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Economy

Blockchain and crypto-currencies: An insightful interview on the digital revolution

Osama Rizvi

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The concept of crypto-currencies is undoubtedly a revolution in the world of finance. However, there is something more than only currencies that qualifies for being revolutionary. The linchpin on which this edifice of digital currency rests is Blockchain.  An open, distributed ledger that forms a chain of links. Everyone can see it, access it. There is no need for any third party. A can make a transfer to B any time without any “other” party being involved. Yes, like the reader I had a plethora of questions. Is this some form of financial rocket-science? What are the main pillars of this world? What is its use? How can if effect the world? How can it affect us? So on and so forth. Hence, in order to understand this new concept I decided to embark on this journey to comprehend the scope of Blockchain and subsequently, these currencies. One should not expect tips on trade and currency buying recommendation from the string of interviews that I plan to conduct. However, those who want to truly understand and realize the potential of Blockchain and crypto-currencies, may find these interviews insightful.

The first interview answers many questions but raises new ones too. Mr. Francesco and Mr. Luigi both were kind enough to give their time for the interview. Below is the introduction of both of the gentlemen.

Francesco Abbate – Finance Director at Procter & Gamble, co-founder of decrypto.biz (you’ll read more about this below), CEO at Swiss Crypto Advisors. With 15 years of high level Finance experience in a multinational environment, coupled with many years of study and interest first in Bitcoin and then in crypto-currencies he is not only an investor & trader but also an orator, public speaker in the world of crypto.

Luigi Matrone – Former global brand manager at Procter & Gamble, co-founder and CEO at E-Business Institute, a consulting firm that provide digital and e-business solution for companies. Investing in the crypto world since few years, also co-founder and CEO of Smarter-chains, a digital platform helping manufacturers drive margin improvement and customer centricity by leveraging new technological capabilities.

I tried to get out some tips. But I got much better than only tips.

How is the weather in Davos? Blockchain must have been a dominant part of the narrative at the recent WEF?

It is quite cold and it snowed a lot here, but the super-hot topic was undeniably blockchain, there were so many discussion panels on this, it is clearly one of the most debated area, with people interested in this from all industries. It shows that this is getting traction, although we are still at a very early stage.

Let’s begin with the value. Because in the end it is the ‘value’ that is going to determine the usage, prevalence and future of cryptos. What is the intrinsic value of Bitcoin/crypto? They are not backed up by gold like $ dollar or guaranteed by the government?

That is a very good point. Actually since 1973 Nixon abandoned the gold coverage of $ dollar so we entered into the fiat money era. We are personally the opposite of an anarchist and I like and value order and governments, although to be fair people in Argentina or Zimbabwe might have a different idea of what trust in the government means.

When it comes to intrinsic value it all depends on circumstances and what people are willing to use to transfer value. We started with barter deals, we went through gold, fiat money, credit cards…and credit card was a big revolution decades ago as people could not see the real money. In prisons often cigarettes are used as a mean of value transfer, so it is all relative and what matters is what people are willing to attribute value to, not always this might be what is guaranteed by a government.

So ultimately value is a matter of trust. But how can we believe in Bitcoin if it is not regulated? We often read of hacks and theft. I wouldn’t leave my money on the mercy of these cyber-crooks.

Very important point indeed. We get this question every day. Bitcoin in itself as a protocol and as a software is fully regulated, there are rules for everything, the code is open source and everyone can read it. You can see how new Bitcoin are created roughly every 10 minutes as rewards for mining, how transactions are signed and broadcasted, how the ledger is validated and maintained. You can’t change the rules without consensus; it is a “distributed democracy system”. And in itself the system is completely secure, not because we say so but because that is how it mathematically works, the block-chain itself practically immutable thanks to the amount of computational power necessary to add every block to the block-chain, it is just mathematically impossible to go back and change the content or orders of transaction, you can’t lose your Bitcoin or get stolen this way. What indeed happened and will continue to happen is hacks to personal accounts which are not protected, or to exchanges which are centralized. This has nothing to do with Bitcoin itself, it is either a personal fault (you are responsible for your security, like you would not give your credit card pin to strangers), or the result of a centralized player exchanging money for Bitcoin. If you leave your Bitcoin on exchanges and their central server gets hacked, then you can lose. Again, the point here is not to leave Bitcoin on exchanges and use basic security and safety procedures to be protected, we also take care of education and consultancy about this in www.decrypto.biz. As always, the users are the weakest point of the chain, but this can be minimized with specific knowledge, tools, and good practice.

