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Full filling the quantum computing gap

 

In contrast to classical computers, which deal with 0 and 1 bits, quantum computers use ‘‘qubits‘‘ to represent 0 and 1 simultaneously, which dramatically speeds up computations.

This is encouraging news when it comes to problems that are theoretically solvable but computationally intensive beyond the capabilities of even modern classical computers and supercomputers.

In contrast to classical computers, which deal with 0 and 1 bits, quantum computers use ``qubits'' to represent 0 and 1 simultaneously, which dramatically speeds up computations.

This is encouraging news for problems that are theoretically solvable but computationally intensive beyond the capabilities of even modern classical computers and supercomputers.

The downside is that the increased processing power of quantum computers will allow criminals to bypass traditional cryptographic protocols that protect sensitive data, making the technology a significant cybersecurity threat.

BISP 8171 SMS New Update July 2023

 

BISP SMS Registration Benazir Income Support Programme (BISP) SMS Registration: This social welfare programme was created to aid Pakistan’s underprivileged citizens.

This is regarded as Pakistan’s largest social welfare programme at present. Its objective is to provide financial assistance to the needy and deserving citizens of Pakistan, something it has been doing for a while and is now working to improve.

People who are poor and deserving of it can sign up while relaxing at home. But in order to do that, you must first determine whether you qualify for this programme or not. After all, this programme is intended for needy and deserving individuals, and they are welcome to apply.

In order to determine your eligibility, the Benazir Income Support Programme has introduced an SMS service named 8171. which makes it simple for you to check your eligibility at home.

BISP SMS Registration

Additionally, SMS can be used to register for the Ehsaas programme or the Benazir Income Support Programme. You can send the Benazir Income Support Programme office all of your details via SMS. There will be a confirmation mail as well. BISP Monthly Payment

The following steps must be taken in order to send the message:

First, send a message on your phone requesting your ID card number.

Send this message to 8171 after that.

You will receive a confirmation message with all the data shortly after sending the message.

SMS Registration for BISP

By sending your ID card number to the number 8171, you can find out if you qualify. You can get in touch with your local Benazir Income Support Programme once you hear back from messaging that you have been registered for this programme. Visit the tehsil office to obtain more details as well as your monthly payment.

Read this as well: 2023 Ehsaas Programme Registration Centre Check

If you receive a response stating that you are ineligible for this programme, don’t worry; you can visit the Benazir Income Support Programme office nearest you and complete the NSER survey there. You will be registered for this programme after you have finished.

Bisp 8171 Sms Survey eligibility Check

You must first finish the NSER survey to register using the new Benazir Income Support Programme procedure. You can finish your head at the closest Benazir Income Support Programme tehsil office. Depending on the information you supplied, you are either qualified or rejected after finishing the survey.

You can use your mobile phone to verify your survey results if you finished it at Benazir Income Support and are at home. First, type the number on your ID card into your mobile device and send it to 8171. You’ll get a confirmation message as soon as it’s sent.

Pakistan to launch first central bank digital currency pilot within two months

Currently, Nigeria, Jamaica, and Bahamas have launched their CBDCs while China, India, Saudi Arabia, France, and Ghana are running pilots

Cybersecurity experts say rollout of sandbox to test and standardize digital currency would be 'landmark step' by Pakistan’s central bank

    

KARACHI: Pakistan’s central bank is all set to launch the pilot of the country’s first digital currency within two months following the completion of the required groundwork, the deputy governor of the State Bank of Pakistan (SBP) said this week.

Increasingly seen as a potential replacement for physical cash, central bank digital currencies (CBDCs) are digital versions of cash that are issued and regulated by state-owned banks. In 2018, Pakistan’s central bank declared virtual currencies (VCs), including Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, and Pay Diamond, as illegal and prohibited their use in trading.   

CBDCs are more secure compared to cryptocurrencies and are designed to complement existing physical cash and traditional forms of electronic money. The currencies are built on blockchain technology (DLT) and are intended to provide a secure and efficient means of conducting digital transactions. 

“The groundwork (of the digital currency) has been completed and [the SBP] will run a pilot that is called sandbox so that we could carefully examine it,” Sima Kamil, Deputy Governor of SBP, told Arab News early this week.

“The sandbox will be launched in a month or two,” she said, referring to a controlled environment provided for testing innovative products, services, or business models in a limited and supervised manner.

