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Dubai Cryptocurrency Maintained by Government Will Have Its Own Payment System

A subsidiary of the Dubai Department of Economic Development, blockchain payment provider Pundi X, and its partner Ebooc Fintech & Loyalty Labs LLC made a deal to provide point of sale (PoS) payments in emcredit’s emcash currency.

Ebooc will provide PoS terminals for in-store payments, while Pundi X plans to roll out 100,000 units globally over the next three years.

Emcash is pegged to the dirham, the United Arab Emirates’ fiat currency.

Therefore, Dubai consumers will soon use cryptocurrency to pay for goods, services, and utilities, paying for government fees etc.  


Dubai continues to position itself as a blockchain innovator at state level, with multiple schemes ongoing as part of its goal of becoming a fully blockchain-powered city by 2020.

Blockchain keeps gaining in prominence among small startups, international corporations and leading countries as well. A growing number of them strive to implement the blockchain technology and gain the maximum benefits.

Whether you consider the opportunities of blockchain for establishing a new breakthrough business or level-upping an existing one it’s a great tool to create an amazing project! You may find out about your idea realization feasibility by asking us.

 

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