Crypto Stories: Pakistani crypto billionaire wants his country to be less reliant on credit

Published at: March 21, 2022

When YouTube was banned in Pakistan, Reality TV-star Waqar Zaka "had no other option" than to turn to Bitlanders — an AI educational social platform, to monetize his content in Bitcoin (BTC). Cointelegraph interviewed Zaka for the latest episode of Crypto Stories to find out how this celebrity came up against the Pakistani government.

Zaka claimed that the capital gains he was earning in Bitcoin were "nothing" in comparison to his YouTube earnings, but that no one believed in the origins of his newfound financial freedom. With goals of making his home country of Pakistan crypto rich, he decided to trade in his media and entertainments work for Bitcoin study materials. 

When the technology averse Pakistani government banned Bitcoin in 2017, Zaka filed a petition against it and won. He took to social media to speak out against the government's unconstitutional acts, offer advisory support and encourage the Pakistani people to invest in crypto. Zaka was then appointed for a short-lived venture to run Pakistan's first crypto mining farm that uses hydropower.

When Bitcoin was still at $5,000, Zaka challenged the government to invest 1% of its budget and put up his property as collateral. He succeeded in getting the government to enact an order that does not criminalize crypto mining or investing unless proven to be invoiced in illegal activities.

Related: Crypto Stories: Spells of Genesis card game resurges in popularity as sales skyrocket

Recently, Pakistan's President Arif Alvi called for more training in blockchain technology, artificial intelligence and cybersecurity during a meeting with blockchain experts.

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