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Pakistan is set to take a major step toward digital finance, as the State Bank of Pakistan (SBP) partners with Japanese blockchain technology company Soramitsu to launch a pilot program for a central bank digital currency (CBDC) later this year. The initiative was first reported by Nikkei Asia. The pilot will run on Soramitsu's CBDC platform and is being funded by Japan's Ministry of Economy, Trade and Industry under its Global South Future-Oriented Co-Creation Project. The aim is to explore how a digital version of the Pakistani rupee could improve payment systems, financial inclusion, and overall economic efficiency. SBP Governor Jameel Ahmad, speaking last month, confirmed that the central bank is "building up our capacity" for launching a digital currency. According to economic experts, this move could be particularly impactful in Pakistan, where large segments of the population remain excluded from the banking system. Masato Toriya, an associate professor at Tokyo University of Foreign Studies, highlighted that much of rural Pakistan still relies heavily on cash, with low rates of bank account ownership. The introduction of a CBDC, he said, could help reduce the high costs and logistical challenges of distributing cash, especially in remote areas.Soramitsu brings significant experience to the table, having implemented Cambodia's Bakong digital currency in partnership with the National Bank of Cambodia. The company has also conducted CBDC pilots in Papua New Guinea and the Solomon Islands. In January, representatives from SBP and Soramitsu visited Cambodia's central bank to study its digital currency system, ahead of finalizing their own collaboration. With a population of 250 million and a GDP of about $400 billion-eight times larger than Cambodia's-Pakistan represents Soramitsu's most ambitious CBDC undertaking so far. Disclaimer: This information is based on official Announcement: we are not responsible for the accuracy, timelines, or implementation of the Digital Rupee project. #DigitalRupeePK #Pakistan #fintech #DigitalCurrency #CBDC
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ChatGPT is trying to beat the stock market. Would you trust it with your money? A Reddit user has sparked interest with an unconventional financial experiment: giving ChatGPT $100 and letting it trade stocks. Nathan Smith launched the six-month project to see how well OpenAl's GPT-40 could pick under-the-radar stocks with minimal capital. In its first month, the Al-powered portfolio jumped 25% - outperforming major small-cap indexes like the Russell 2000 and XBI, and even the S&P 500, which only rose by about 3%. While the dollar gain was modest ($25), the performance itself raises intriguing questions about Al's stock-picking potential. However, the experiment isn't entirely autonomous. Smith inputs trading data daily and enforces strict stop-loss rules, meaning human oversight remains crucial. Past academic studies offer mixed reviews on Al's ability to trade profitably at scale, warning that consistent success by Al could reshape market behavior itself. Still, Smith's project - born from skepticism over flashy Al investment ads - is a compelling case study in the power and limitations of Al-assisted investing. Whether the portfolio continues to outperform remains to be seen. Smith outlined his work in a post on r/Dataisbeautiful this week.
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In response to the rupee's sharp dec_line, Pakistan's intelligence agency, with backing from the army, has stepped in to curb black market dollar trading, according to the Exchange Companies Association of Pakistan. This move echoes a similar 2023 intervention that temporarily stabilized the currency. Security forces, including the FIA, have begun targeting illegal money dealers, many of whom have now gone into hiding. As a result, the open market dollar rate dropped by Rs. 1, signaling early impact from the enforcement actions. #pakistancurrency #DollarCrisis #RupeeWatch #CurrencyCrackdown #Write2Earn
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How important is watching the charts to you? me: 📉 Phone hanging for dear life, but I must monitor that BTC dip... Even in the subway — liquidation alerts wait for no one 😩💀 #CryptoLife #Binance #bearmarket #BTC #PEPE #ETH #CryptoMeme #HodlOrCry
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An 82-year-old widower in Guangdong province, China, deeply devoted to his cat Xianba, whom he rescued with her kittens years ago, is seeking someone willing to provide lifelong care for her and in return is offering his entire estate, including his apartment and life savings. He carries no children and fears for Xianba's future, sparking both praise and concern online as some have offered care without needing money while others warn of potential legal and ethical pitfalls. #AltcoinSeasonLoading #AltcoinSeasonLoading #Write2Earn
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