SBP officials said the central bank, which has been researching options for its own digital currency, is ready to launch its pilot or sandbox in a month or two.

Kamil added that the launch of the digital currency was “part of our five-year strategy.”  

Under the strategic plan titled “SBP Vision 2028,” which was announced on Monday, Pakistan’s central bank said it plans to transform the SBP into a high-tech, people-centric institution. 

The bank also plans to bring inflation to the target level (5-7%) in the medium term and promoting fairness in the banking system in next five years, as per the SBP Vision 2028.

The deputy governor said the CBDCs have been launched by a handful of countries so far while other countries and central banks are examining them.

According to Atlantic Council CBDC tracker, so far, only Nigeria, Jamaica, and Bahamas have launched their CBDCs whilr other countries including China, India, Saudi Arabia, France, Ghana, Canada, and Uruguay have launched their pilots.

Pakistan has been studying the options of launching digital currency since 2019 with the launch of laws for electronic money institutions (EMIs).

The regulations also cover other regulatory requirements including outsourcing activities, anti-money laundering and countering-financing of terrorism (AML/CFT), consumer protection, complaint handling mechanism, oversight, and regulatory reporting.

Despite not getting recognized as legal tender, the interest in cryptocurrencies has been on the rise in Pakistan, which recorded around $20 billion of cryptocurrency value in 2020-21, according to a research report by the Federation of Pakistan Chamber of Commerce and Industry (FPCCI).   

However, the deputy governor of SBP clarified that CBDCs are different from cryptocurrencies. 

“People do mix [them] sometimes,” she said, adding that CBDCs were different from cryptocurrencies as they will be considered the central bank’s legal tender currency.   

Meanwhile, cybersecurity experts termed the rollout of the sandbox by Pakistan’s central bank a “landmark step”.  

“Financial services and business models have been revolutionized by technology, and among them, digital currencies are the manifestation of state-of-the-art breakthroughs,” Dr. Muhammad Khurram Khan, professor of cybersecurity at King Saud University, Saudi Arabia, and the founder of Global Foundation for Cyber Studies and Research (USA), told Arab News on Friday. 

He said nations around the world have been stepping up their efforts to test and launch their own stable digital currencies.

“It would be a landmark step if Pakistan’s central bank laid the foundation and rolled out a sandbox to test and standardize the measures for local use cases and scenarios for the fintech industry.” 

He, however, added that cybersecurity risks make the whole financial ecosystem vulnerable to security and privacy risks.  

“The central bank of Pakistan should give paramount importance to their digital currency sandbox and comply with personal data protection and global cybersecurity standards,” Khan advised.

Pi KYC APPLICATION PROCESS

To apply for Pi KYC (Know Your Customer), you would typically follow a process that involves submitting your personal information and verifying your identity. Pi Network is a cryptocurrency project that aims to create a decentralized digital currency accessible to everyone.

I can provide you with a general outline of how a typical KYC process works for cryptocurrency projects.

Registration: Start by registering an account with the Pi Network or the designated platform for their KYC process. This may involve providing your email address, creating a password, and agreeing to the terms and conditions.

Personal Information: Fill out the required personal information. This may include your full name, date of birth, residential address, nationality, and contact details. Make sure to provide accurate and up-to-date information.

Identity Verification: Submit documents to verify your identity. Commonly accepted documents for KYC verification include a government-issued photo ID, such as a passport or driver’s license. You may also be required to provide a recent photograph or take a selfie for facial recognition purposes.

Address Verification: To confirm your residential address, you may need to provide additional documentation, such as a utility bill, bank statement, or official government document that displays your name and address.

Review and Submission: Carefully review all the information you have provided and ensure its accuracy. Make any necessary corrections before submitting your application.

Processing Time: Once you have submitted your application, the KYC team will review your documents and information. The processing time can vary depending on the platform and the volume of applications they receive.

Approval or Rejection: After the review process, you will receive a notification regarding the status of your application. If your application is approved, you will be granted access to the Pi Network or the relevant services. In case of rejection, you may receive a reason for the denial and possibly have the opportunity to appeal the decision.

It’s important to note that the specific KYC process for Pi Network may differ from the general outline provided here. Therefore, it is recommended to refer to the official Pi Network documentation or reach out to their support channels for the most up-to-date and accurate information on their KYC process.

compliance

customer, onboarding, 

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