The state of Dubai will launch its own cryptocurrency!
Another state that sees digital money as a tool for the future!
The state of Dubai has just created its own digital currency that bears the name emCash.
This currency will serve both the government itself and the ordinary citizens of the country.
Deputy Director-General for Economy Ali Ibrahim said that it would be possible to pay for coffee, pay school fees and various government taxes, or transfer funds.
Dubai recognizes in Blockchain technology an innovative technology that will enable the state to be at the forefront of progress and remain an attractive and ideal center for the business world.
Ali Ibrahim sees the exploitation of Blockchain technology as a way to make financial transactions faster, cheaper and more secure.
The state of Dubai thus hopes to become an example for other governments as well as for business and would also like to become the center of the eastern world in this field.
Recently Dubai has even allowed real estate sales paid only in Bitcoin.
After Uruguay, Dubai.
One more step towards the expansion and recognition of cryptocurrencies in the world.
Who said cryptocurrencies have no future?