First Bitcoin Exchange Starts in Pakistan
"We plan to create a platform (Urdubit Bitcoin Exchange) where people feel safe with the world of Bitcoin and hopefully substitute it for trading locally as easily as Pakistani rupees, while giving everyone an opportunity to invest in this commodity." Zain Tariq, Urdubit, Pakistan Zain Tariq and Danyal Manzar have launched Pakistan's first Bitcoin exchange called Urbudit, according to media reports . It represents an attempt to introduce Pakistanis to the digital currency and bring them into the wider Bitcoin community. As a virtual currency, Bitcoin is created and stored electronically on a computer or mobile device. There are over a hundred digital currencies in use today but Bitcoin is by far the most popular one and accounts for more than two-thirds of the virtual currency market. Satoshi Nakamoto, a computer programmer, proposed Bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent...