LUMS to offer Cryptocurrency as an academic program

According to the Varsity official news release, Lahore University of Management Sciences (LUMS) has anchored investments totaling Rs. 670 million in crypto tokens to develop Pakistan's first-ever academic blockchain, DLT (distributed ledger technology), and related networks program.

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Muneeb Ali, the alumni of LUMS, confirmed the news via Twitter.

To build courses to enable faculty and students to study blockchain, Cryptocurrency, distributed ledger technologies, and more, LUMS can use the five million STX tokens (currently equal to around Rs. 670 million or $ 4.1 million) granted by Hiro, formerly known as Blockstack PBC.

It plans to concentrate on developing markets and other regions where it is possible to apply these innovations to their fullest extent.

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"This will not only allow new business models but is also expected to shape the future of novel distributed applications over the blockchain," Muneeb further suggested. The foundations for this transition are being laid by Stacks Pakistan, and Pakistan will profit tremendously.

The latest work will boost attempts to advocate crypto laws in Pakistan at the earliest, in addition to revamping academic curriculums and training students in the area of cryptocurrencies.