Dubai Will Announce First-Ever State Cryptocurrency

Emcredit, a subsidiary of Dubai Economy, and UK-based Object Tech Group Ltd will work together on new technology
The partnership has been set up to develop and realize emCash, an encrypted digital currency, which people can use to pay for various government and non-government services in Dubai.

Dubai Hug Blockchain technology
The pliability (flexibility) and service of cryptocurrencies make the solution a win-win for Dubai. The executive is strongly pro-Blockchain and perceives it as the next major wave of paradigm changing technologies, and needs to be forward-thinking in adoption. According to Ibrahim:

“The fast-paced atmosphere and unbelievable readiness to adopt innovative technology have made Dubai the ideal place for us to do business. This plan is a great example of the passion we have met here, together we are essentially creating a whole new financial ecosystem. It will tack Blockchain technology to make financial transactions cheaper, faster and more secure while reveal the huge advantages of embracing this technology for governments, business, and customers alike.”