For laymen like me, how would you explain the  concept of Blockchain and thereof, Bitcoin (other currencies)? Can you explain to the readers how does Bitcoin actually works? 

Another important question.It is critical to divide Bitcoin and Blockchain and do not confuse them. In simple terms, the Blockchain is a public ledger of transaction, like we all know in accounting or in any database. The critical difference is that it is decentralized, i.e. there are no central copies and it is distributed on a number of nodes (computers) in the network, and it is mathematically protected so that its content and order can never be altered of forged. Hence this has huge applications in every business where the transmission of data is important, as everything about this can be done in a better, cheaper, faster and more secure way on a Block-chain. Imagine things like insurances, notaries, auditing just to mention a few.

Once we understand this, we better get why Bitcoin is on a Block-chain. To use a simplified metaphor, Bitcoin is an application of a technology (Block-chain). Bitcoin is actually just a digital file that lists accounts and money like a ledger, simply this ledger is in a Block-chain. Hence it is decentralized, transparent, auditable, resistant to outages, permission-less, censorship resistant, and most importantly there is no trust required. No one has to trust anyone as the mathematics behind Bitcoin makes it possible to do transactions without any central authorizations like you need for a bank wire.

Francesco Abbate (left) Luigi Matrone (right)

So when do you see yourself becoming a multimillionaire? Long term prospects of investing in crypto-currencies?

Let’s just say that we think we are only at the beginning of the journey, the adoption rate for Bitcoin is still well below 1%, so imagine what the price might be once this is broadly adopted and with a much higher number of transactions processed per second. Most importantly, we are of the view that there is a huge potential for some coins beyond Bitcoin, and we are still very much on time to enter. We think there is a lot of money to be made if you invest wisely, manage trading emotions, and study the fundamentals of what you are trading with, this is when you can have sizeablereturns, and this is what we want to study and analyze.

Personally, we are in crypto for the long term, we believe some of the projects behind the coins are here to stay and transform many industries, everything which is about transmission of data is going to be hugely affected by this, it is a revolution that will catch many by surprise and unprepared. While short term we will continue to see high volatility and market turmoil as on January 16th, this is nothing new in the financial markets and we consider it a normal phase in a general adoption journey, we have gone through 7 drops higher than 30% just in last 12 months, we never sold in panic but always carefully analyzed the set up and bought when we believed the panic was about to be over. We will not manage our funds personally in the future; will have them managed by a trusted specialized fund.

What is Decrypto? What is your plan for future?

Decrypto.biz exists to democratize access to crypto-currencies. Our goal is to educate people while giving them analysis on crypto-currencies so that we can all understand what’s happening in this new economical era of decentralization and drive ecosystem adoption while making new investments and profits.

We are here because The Block-chain technology is at an early stage of development and crypto-currency adoption is still relatively limited.

As a result, the education offer currently available is either very complex or technically designed for insiders (programmers, nerds…) or shamefully rudimentary (YouTube Do-it-Yourself). Information is asymmetric and Web is flooded with myriads of news and countless data across thousands of sites, blogs and social media. Lots of people are interested in investing in crypto-currencies, but they don’t know (or don’t have the time to learn) what are the key steps to start. And the technical knowledge to operate safely, properly and profitably.

For this reason we offer a comprehensive educational program for people who are eager to understand the world of crypto-currency but don’t necessarily need or have the time to understanding all what’s behind. We developed ways to find important news before others do. We issue a crisp newsletter to recap the key news of the day. We use a private Telegram channel for the breakthrough news which may require short term actions. We share the insights gathered through technical and fundamental analysis. To make them actionable we provide a simple guide on how to start trading in 10 steps and regular market update.

Personal predictions? Do you have any? Would you like to share?

In this world you hear anyone claiming to be an expert and going into predictions of specific prices by coin. We will try to make a different prediction: that the long term bullish trend will stay intact for major coins having a real tangible user case (Ethereum, Zcash, Bitcoin, Monero, Litecoin among the top) and they will all significantly increase in value. I also think that volatility will stay very high; we will keep having very steep declines followed by super bullish rally through the full 2018. Lastly, we predict that 2018 is the year when big investors’ money will significantly enter the game, both Goldman Sachs and Mike Novogratz for example admitted to be working on building crypto trading desks and hedge funds, it will be interesting.

