ISLAMABAD: The recently launched national root certification system will enhance the trust of international investors in Pakistani companies and their products, WealthPK reports.
Pakistan has recently launched Public Key Infrastructure (PKI) for National Root Certification Authority. It will provide identity and digital verification to every company in the country.
Usman Khalid, the business head of cloud solutions at Khazana Enterprise, told WealthPK that earlier PKI verification was conducted through other countries. “This is Pakistan’s first national root certification system. International firms can now see the verification mark of root certification on the website of Pakistani companies,” he added.
He said that cryptography supported identity authentication and provided data and transaction integrity and Digital Signature Certificates to authenticate the identity of a firm electronically. “It also provides a high level of security to online transactions by ensuring absolute privacy of the information exchanged using a digital certificate. This certificate is issued by a third party to verify the institutions and business organisations,” he added.
Usman Khalid said that one could use digital certificates to encrypt information so that only the intended recipient could see it. “You can digitally sign information with assurance to the recipient that it has not been changed in transit and also verify your identity as the sender of the message. Unlike a handwritten signature, a certificate-based signature is difficult to forge because it contains encrypted information that is unique to the signer,” he said.
He believed that the launch of the national root certification system was an extremely positive development and would promote the country’s economic prosperity by promoting e-businesses and creating jobs for youth and numerous opportunities for the IT industry.
“Trust and security form the foundation for digital systems, services and businesses. Moreover, Pakistan’s e-commerce policy has underlined the importance of effective data protection as well,” said Usman Khalid.
Electronic signatures and digital certificates are essential components of every e-commerce to ensure security and build trust in the system.
Ammar Jafferi, the founder of Digital Pakistan, told WealthPK that a business deal was always done at least between two persons. “Trust is the main element in business correspondents. Crypto technology ensures security and trust in a business deal but complications are still there. PKI system will help to increase the trust of international investors in Pakistan,” he said.
He said that PKI verification would secure the financial information of customers and avoid cyberattacks. He said that the government should raise awareness and understanding of people and private sectors to adopt the PKI verification.
“There are so many information technology segments, which can work with PKI system. Blockchain market has numerous opportunities to offer service to the Root Certification Authority to maintain the digital records,” said Ammar Jafferi.
He said that the government should train students in technology universities to harmonise them with the PKI system. “He said that it would also expand the scope of the PKI system to generate employment opportunities.
“The member countries of the South Asian Association for Regional Cooperation account for two-thirds of global population. We are dependent on the west because we lack technology transformation. I think this initiative will also introduce an independent system of electronic dealings,” Ammar Jafferi told WealthPK.
