In a significant development for the advancement of digital technologies in Pakistan, the Lahore University of Management Sciences (LUMS) officially unveiled the Center for Digital Assets Research (CeDAR) on April 24. The center has been established with the goal of becoming a premier institution for research, education, and policy development in the fields of blockchain, Web 3.0, and digital assets.
The creation of CeDAR has been made possible through a major grant from the Stacks Foundation, a prominent organization recognized for its work on a Web 3.0 platform that facilitates smart contracts on the Bitcoin network. This initiative marks a significant collaboration between the academic sector and the global blockchain ecosystem. Among the notable figures associated with this development is Dr. Muneeb Ali, a distinguished LUMS alumnus and a pioneering figure in the blockchain industry, who co-founded Stacks.
Dr. Ali emphasized that the rise of crypto networks represents one of the most transformative technological revolutions since the advent of the internet. He expressed that this collaboration not only deepened his personal connection with LUMS but also provided a platform for equipping future engineers and entrepreneurs to shape the next generation of internet technologies using blockchain.
Despite being ranked among the top ten nations worldwide in terms of digital asset adoption, Pakistan continues to function within an uncertain regulatory environment. The establishment of the Pakistan Crypto Council has indicated the country’s willingness to move toward formalizing regulations around digital assets. In this evolving landscape, CeDAR is expected to assume a crucial role by serving as a center for policy research, technological innovation, and collaboration between different sectors.
To mark its inauguration, CeDAR organized an international conference at the LUMS campus. The event attracted a diverse group of participants, including global experts, government representatives, and fintech leaders. Notable attendees included senior executives from international firms such as Zodia Markets, Haruko, Scope Markets, Klickl, Dragonstone Capital, Binance, and Fasset. Leading Pakistani organizations like Abhi Bank, KTrade, TPL, Brillianz Group, Alfalah Investments, Zayn VC, and NayaPay were also present.
The conference featured a series of roundtable discussions with key regulatory stakeholders, including the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), and the Pakistan Banking Council. These discussions revolved around critical topics such as policy formulation, compliance issues, energy consumption in digital asset mining, investment strategies within the digital asset space, and the development of a skilled workforce for the emerging digital economy.
With CeDAR now fully operational, LUMS is positioned to establish itself as a leading regional institution in blockchain research and education. The university aims to accelerate technological innovation and foster greater financial inclusion throughout Pakistan by leveraging the center’s capabilities.