LUMS has anchored investments exceeding Rs670 million to design Pakistan’s first-ever academic programme for blockchain, DLT, and associated platforms.
Alumnus and founder of Stacks, Muneeb Ali confirmed the news on Twitter.
We’ve made a $2.5M worth of cryptocurrency donation to enable a Bitcoin and crypto internet research center in South Asia at LUMS. https://t.co/OJgPrillO4
— Muneeb (@muneeb) February 20, 2021
The varsity will use the five million STX tokens granted by Hiro to develop and build educational programmes. It will enable faculty and students to research blockchain, cryptocurrencies, distributed ledger technology, and more.
Muneeb explained in a tweet that:
(The LUMS news release says $4.1M this is because the the value of the cryptocurrency has already appreciated since the grant.)
— Muneeb (@muneeb) February 20, 2021
In an official statement, the Stacks Pakistan founder added, “This new collaboration on crypto not just strengthens my association with LUMS but can prepare the next generation of engineers and entrepreneurs to architect the next generation of the internet by leveraging the blockchain technology”.
“This will not only enable new business models but is also expected to usher in a new era of novel distributed applications over the blockchain. Stacks Pakistan is laying the foundations for this change and will immensely benefit Pakistan.”
This varsity-alumni collaboration is a landmark achievement for the educational backdrop of Pakistan, particularly LUMS itself.
Besides revamping academic curriculums and educating students in the field of cryptocurrencies; the new development will fuel efforts for advocating crypto regulations in Pakistan at the earliest.