Category: Tech

  • Turkey trades over $6bn worth of cryptocurrency every day

    When President of Turkey Recep Tayyip Erdoğan replaced the head of the central bank in March 2021, thousands of people rushed to convert the Turkish Lira into cryptocurrencies. 

    There are two largest crypto exchanges in the country, Paribu and BtcTurk, and they are trading over $1 billion worth of cryptocurrency every day. The 11 most popular crypto exchanges in the country have a $6 billion aggregate trade volume as per the local Turkish media.  

    The interest of Turkish people and specifically research centres has increased drastically. 

    “From the very beginning of Bitcoin, Turkish people have been eager for and interested in cryptocurrencies, so it is not a new thing like in Venezuela or Argentina”, said a lecturer at the Kadir Has University in Istanbul, Turkey.  

    In 2020, the Turkish Information Technologies and Communications Authority published a report stating that more than 2.4 million Turkish individuals trade-in cryptocurrency, making up 3% of Turkey’s population. 

    Note that the average daily registrations of Turkish users on the British cryptocurrency exchange CEX.IO since 14th March are 783% more than in February, according to the company’s managing director.

    Since Turkey has no regulations for traditional crypto exchanges, peer-to-peer (P2P) crypto trading platforms such as Binance and Coinbase have seen traffic increase since January 2021. 

    It is noteworthy to mention that between 2019 and 2020, new registrations on crypto exchanges rose 10%, while in February this year, they were 3x times higher than the average month in 2020, according to CoinDesk.

  • Airlink establishes smartphone production facility in Pakistan

    Airlink establishes smartphone production facility in Pakistan

    Airlink has established a state-of-the-art smartphone production facility in Lahore which was inaugurated by Federal Minister for Industries and Production Muhammad Hammad Azhar on March 20.

    The event was attended by many renowned faces of the sector, including EDB Chairman Almas Hyder and other government officials.

    The organization has been primarily in the distribution business for the past 10 years working with top smartphone brands like Samsung, iPhone, Huawei, Xiaomi, Alcatel, TCL, Tecno & iTel.

    The company has been a strong proponent of investment in Pakistan and has established a factory with 100% owned equity and a production capacity of six million units per annum. The facility has eight production lines, two quality lines and four packaging lines.

    It is expected to bring an enormous opportunity to provide employment to 1000+ skilled and non-skilled workers.

    Airlink’s new venture is a state-of-the-art smartphone production facility in Lahore. It is the most advanced mobile phone production facility with a vision of contract manufacturing in the country by meeting all international standards of quality and production.

    The company has already secured contracts with TECNO, itel and TCL with all regulatory approvals.

    Addressing to this historic occasion, Airlink Communication Ltd CEO Muzzaffar Hayat Piracha expressed his gratitude over the inauguration of the production plant.

    “I feel honored that Airlink was able to establish this state-of-the-art facility in these unprecedented times which also resonates with the Prime Minister’s vision to promote ‘Made in Pakistan’ products that will not only create employment opportunities for people of Pakistan but also reduce the import bill, thus lessening the burden on foreign exchange reserves.”

    This initiative of the government and its governing authorities will help to focus on employment generation, import substitution and technology transfer. It will also connect Pakistan to the international supply chain and will create export potential.

    Hammad Azhar, while speaking on the occasion, congratulated the Airlink team for their efforts and said that in consonance with the vision of the PM, Ministry of Industries and Production was committed to bring in investment-friendly policies while ensuring ease of doing business in the country.

    Airlink is a pioneer in the distribution business with a 25%  share in the handset market. It is one of the fastest-growing smartphone distributors in Pakistan and has been leading a dominant number of global brands on board. It has also been declared among the top taxpayers of the country and has been awarded ‘Top tax Payer Award’ three times in a row for it in the last four years.

  • AstraZeneca may have provided incomplete efficacy data from the latest COVID-19 trials: US NIAID

    AstraZeneca may have provided incomplete efficacy data from the latest COVID-19 trials: US NIAID

    The US National Institute of Allergy and Infectious Diseases (NIAID) has expressed concerns that British drugmaker may have provided incomplete data of vaccine’s efficiency.

    The speculations increased when several patients developed blood clots after jabs of the AstraZeneca COVID-19 vaccine. There are rumours that AstraZeneca may have given outdated information from the trials, resulting in an inaccurate view of the efficacy of the vaccine.

    “We urge the company to work with the Data Safety Monitoring Board (DSMB) to review the efficacy data and ensure accuracy by presenting updated as quickly as possible,” said the NIAID, in a statement.

