In an unexpected turn of events, the Ministry of Science and Technology has partnered with Binance to host Future Fest 2022, the ministry’s flagship conference and expo that will bring together Pakistan’s top tech startups, investors, innovators, and technology professionals. The expo will be held in Islamabad on March 25, 26, and 27.
Making the announcement via Twitter, the ministry said, “The future is truly here! In an industry-first, historic step towards Web 3.0, we’re super excited to introduce Binance, the world’s largest crypto exchange as an official partner for Future Fest 2022”.
Binance Pakistan’s official community account acknowledged the ministry’s announcement in a follow-up tweet, “Proud to be working with the best industry talent. This event will make an impact on Pakistan’s ecosystem and will raise the benchmark in the tech industry, let’s all continue to listen, learn and solve based on insights.”
While the local crypto community has welcomed the news with open arms, many are perplexed by the development because the State Bank of Pakistan (SBP) has stated unequivocally that cryptocurrencies are illegal and cannot be traded.
Furthermore, the Federal Investigation Agency (FIA) recently approached the Pakistan Telecommunication Authority (PTA) to have cryptocurrency websites explicitly banned and outlawed in the country.
Against the backdrop of such regulatory constraints and uncertainties, Binance’s participation in this year’s Future Fest 2022 is incredible.
As previously stated, the IT Ministry’s Future Fest is a three-day conference and expo that brings together the country’s tech startups, investors, innovators, and technology professionals, as well as public and private sector leaders, to pave the way for Pakistan’s future through the use of technology.
According to the event’s official description, 50 of Pakistan’s top startups will have the opportunity to pitch their ventures in front of the right audience for a chance to win a fully-funded trip to Silicon Valley and other cash prizes.
To read our blog on “Binance announced its cooperation with FIA regarding Rs.18 billion scam robbing Pakistanis,” click here.