KARACHI: Dubai-based mobile app Lock&Stock, which works to curb “digital addiction” among students, is all set to launch its operations in Pakistan on September 15, 2020, the country head of the company said on Tuesday.
The app, founded in 2017 in the United Arab Emirates, rewards students for not using their phones while studying, working out and spending time with friends and family, among other activities. Students can then use their rewards to redeem exclusive discounts from the app’s partner brands, apply for jobs and internships, and secure scholarships.
So far, 50,000 students have spent the equivalent of a combined 586 years and 12 weeks offline due to the app. In 2019 alone, Lock&Stock students secured over half a million dollars in scholarships and fee waivers at various universities around the world.
“In universities and colleges, students mostly remain on devices during the lectures, that is why the app is developed to incentivize the students ... by giving them rewards so they could stay away from these devices and concentrate on education,” Omar Mirza, country head of Lock&Stock, told Arab News. “The app is ready to be launched on September 15, 2020, available as a free download on Android and iOS.”
In a statement released on Monday, Craig Fernandes, the 23-year-old CEO of Lock&Stock, said “digital addiction” among students was on the rise, especially among 16-18-year-olds who spent hundreds of hours glued to their smartphones.
“Our brand purpose is to improve the lives of students and we aim to fight digital addiction among students from around the world,” Fernandes added.
The Lock&Stock app works by locking up other apps in your phone while you use it.
“Every time you are locked up you can’t use any other app on the mobile phone,” Mirza explained. “The app then rewards students for the amount of time they lock their phones.”
Minutes away from the phone can earn rewards from food, leisure and retail brands, as well as job opportunities and scholarships at top universities around the world.
“In the UAE, we have 400 vendors including retail outlets, cinemas and over 100 restaurants where this key could be used,” Mirza said.
A major objective of the app, the Pakistan country head explained, was to link students with 100 global universities located in the United States, Europe, Turkey, and the UAE and make the admission process simpler.
“Earlier it was a very complicated process if you want to apply for ten universities, that required offline visits or online visits to these universities’ websites, which was a time-consuming process,” Mirza said. “But now all 100 universities have been uploaded in the app as a single source.”
The developers also intend to provide a one-window platform through the app for students seeking admission in Pakistani universities: “Through this app we are digitizing this process and they will be able to apply from a single platform to any of the [Pakistani] universities,” Mirza said.
Students who apply for admission through Lock&Stock get up to 10 percent discounts on their tuition fees and also earn weekly prizes by competing with one another.
Dubai startup fighting ‘digital addiction’ to launch in Pakistan on Sept 15
https://arab.news/vu5by
Dubai startup fighting ‘digital addiction’ to launch in Pakistan on Sept 15
- Lock&Stock app rewards students for not using their phones while studying, working out and spending time with friends and family
- So far, 50,000 students have spent the equivalent of a combined 586 years and 12 weeks offline due to the app
Pakistan seeks cooperation with US on regulating digital assets, ambassador says
- Islamabad signals push to align crypto regulation with global frameworks
- Move follows creation of crypto council, regulator, recent private-sector deals
ISLAMABAD: Pakistan is seeking closer cooperation with the United States on the regulation and governance of digital assets as it builds a formal policy and regulatory framework for cryptocurrencies and related technologies, Pakistan’s ambassador to Washington said on Tuesday, according to state broadcaster Radio Pakistan.
The outreach comes as Pakistan moves to bring digital assets into a regulated space after years of informal use and legal ambiguity. Earlier this year, the government set up a Pakistan Crypto Council to advise on policy, followed by the passage of a Virtual Assets Ordinance and the creation of a dedicated Pakistan Virtual Assets Regulatory Authority to oversee licensing, compliance and market supervision. Officials have described the steps as part of a broader effort to align with international standards while managing financial and regulatory risks.
The policy push has accelerated in recent weeks, with Pakistan announcing partnerships with global crypto firms, including Binance, and signing agreements with domestic exchange HSX aimed at improving compliance, investor protection and market infrastructure. Authorities say millions of Pakistanis already use digital assets, largely outside the formal financial system, prompting concerns over consumer risk, capital flows and regulatory oversight.
“Sheikh highlighted Pakistan’s massive strides in adoption and regulation of digital assets and cryptocurrencies,” Radio Pakistan reported, referring to comments by Pakistan’s Ambassador to Pakistan, Rizwan Saeed Sheikh, during a meeting with Patrick Witt, Executive Director at the US President’s Council of Advisers for Digital Assets.
“He said the establishment of Pakistan Crypto Council (PCC), Promulgation of Virtual Assets Ordinance/Act 2025, Creation of Pakistan Virtual Assets Regulatory Authority (PVARA) and a landmark shift in central Bank’s perspective are reflective of our conscious effort to put in place an institutional framework and comprehensive ecosystem to facilitate millions of our users of digital assets.”
According to Radio Pakistan, Sheikh told his US counterpart that Pakistan viewed cooperation, coordination and collaboration as central to building what he described as a “new economy,” and expressed interest in learning from international regulatory experiences. The broadcaster said the ambassador also welcomed what he described as US leadership in shaping global approaches to digital finance and blockchain regulation.
Pakistan’s move to formalize digital asset regulation comes amid broader economic reforms under an International Monetary Fund program, with authorities under pressure to strengthen financial controls, improve transparency and manage risks linked to emerging technologies. While officials have framed the crypto framework as regulation-first rather than promotion-led, analysts say its implementation, particularly enforcement and coordination with the central bank, will be closely watched by international lenders and investors.
The US meeting did not announce any agreements or joint initiatives, but Pakistani officials have indicated that further engagement with international partners is planned as the country develops detailed rules for licensing, taxation and compliance in the digital assets sector.