    However, AstraZeneca defended the safety of the vaccine shots. The firm stated that the “safety of the vaccine has been extensively studied in Phase III of the clinical trials and peer-reviewed data confirms the vaccine has been generally well-tolerated.”

    Meanwhile, several European and Scandinavian states like Denmark, Norway and Iceland temporarily suspended the use of AstraZeneca’s Covid-19 vaccine after fears of developing post-jab blood clots. Later, they resumed AstraZeneca vaccinations after The European Medicines Agency (EMA) rebutted the assumption by stating that there “no chances of developing blood clots after using AstraZeneca vaccination.”

    In September 2020, AstraZeneca had suspended global trials of its experimental coronavirus vaccine after an unexplained illness in a participant in Britain.

    The vaccine had been described by the World Health Organization as probably the world’s leading candidate and the furthest developed.

  • Fake COVID-19 reports, vaccines being sold on darkweb

    Fake COVID-19 reports, vaccines being sold on darkweb

    Anonymous traders are selling fake COVID-19 negative test reports, vaccines and vaccine passports on the darkweb.

    According to reports, the price for vaccine shots ranges between $500 to $750 for AstraZeneca, Sputnik, Singopharm and Johson & Johson.

    The vaccines advertised include the Oxford-AstraZeneca at $500, Johnson & Johnson and Sputnik each at $600 and Sinopharm at $750.

    Moreover, fake vaccination certificates are being sold by traders on the for as little as $150.

    The vaccine-related advertisements have tripped after January. One seller offers next-day delivery, saying, “For overnight delivery/emergency leave us a message.”

    Another advert on a hacking forum is offering fake negative tests and reads, “We do negative COVID tests, for travellers abroad, for getting a job etc. Buy two negative tests and get the third for free!”

    Sellers of vaccines appear to be from the US, Spain, Germany, France and Russia. Multiple adverts in Russian Cyrillic text as well as in English were discovered.

    The mode of payment used for a transaction between buyers and sellers is through cryptocurrency.

  • Manchester City of English Premier League launches cryptocurrency for fans

    Manchester City of English Premier League launches cryptocurrency for fans

    Amid the record high performance of cryptocurrencies in the financial market, Manchester City of the English Premier League has launched their own “$CITY-crypto” token in the market.

    The English club and Socios.com partnered to launch the cryptocurrency that offers fans the option to claim huge club promotions, rewards, AR-enabled features, and other exciting stuff.

    The football club has partnered with a digital entertainment company ‘Animoca’ to develop and circulate blockchain games for the fans. These will be the first-ever digital assets created for Manchester City.

    The $CITY token can be traded like any other cryptocurrency and redeemed for goods and services available across the global crypto-market.

    Moreover, football clubs of Italy, Juventus and AC Milan, Spain’s Barcelona and France’s Paris Saint-Germain have all put out tokens through the company before, which is run by a Maltese group called Chiliz.

  • Large asteroid to zip past Earth today

    Large asteroid to zip past Earth today

    The largest asteroid to pass by Earth this year is expected to swing closest on Monday, giving astronomers a rare chance for a good look at a space rock that formed at the dawn of our solar system.

    While in astronomical terms this marks a close encounter with the asteroid — called 2001 FO32 — Nasa says there is no threat of a collision with “our planet now or for centuries to come”.

    The nearest it will get will be two million kilometres away, according to the US space agency.

    That is roughly 5.25 times the distance of the Earth from the Moon, but still close enough for 2001 FO32 to be classified as a “potentially hazardous asteroid”.

    “We know the orbital path of 2001 FO32 around the Sun very accurately,” said Paul Chodas, director of the Center for Near Earth Object Studies.

    Nasa says 2001 FO32 would pass by at about 124,000 kilometres per hour, much faster than the speed at which most asteroids encounter Earth.

    The asteroid is estimated to be about 900 metres in diameter and was discovered 20 years ago.

    Astronomers are hoping to get a better understanding of the asteroid’s size and a rough idea of its composition by studying light reflecting off its surface.

  • Donald Trump plans comeback with ‘own platform,’ says advisor

    Former President of the United States (US) Donald Trump will reportedly be making a comeback on social media with “his own platform,” one of his senior advisors Jason Miller has said.

    Miller said that the platform “will be the hottest ticket in social media, and will completely redefine the game”.

    “This new platform is going to be big,” remarked Miller, predicting that Trump will draw “tens of millions of people”.

    Trump’s Facebook and Twitter account got suspended after deadly riots broke out at the US Capitol in Washington DC on January 6.

    While Miller refrained from sharing further details, he said that “everybody is going to be waiting and watching to see what exactly President Trump does”.

    In the meantime, Miller said that Trump will continue to endorse Republican candidates, hinting that one is expected to come on Monday.

