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Is Pakistan Entering into the Digital Currency Ecosystem?

Author

Listed:
  • Saddam Hussein

    (Pakistan Institute of Development Economics)

  • Abdul Jalil

    (Pakistan Institute of Development Economics)

Abstract

Digital currency is defined as any currency available exclusively in electronic form. For instance, you could go to an Auto Teller Machine (ATM) or a bank and turn an electronic record of your currency holdings into physical dollars. However, it never takes physical form. It always remains on a computer network and is exchanged via digital means. For example, instead of using physical Rupee notes, you would make purchases by transferring digital currency to retailers using your mobile device. Digital currency is the future because of faster payments, less expensive, smooth international transactions, efficiency, lesser corruption, and maximum financial inclusion.

Suggested Citation

  • Saddam Hussein & Abdul Jalil, 2022. "Is Pakistan Entering into the Digital Currency Ecosystem?," PIDE Knowledge Brief 2022:62, Pakistan Institute of Development Economics.
    • Handle: RePEc:pid:kbrief:2022:62
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    File URL: https://file.pide.org.pk/uploads/kb-062-is-pakistan-entering-into-the-digital-currency-ecosystem.pdf
    File Function: First Version, 2022
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    Cited by:

    1. Saeed Ahmed, 2024. "From Cash to Code: The Transition to Central Bank Digital Currencies in Pakistan," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 180-186, June.

    More about this item

    Keywords

    Pakistan; Digital Currency; Ecosystem;
    All these keywords.

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