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Pakistani Students Develops Two Most important Apps

Karachi resident, Hamad Nadeem is an O level student studying in Naxar College. Hamad Nadeem, a Pakistani student has developed two most important apps with an initial investment of Rs. 50,000. One is econoxe, which helps stock market investors make informed decisions, while the other is the web-based application Nitoxi.org, which can be used at a cost of Rs 150.

With the help of which the possibility of corona can be estimated, Hamad Nadeem says that financial literacy in Pakistan is very limited, especially in the stock market, small investors traditionally invest based on rumors or unverified information.

Large investors, on the other hand, invest based on the impact of significant developments or changes in the stock market on the stock market if it is said that small investors do not have access to or have limited access to authentic economic information. So it would be true that this knowledge gap between big investors and small investors is the only obstacle to getting more people into the benefits of a stock market.

Hammad and his friends pledged to share the impact of the economic situation, news and analysis on the stock market with the general public and small investors free of charge. He started to develop an application which initially cost Rs. 20,000. In this mission of Hammad, gradually 100 young people joined to complete the application.

Assisting Hammad in gathering information, analyzing, graphics and, above all, reaching the general investor, these 100 young people are the founding team of this application that has taken the form of a financial literacy community.

The web-based application Nitoxi.org took 1 year to develop

The second web-based application, Nitoxi.org, took a year to develop, and using this application, the chances of being infected with Corona can be estimated with the help of computer algorithms.

This application provides an alcohol pad that can be purchased online, the tester has to enter the intensity of its scent after smelling the alcohol pad in the website questionnaire. After experiencing symptoms of fever in the last few days, difficulty breathing or attending public events and answering some such questions, one has to scan the QRC code on the card with the alcohol pad.

By analyzing these questions and the information provided through a computer algorithm, the website advises the tester to take a healthy, precautionary or PCR test, Hammad said in a conversation. I am looking at the chances of getting infected, which means that even after testing more than once, if the website advises you to get tested, get tested immediately to prevent the virus from spreading or spreading. The application was analyzed on the data of millions of students from foreign universities, which yielded fairly accurate results.

There is a lot of scope in Pakistan for new business ideas from the West
The companies that have opened in USA, Canada, UK, the successful start-ups are yet to come to Pakistan, so foreign companies and Pakistanis living abroad are coming here either to open companies in Pakistan or to get services from Pakistan. “There is a lot of scope in Pakistan for new business ideas from the United States and the West. We have to adapt these ideas to our environment and requirements,” he said. Not only do we have to make the government realize its role, but we also have to do our job.

In the future, the scope of econoxe will extend to mutual funds and banking insurance.
Hammad seeks to expand its application for financial literacy and stock market information and to use all its capabilities to strengthen this platform. In the future, this application will cover mutual funds and banking and insurance products. Also want to expand.

The application provides free information

Hammad spent Rs 20,000 out of his own pocket on the development of an application called econoxe, while the college principal also encouraged the idea and invested Rs 20,000 as an angel investor. In addition to All Index and 100 Index of Pakistan Stock Exchange, information and analysis of stock market index of Japan, UK and US are also part of this application. This application was introduced in June 2021. Information will be provided in English as well as Urdu.

I got the idea of ​​econoxe from economics book, Hammad

The idea of ​​econoxe app came from a book on global economics. In the book, the author attributed the failure of small investors to losses in the stock market as a result of lack of information. It is accurate and timely information that succeeds and fails. Explain the difference between investors.

This information and its impact on the stock market, which is first assessed, is beneficial, making it difficult for small investors with limited resources to access this information, Hammad said in a conversation. The basis of speculation in the stock market is the information failure of investors who have more information.

They take advantage of the fact that if both small and large investors have the same information, the possibility of speculation and loss of small investors will be eliminated and the stock market will grow on a stable basis. Consulted with his teachers and investors and some bankers who appreciated the idea and then together with their friends developed an application that would provide information on the stock market affecting everyone regardless of socio-economic background. Provides timely access in an easy-to-understand manner.

Digitization in the private sector is accelerating and start-ups are growing
According to Hammad, there is a lack of commitment in the public sector or the traditional bureaucracy does not want change but digitization in the private sector is happening very fast, the number of startups in Pakistan is increasing, the world’s largest venture capital is turning to Pakistan and Pakistani startups. Investment is growing. He said that as a youth, the future of Pakistan is bright in our eyes. It is better to work in one’s own field than to expect from the government. According to Hammad, there is still a lot of potential for digitalization in Pakistan.

The country’s big problems can be solved with technology

The purpose of describing these efforts of Hamad Nadeem is more to highlight the fact that even Pakistan’s major problems can be solved with the help of technology if there is determination. Hammad says that any problem of Pakistan can be solved with the help of technology, especially digital technology can be used for better governance, elimination of corruption, transparency in public affairs projects.

He said that the government talked a lot about digital Pakistan but very little work was done in practice, for example a citizen portal was created but major problems of the people could not be solved. These problems can be solved with the help of technology for ease of development, company registration, etc. Similarly, where there is corruption due to human intervention, corruption can be eliminated through technology.

The purpose of the web-based application was to reduce the pressure on the PCR

Hamad Nadeem said that the purpose of this web-based application is to reduce the pressure on the PCR. The test will need to be passed.

These techniques can be used in educational institutions, departures from airports, stadiums for sports competitions, etc. Alcohol pads for testing are being sold in bulk. At least 20 pads can be purchased which must be ordered online, according to Hammad. Talks are underway with Indus Hospital, Isa Laboratory and other large and authoritative pharmacies to popularize the facility.

The biggest test of this application was done at Nexar College itself where 500 alcohol pads were distributed among the students. The cost of preparation of this application was Rs. Developed with an investment of Rs. 30,000, this application developed by Hammad and his team has been used in Pakistan as well as in the United States and the United Kingdom. This technique has not yet been introduced in any country in the world.


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