency exchange, Binance, as the strategic advisor for the Pakistan Crypto Association. This move is interpreted as a national effort to accelerate the adoption of blockchain and Web3 technologies and build a digital financial ecosystem. CZ expressed his honor in contributing to Pakistan's adoption of cryptocurrency and expressed his willingness to actively cooperate in establishing regulatory frameworks, building blockchain infrastructure, and nurturing talent. This decision is linked to the economic issues Pakistan is facing. The public debt-to-GDP ratio is about 80%, with approximately 60% of government revenue being spent on debt interest repayment. The digitalization of the traditional financial system has been slow, and low financial accessibility has continued to create funding difficulties for marginalized populations and small and medium-sized enterprises. Blockchain technology and Web3 are being seen as alternatives to overcome these limitations. Decentralized transaction and data management technologies provide transparency and security and form the basis for expanding financial inclusion. Web3, in particular, signifies a technological turning point that returns content ownership and data control to individuals with its user-centric internet structure. With CZ's involvement, Pakistan hopes to strengthen its digital financial capabilities through regulatory framework improvements, attracting global investments, and operating educational programs. There is an expectation to build new jobs and an industrial ecosystem centered around the youth. This appointment is regarded as a signal that Pakistan is moving beyond mere technology acceptance to a full-fledged transition to a digital economy. Future changes in government policies and specific ecosystem transformations will be closely watched.