    “There’s a big endorsement coming that’s going to shake things up in the political landscape in Georgia. It’s big, it’s coming tomorrow, and just be sure to tune in,” said Miller.

    The former president had nearly 90 million followers on the social platform.

  • Government testing 5G ‘bands’ for immediate launch in Pakistan

    Government testing 5G ‘bands’ for immediate launch in Pakistan

    The Ministry of Information Technology and Telecommunications (MOITT) is testing options available for the immediate launch of 5G in Pakistan.

    As per details, the ministry has tested seven bands to evaluate the adoption of 5G services like low bands, mid bands and high bands.

    • 700 MHz
    • 2.3 GHz
    • 2.6 GHz
    • 3.5 GHz
    • MiIIi8meter wavebands
    • C-Band (3.6 – 4.2) GHz
    • Unlicensed Backhaul Frequency bands (P2P & P2MP)

    “The Government of Pakistan aims to launch 5G services in the country by December 2022. Having 5G at disposal will open avenues for investment. It will also accelerate the progress towards achieving the goal of ‘Digital Pakistan’,” said an official of the ministry.

    Last year, the Pakistan Telecommunication Authority (PTA) permitted mobile operators to conduct tests and trials of 5G technology under a limited environment and non-commercial basis.

    PTA has also issued a framework for the Test and Development of Future Technologies, particularly 5G wireless networks in Pakistan.

    The rapid growth in the demand for mobile data traffic for a better broadband experience has led to an increasing emphasis on the upcoming fifth generation of mobile technologies.

    International Mobile Technology (IMT) 2020 is much broader than the previous generation of mobile broadband communication systems. The IMT-2020 will be a cornerstone for all of the activities related to attaining the goals in the 2030 Agenda for Sustainable Development.

  • Roshan Digital Account attracts $671m in six months

    Roshan Digital Account attracts $671m in six months

    More than 100,000 Overseas Pakistanis have created accounts on the Roshan Digital Account (RDA), attracting almost $671 million, the State Bank of Pakistan (SBP) has announced.

    As per details, overseas Pakistanis from almost 100 countries have opened accounts which indicates the increasing reach of the RDA, helping the government and the central bank to improve the external account of the country.

    Overseas Pakistanis have been providing large amounts of foreign exchange in terms of remittances and now the RDA has attracted $671m. At the same time, long-term domestic Pakistan Investment Bonds attracted $150m foreign investment over the past four months.

    The State Bank said that half of the total deposits of $671m came over the last eight weeks, reflecting the growing interest of Pakistanis abroad.

    The purpose of the RDA is to attract millions of Pakistanis living abroad by giving them high returns on deposits in comparison to developed economies. Besides, they can also remotely open bank accounts in Pakistan through online digital portals without physically visiting branches.

    Non-resident Pakistanis (NRP) can now avail digital banking facilities, including access to online banking, domestic funds transfer, utility bills and tuition fee payment in Pakistan, as well as investments in the stock exchange and real estate with an option of full repatriation.

    On September 10, 2020, Prime Minister (PM) Imran Khan inaugurated the project and appreciated the joint venture between the federal government, SBP and commercial banks operating in Pakistan.

  • Samsung, Oppo to start assembling mobile phones in Pakistan

    Samsung, Oppo to start assembling mobile phones in Pakistan

    Smartphone manufacturing companies Samsung and Oppo are likely to start assembling mobile phones in Pakistan soon after the removal of sales tax, worth more than $200 USD, on locally assembled phones.

    According to reports, Samsung and Oppo are keen to enter the local market, but they are waiting for the implementation of a policy that will remove sales tax on locally assembled mobiles.

    The Mobile Device Manufacturing Policy 2020 was approved by the Economic Corridor Committee (ECC) in May 2020. The decision was subsequently approved by the Cabinet on June 2, 2020.

    Companies like Vivo, Airlink Communications, Invovi Telecom are new investors in the Pakistani market, and they have already started local assembly trial productions of mobile phones in February 2021.

    Together, these companies can produce over one million handsets per month. Besides, Karachi-base company Tecno has increased local mobile assembly form 150,000 to 650,000 cellphone units per month due to the increase in demand.

    With experienced companies like G-Five and Q Mobile already operating in the Pakistani market, the entry of new players and capacity enhancement by existing companies will allow Pakistan to meet a major portion of the local demand, which was around 3.6 million per month in 2020.

    In foreseeable future, the mobile production industry will likely become larger than the automotive industry of Pakistan.

    To further boost the electronics sector, work has already been started on preparing the appropriate framework for local assembly of tablets and mobile accessories to make this the fastest growing sector in terms of employment and exports.