LAHORE: Policymakers and industry experts at a session on blockchain and digital assets warned that Pakistan must move quickly to avoid missing out on the digital economy.
The session, titled ‘Leadership Summit on Blockchain & Digital Assets -- Technology and Policy’, was held at LUMS by the Centre for Digital Asset Research (CeDAR). It featured Bilal Bin Saqib, chairperson of the Pakistan Virtual Assets Regulatory Authority (PVARA), in conversation with Dr Basit Shafiq, associate professor at SBASSE and director of CeDAR.
Saqib said “the risk of inaction is far greater than the risk of action”, urging policymakers to adopt blockchain and digital asset technologies more decisively. Countries that hesitate, he said, risk falling behind as global financial systems evolve.
He noted that Pakistan already has nearly 40 million digital asset users operating largely outside formal systems, describing this as both a challenge and an opportunity. Bringing such activity into a regulated framework would help protect consumers and unlock economic potential, he added.
Saqib said technological change is reshaping global competitiveness, arguing that future economic strength will depend increasingly on technological capability rather than traditional resources.
He added that Pakistan’s move to establish a regulatory authority for digital assets places it among countries actively shaping policy, giving it a stronger voice in global financial and technological discussions.
The discussion also highlighted the need to modernise financial systems. Saqib said Pakistan’s remittance infrastructure remains outdated and could benefit from blockchain-based solutions such as stablecoins, which can enable faster and more efficient transactions.
He also pointed to the potential of asset tokenisation to broaden access to investment, allowing individuals to invest in real estate and other assets with smaller amounts of capital, thereby supporting financial inclusion.
Addressing concerns over rapid policy development, Saqib said regulatory sandboxes allow for controlled experimentation, enabling innovation while managing risks. Delaying progress, he warned, would be more damaging than moving forward cautiously.
He also underscored the importance of Pakistan’s young population, noting that a large share of digital asset users are under 40. With appropriate policies, he said, this demographic could help drive the development of globally competitive technology ventures.
However, he identified a shortage of skilled professionals in blockchain and related fields as a key constraint, calling for greater investment in education and capacity-building.
In his concluding remarks, Saqib urged closer collaboration between regulators, financial institutions and academia, saying Pakistan’s ability to capitalise on the opportunity would depend on coordinated action and continuous learning.