This very thought that in case the currencies go up and people realize their profits, gives this whole scenario a shade of skepticism. Do you really think that the masses can become rich? All of them? This is what everyone is expecting, isn’t it?

We think it is important to first understand what these currencies really do and are, and the most important thing is to understand that just few of them are real currencies (Bitcoin, Litecoin, Bitcoin cash), many of them are simply tokens of equity of a company. In simple words, people are buying companies at a very early stage hoping that their Block-chain based business model can disrupt a specific industry (finance, banking, insurance, gaming, gambling, auditing, etc). Once you understand this, then you can make sound business decisions based on their product, their business model, their team, their go to market plan. Hence, if you make money it is because you saw very early a profitable business model ahead, this is what we try to do as well at Decrypto, we analyze markets and companies to try and understand if they are undervalued and has potential to grow. If you only start trading in this world because you think things will increase we think you are doing something fundamentally wrong, this is where you end up buying at the top, panic selling few weeks later, or maybe you could even win short term some money, but that is like playing roulette, we don’t do that.

Some people make money because of their understanding of the market and have the ability to trade it; others lose them because they are just moved by greed and emotions. With decrypto.biz we want to show people that there is a learn what’s happening with this new technology,understanding why certain coins (companies) have a potential, and provide education and analysis material to interested people.

What is an ICO? Are they as lucrative as these coins? 

ICO in simple terms is a way for innovative and Block-chain based companies to raise funds for their developments. You don’t have to go to banks or VC firms, you split your companies in small pieces called tokens, you assign a value to each one expressed typically in Bitcoin or Ethereum, and you ask people to contribute with Bitcoin and Ethereum if they want to buy a part of your company. We would say it is an evolved form of crowd-funding. Like everywhere in this world of cryptos we can have amazing opportunities and epic scam. In 2016 up to mid-2017 almost every ICO went well, and people just made money without great level of analysis, many of them returned more than 1000x to date (NXT, Iota, Ethereum, Stratis, and many others). Things changed, regulations are more stringent, cases of very poor business models and fraudsmultiplied, we think there are still some of them who can revolutionize specific industries but it is getting more and more complex and you should be extremely scrupulous in your analysis, this requires a high level of technical, financial, and business knowledge

What happens today is that people have a very partial view of this, and vast majority just invest in specific coins “because it is going up” or “everyone talks about it”. That to us is a recipe for failure, and not the reason why we have faith in the Block-chain and crypto-currency world. What we do, and what we try to communicate on decrypto.biz is analyzing the fundamentals of the companies behind these coins, what is their business model, who is on the team, what’s their business plan, their revenue forecast, when they will have their prototype in the market, etc. There are amazing companies which are just born and in next months can revolutionize the way we think about notary, real estate, gambling, ticketing, digital identity, and much more… The new Amazons are here, but you don’t find them by chance, our motto at Decrypto is that “success is no accident”

Before we conclude the interview and ask for your final verdict. A piece of advice for the readers? Also, few tips (just kidding!)

There are always 3 things we tell everyone who asks us for tips on a daily basis on this market

Study, understand what you are doing. If you do not have time nor knowledge, don’t do it or find an expert advisor. This is how we started decrypto.biz, getting access and knowledge is complex and we do want to educate people and democratize access to the crypto world.

Don’t put more money than you are willing to lose, don’t sell your house for this!

Don’t start if you can’t handle emotions, this will remain volatile, again either you are able to manage this or you’d better have someone doing this for you, like a hedge fund.

I hope you enjoyed reading the interview! But as I said in the starting, my curiosity has increased now. We’ll try to dig deep into this technology and currencies.

Let me know in the comments if you have any questions. I will send them to both the gentlemen.

Independent Economic Analyst, Writer and Editor. Contributes columns to different newspapers. He is a columnist for Oilprice.com, where he analyzes Crude Oil and markets. Also a sub-editor of an online business magazine and a Guest Editor in Modern Diplomacy. His interests range from Economic history to Classical literature.

