KARACHI: Interesting comments from social media users poured on Waqar Zaka’s claim to pay off Pakistan’s debt with corrupt currency.
On a social media website, Twitter Pakistan’s first crypto entrepreneur and tech activist Waqar Zaka said, “Investing in Bitcoin can pay off Pakistan’s debt.”
He further said, “I can repay Pakistan’s debt through cryptocurrency, but the condition is that Imran Khan leaves his post and let me run the country. If that doesn’t happen, then Imran Khan, who hates corruption, should tell Pakistanis what the solution is: olive cultivation or tourism. I challenge all politicians if there is an idea (tell me)?’” he added.
Waqar Zaka’s claim has sparked a new debate on social media, with PTI supporters and opponents in the forefront.
Students: Waqar zaka will be our Next prime Minister.
Le Me:#waqarzaka pic.twitter.com/4Sk4icKlRV— ZaiD- ???????? (@Mr_Zaid123) May 5, 2021
Waqar Zaka is planning to build Pakistan’s first cryptocurrency mining farm using hydropower to capitalize on a bullish global crypto market.
In a recent video uploaded on his Facebook, Waqar Zaka gave his fans an exclusive tour of his hydroelectric-powered pilot mining farms. “After years of struggle, I am launching the biggest crypto mining farm in KPK where you all can invest and earn,” he said.
The social media influencer also thanked Ziaullah Bangash, adviser to the provincial government on science and technology for his legal backing. Crypto mining farms involve large investments in computer data centers that require vast amounts of power.
Pakistan has formed a federal committee to formulate a new crypto policy, even as neighboring India is planning to ban cryptocurrencies entirely. The cost of the mining project has yet to be determined.
Both mining and trading in cryptocurrencies currently exist in a legal grey area in Pakistan, though, and federal authorities would have to provide a clear path towards legalising the sector before it could be formally opened to investors.
