Lahore University of Management Sciences (LUMS) has anchored investments in excess of Rs. 670 million worth cryptocurrencies to develop Pakistan's first academic blockchain program DLT (Distributed Ledger Technology) and related platforms, according to the university's official press release.
Lahore University of Management Sciences (LUMS) leverages the 5 million STX tokens currently corresponding to approx. PKR 670 million ($ 4.1 million US) donated by Stack to a new academic program in blockchain, cryptocurrency and distributed ledger technology and more.
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This academic program will focus on emerging markets to create a hands-on learning environment for teachers and students.
Muneeb Ali, a 2013 LUMS Computer Science graduate and founder of Stacks, said in his recent tweet that “the introduction of Bitcoin smart contracts for engineers is a major motivation for this initiative”.
(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
Muneeb Ali is a Pakistani-American computer scientist and internet entrepreneur. He studied computer science at LUMS and obtained his PhD. in Computer Science from Princeton University in 2017
As blockchain technology evolves from a cryptocurrency backend to a platform to support a wide variety of distributed applications, Stack hopes to unleash Bitcoin's full potential as a programmable base layer. The local branch in Pakistan, which started in 2013 as a research project at Princeton University, hopes to raise market awareness through various community-building and advocacy firms.
Muneeb Ali is proud to partner with Syed Babar Ali School of Science and Technology, adding that LUMS is one of the best engineering and research universities in South Asia, known for its groundbreaking research and innovation.
"Krypton networking is probably the greatest technical solution since the Internet itself. This new crypto collaboration not only strengthens my connection to LUMS, but can also prepare the next generation of engineers and entrepreneurs to adopt the next generation of internet development of blockchain technology." He adds.
The university has a long history of advanced technology and research, but hopes to use these funds to train the next generation of researchers, engineers and entrepreneurs through new interdisciplinary programs in the field.