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Economy

Dynamics of Current Global Economic Crisis

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Global economic architecture is fundamentally weak and fragile and having multiple internal contradictions which emanate in different economic and financial crisis in different time periods, H.P Minsky. Similarly, Marx asserted, sustainability of existing hegemonic economic structure depends on continues revolutionizing and modernizing of means of production and more exploitation of labor. However, because of this process the absolute and relative surplus value is generated which creates wealth. Additionally, because of the destructive patterns of the global structure the wealth shifts in the few hands, which makes and favors the global elite and sends rest of the society in the swamp of hunger and poverty.

Moreover, because of this mechanism, phenomenon of industrial reserve army emerged which creates problem of permanent unemployment and cause reduction in demand and later manifest in the form  of crisis i.e. economic or financial crisis. Nevertheless, credit crisis of 1772 which was originated from London and quickly spread to rest of Europe. The great depression of 1929-1939 which is considered the worst economic and financial disaster of the 20th century begin with the wall street crash. OPEC oil price shock of 1973. The Asian crisis of 1997 which is also known as Asian flu which  began from Thailand and quickly spread to east Asia and its trading partner and the most recent 2008 financial crisis can be considered as dominant examples. Howbeit, this is the basic contradiction of the existing hegemonic economic structure from where the crisis begins. In this context, Minsky highlighted that stability itself creates instability. Additionally, instability increases uncertainty and that uncertainty causes economic crisis. Though crisis hits different economies (developed and underdeveloped) differently, but it has also some universal impacts like reduction in growth, increase in unemployment, stock market crash, reduction in trade volume and currency crisis etc.

Withal, when economic crisis begins this sharpens contradictions among the capitalists. Consequently, these contradictions are converted into rivalry and manifested in different shapes  like price war etc. Furthermore, this scenario has much devastating effects where small, weak and newly established businesses cannot survive and the large businesses convert into monopolies and make strong cartels or syndicates for survival and cause more exploitation of both labor and consumers. Such process can also be analyzed through the different economic crunches; For instance, during the period of financial crisis of 2008 small business went under or were forced to lay off employees, slash spending, halt expansion plans and find new ways to survive which results in the closure of about 1.8 million small businesses during the period of December 2008 to December 2010. Moreover, every year 670,000 business were created before the decade of financial crisis and this figure reached at 715,000 in 2006. But during the period of financial crisis the number felt dramatically and reached 560,000,  highlighted by Barbara Weltman in his report.

It is of great importance to understand that due to the weak and fragile foundations, current economic structure cannot resist against any shock, these shocks might demand, supply or financial shock. Demand shock which can be seen after the tragedy of 9/11, supply shock which was caused by rising in oil prices in 1973 and financial shock which created the financial crisis of 2008. Besides, such shocks have more disastrous effects during the period of uncertainty and instability and result in the deep economic recession.

However, same situation can be observed due to the emergence of COVID-19 pandemic. Covid-19 has come up with triple shocks demand, supply and financial shock simultaneously. Ironically, the fragile structure was already suffering from economic instability and shrinking the world economy. under the prevailing uncertainty the various international institutions and think tanks have already been reporting about the effects of uncertainty on the global economy. in the form of conflicts among great powers, trade wars etc. For instance, before the Covid-19, world was facing growth uncertainty and there was tendency of reduction in the global output. This uncertainty created conflict among different powers where the Sino-US trade war is one of  the example of those conflicts. Further these conflicts negatively affected the world macro-economic indicators and shrank global growth and  trade volume. As warned by IMF “US-China trade war will cut the global growth slowest pace since 2008-2009 financial crisis”. Additionally, in November 2019 financial times highlighted that “because of trade tensions global trade balance shrank 1.2 percent”.

However, this indicates  that fragile hegemonic structure unable to tolerate triple economic shock (demand, supply and financial shock) caused by covid-19 and that might lead to recession. According to the world bank global economic prospect 2020“The global economy will shrink 5.2% this year. That would represent deepest recession since second world war with the largest fraction of economies experiencing declines in per capita output since 1870.”in addition it has also been warned in the same report that  “Economic activity among advanced economies is anticipated to shrink 7% in 2020 as domestic demand and supply, trade, and finance have been severely disrupted. Emerging market and developing economies (EMDEs) are expected to shrink by 2.5% this year, their first contraction as a group in at least sixty years. Per capita incomes are expected to decline by 3.6%, which will tip millions of people into extreme poverty this year.”

