A first from Dubai: Government launches an official digital currency

According to local media reports, the local government in Dubai has launched an official digital currency called emCash. It has been learned that this digital currency will be used to pay government and non-governmental services.

Dubai embraces Blockchain technology

Dubai officials stand out with their pro-Blockchain policies. Authorities see Blockchain as the next big wave of rapidly changing technological developments.

Deputy Director-General of Dubai Economy Ali Ibrahim said:

“Incredible in adopting innovative technology desire has made Dubai the perfect place to do business. This project is a good example of that ambition. We are actually creating a whole new economic ecosystem together.”

Blockchain technology is widely adopted in Dubai. Working with the goal of becoming a fintech hub for the eastern world, Dubai is one of the first places to sell properties in Bitcoin.

The new official digital currency created by the government will take the region one step further in adopting Blockchain technology.

Blockchain Summit Istanbul November 2017 (Blasea)