First Pakistani Hospital that Accepts Digital Coins is Here

You might have heard of Bitcoin, a digital currency or a “cryptocurrency” that exists as a kind of payment system over the internet. Transactions take place between users directly without the help of an outside intermediary.

Although the system has caught on in some Western countries, its presence is still non-existent in Pakistan and many developing countries. Now, one hospital in Islamabad is looking to change that with a different kind of cryptocurrency— PakCoin.

Meet PakCoin

PakCoin is Pakistan’s very first digital currency. Based on LiteCoin, an open source peer-to-peer digital currency, PakCoin is open to both local and international users. It promises instant and risk-free transactions.

Digital currency is created by a process called mining. PakCoin has a total capacity of mining 182 Million Pakcoins (PAK)— 10% of which has been pre-mined.

“150,000 Pakistanis will receive 50 Pakcoins for free.”

According to CoinMarketCap, one PakCoin is currently worth $0.001033. That amounts to just 5.41 rupees for 50 PakCoins considering the current dollar rates.

Asia’s first Surgical Hospital Accepting CryptoCurrency

Abid Hospital, located in Blue Area Islamabad, is accepting cryptocurrency (Pakcoin) as an alternative to cash. Moreover, they are also offering a decent 20% discount for anyone paying with PakCoin. They shared this news on their Facebook page as well.

Inaugurated in January 2015, Abid Hospital is a multidisciplinary hospital equipped with the latest technology providing patient care 24/7 including limited emergencies. Currently, they offer 50% discount for OPD and Lab, 20% for IPD, to Islamabad Police and Islamabad Traffic Police as well.

“They provide charity based health facilities up to limited extent for deserving patients.”

Following companies are also on their services panel:

  • ZTBL (Zeri Taraqiyati Bank Limited)
  • EFU (Allianz)
  • PEC (Pakistan Engineering Council)
  • Sabro

  • I’m a tech savvy but I have never been interested in bitcoins etc, and frankly, I don’t know it’s purpose clearly. Could anyone kindly briefly elaborate any prominent benefits of these digital currencies?

    • There are several advantages to using bitcoin – a completely decentralized digital currency- over other currencies:
      – Since transactions are user-to-user, there are no bank fees involved.
      – Your account cannot be frozen.
      – Can be used anywhere around the globe.

      You can watch this video to learn more about BitCoin.

    • my FYP is very closely related to Crypto-currencies … never imagined anyone would be asking questions about these :p

      the best advice i can give you is that the algorithms running at the backend of these currencies are compute-intensive and solid enough to avoid being exploited. but wait a while before investing …

      • To be honest, I agree with your comment. But I have a question for you. Why take the hassle of commenting on every single one of his comments? Is he like an ex-boss or are you his disgruntled employee? You seem to be really having a grudge against him or something that you make so much effort in taunting him in each and every one of his comments :P

  • But you guys got to give credit to this hospital. Whereas other hospitals are in business of looting, this hospital cries outright “we are here for business purposes”, because even after discounts they will earn profits when converted in paper currency.

  • The future is cryptocurrency i already invested in different curreccies and enjoying profit <3

  • People will actually hand over clear pictures of their NIC for 50 pak coins which actually amount to 7 rupees. Best way to get actual copies of NIC for the cheapest rates :)

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