Nonetheless, the existing hegemonic structure is not only fragile but also complex and standing on the foundation of exploitation of state and society at larger level. Therefore, any single factor cannot be considered as the main reason of the crisis. Rather multiple internal and external factors. However, the internal and hidden contradictions of global economic structure have been playing a significant role in global economic crunch. Additionally, these contradictions have made the recession destiny of the existing economic structure. Hence, whatever may be the situation, the recession is mandatory. This may start from any sector financial or real but it affects the whole economy and the external shocks fasten the  process which can be observed during covid-19. 

As Michel Robert explained while discussing the Marxist theory of  crisis that “Crises of capitalist production are due ‘under consumption’, a lack of spending by workers who do not have enough to spend or due to ‘disproportion’, the anarchy of capitalist production means that production in various sectors can get out of line with others and production can just outstrip demand; or it’s the lack of profitability in an economic system that depends on profit being made for private owners in order for investment and production to take place.” Similarly, H.P Minsky argued in his financial instability hypothesis “financial crisis are endemic in capitalism because periods of economic prosperity encouraged borrower or lenders to be progressively reckless this excess optimism creates financial bubbles than busts”

It can be concluded that covid-19 has severely affected the complex socio-economic structure. Nevertheless, it is not the sole reason of current economic recession as it is being appeared in the contemporary data and literature produced by the world institutions and think tanks. These publications are neglecting the role of fragile structure and its foundations which are not in position to absorb any shock. Thus comprehending the genuine causes and factors influencing the crisis is necessary to develop appropriate mechanism to contain and address the various dynamics of the existing hegemonic structure.

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Economy

Pandemic “Locked Down” People’s Life in the Developing and the Poor Countries

Ronny P. Sasmita

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Due to pandemic pressures, the countries around the world are preoccupied with matters of lack of human resources, medical equipment, and tamping capacity of the hospitals for coronavirus patients. For the community 40 percent of the lower middle class, especially in urban areas of developing and poor countries, large scale of social restriction in dealing with pandemic means losing daily, weekly, even monthly incomes.

Being asked to take two or three months off, that means two or three months of lost income. And their government are not ready to deal with that situation. But in developed and rich countries, with large and  strong economic fundamentals, turn out that not all of them are ready to provide guarantees to affected citizens, although they can provide any kind of  the provision of pocket money, the provision of food, and all forms of economic protection during lockdown.

In other side, entrepreneurs, for the most part, did not really feel the effects of tax incentives and relaxation, because it seems to be obligations that had to be paid if they were producing. Then if they do not produce and employees are asked to take a day off but still be paid, the story will be different. Entrepreneurs will also be paralyzed. The conditions are very different from the top richest conglomerates in developing countries, for example, whose reserves may be very strong.

What are about medium Enterprises, SMEs, especially micro? Countercrisis schemes have not clearly been seen at all. The countries may not be able to give it in maximum capacity because of zero fiscal support. Pushed a little to the new budget post, instead it became a fiscal deficit. The only option left is debt. And on one hand it will be politically bad for the government, but on other hand it will be new target to corrupt.

With this picture, COVID 19 attacks, economically, accept it or not, directly to the heart of the national economy of developing countries, which are largely supported by MSMEs. If these pillars fall, shake the countries economy. That’s when injections from various major countries and donor agencies are needed. So the conditions are indeed very difficult.

People who are able to buy any needs, the money in their accounts is still abundant, may be angry, even condemning, why there are still those who work or roam around looking for a living. But for them, (daily working class or micro business owner), stay  working  is also part of saving life, or actually starving to death. On the other hand, they have not yet been able to be certain about what guarantees they will get from the relevant authorities if they are not active.

If there is no more room to work, then asked to take a day off,  the choice to survive is to return home to countryside. In the villages, they can make a living in various ways, even if they stop working, for a few months at least. And it turns out that even then the mobility was banned, because it was considered to be expanding the pandemic to the villages. Then what else can they do? The situation is actually already locked down and stand off. The people economy is locked up. The more it moves, the more it twists.

What people requests from the government are to anticipate the spread of the corona virus on the one hand while anticipating an economic downturn that will stop many people from earning income, the business stop moving, then there will be an explosion of unemployment, poverty, living improperly, lack of food, including the needs of any installment, the educational needs, risk of education lost of the children, ect, on other hand

In what ways can the already collapsed economy be brought back, which plunges many people under such poverty, unemployment and hopeless lines? Especially if unemployment and famine spread? No body wanna answer. For example, in Indonesia, the 1997-1998 crisis plunged no less than 10 million people into the abyss of unemployment, which to this day is still unemployed, displaced after being laid off, competing for work with a new workforce, which makes them unsold in the eyes of job providers. Fortunately, there are online motorcycle taxis or online taxis, so now some of them can join in making a living. But in pandemic stand off, all of that little hope is gone.

The crucial note for this pandemic case is that the humanitarian affairs are not just a matter of health, but a matter of the survival of millions of people in decent conditions, not in tragically frightening conditions, without hope and certainty. To be healthy, there are costs. The problem,  it is not borne by their state. And for independent isolation, there are also costs, and it is not borne by their government. The best way, it’s best not to judge or blame each other about people who insist on their hearts to keep struggling for a living. The developing countries government should take action to protect them with any health equipment needed.

The second, the majority of people, everywhere in the world, work hard, go home early at night, the reason is the economy, to become more prosperous, so that the need to be able to live healthier and more worthy can be fulfilled, so that the future of children born is more secure because there are costs for education and health, so that their lives in the future are better.

But there are many government of the developing and the poor countries  clearly have no “more ability” to deal with poverty and unemployment well amid pandemic. More over if the 60 percent of the countries workers are informal workers, live in vulnerability, just above the poverty line. Let’s assume that their government wish to do all of that, but they have no capacity. So what if they have the authoritarian and non democratic governments?

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Economy

Conversion of Local Business into E-Business by Effective Use of Social Media

Ahsan Siraj

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The spread of coronavirus (Covid-19) has affected almost all areas of life. The whole world is facing a crisis because of this pandemic issue. A lot of people have lost their jobs and many are struggling to survive in this situation. All businesses whether working at a large scale or a small scale are facing problems due to the unavailability to resources to operate businesses successfully. The developed countries are somehow managing this situation because of the successful implementation of online businesses from a long-time period. So, for those countries both customers and businesses are relatively ok with the situation by not going in the markets to buy things and place orders online and get it delivered at the doorsteps easily.

Whereas many developing countries like Pakistan have certain barriers in the full acceptance of e-business offered by the local and international companies. As per many studies on this topic, there are a lot of factors that pose hindrances in full acceptance of e-commerce in Pakistan. However, there is one thing worth mentioning that these hindering factors are related to all stakeholders. A few of those factors include insufficient technological resources, Government Policies, legal issues, social acceptability of the online shopping trend because of trust issue between companies and customers whether in terms of provided customer information at online shopping platforms, payment security, or the difference in shown and finally delivered product at customers doorstep, etc. But there has been seen a change in this trend in a couple of years with the development of the telecommunication industry. As most of the people now days have internet access at their places and are following social trends all around the world. So, the trend on online shopping from official brand stores’ websites has developed rapidly due to the trust of customers in brands’ shown and delivered products on their official online websites. But as far as local businesses and third party online shopping websites are concerned they are still a certain group of people consider taking a chance to shop online.

    In the pandemic situation, as all the markets were closed due to the lockdown in the country, everyone was worried about the situation whether a businessman or a customer. In this crucial time of survival, there has developed a new trend of conversion of local businesses into e-businesses by using social media effectively. Here are those businesses are under discussion who are owned by the people who are not mostly educated enough to know the value of effective use of social media or those people who even being educated at a certain level didn’t think before that they can utilize social media for their businesses to operate when everything was closed. Talking about the customers who were conscious about all the factors of trust and all before were just considering one thing and that was the availability of their desired products at their doorstep in their required time frame. Somehow, like big brands and businesses, many small businesses managed it quite well and provided online shopping facilities to the customers.

In the period of locked down, these small local businesses used social media i.e. Facebook, Instagram, what’s app, LinkedIn, etc. to display their products online offering discounted prices and free home delivery. This step not only provided them the opportunity to earn money in the time of crisis but also put the foundation of new trends in online shopping i.e. the acceptability of online shopping in the society even in the smaller and backward areas of Pakistan. We hope that this conversion of local businesses into e-businesses will continue to flourish successfully in the future and the acceptability of online shopping in Pakistan will grow over time. Here, in the end, one thing that matters is that all the stakeholders should play their effective role in this growth especially the Government should make policies to support the effective implementation of online business trends in Pakistan.    

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