Dubai is considered one of the best cities to live in the Middle East. It is recognized worldwide as one of the most popular tourist destinations, for being luxurious and ultra-modern. They recently launched their very own Dubai Coin!
These days there is a lot of talk about this city. This is because this year in October the Expo Dubai will be held. It is a universal exhibition to be the main engine of global economic reactivation. Additionally, Dubai has launched its own digital currency called DubaiCoin with an international starting price of $ 0.17 per unit.
How to use Dubai Coin?
With this new cryptocurrency, you can access both goods and services, either online or in person. The city wants people to use the coin in place of regular paper money. The circulation of DubaiCoin will be controlled by the city itself, and also by authorized brokers. As the celebration of the ExpoDubai will possibly attract around 25 million visitors. Consequently, it seems to be a good time for the city to launch its cryptocurrency.
In a press release, They said that Dubai seeks to play an increasingly important role in the future of global finance and trade. One of its plans for the next few years is for Dubai to be the first blockchain-powered government.
Centralized digital currencies: opinions of some experts
Muhammad Chbib is the ex-CEO of Tradeling, an innovative technology company that leads the business-to-business eMarketplace in the Middle East and North Africa (MENA) region.
In an interview, the executive noted that suppliers have been changing their minds about the merits of digital sales tools. On the other side, buyers have sought new ways to navigate third-party supply chain service providers.
Today, more and more vendors are going digital so supplier diversification is working for them, as digital commerce opens up new sales opportunities.
For its part, Citi has studied the importance of central bank digital currencies (CBDC). His team of researchers has expressed that we are at an “inflection point” in the history of money. We face different paths to modernize payments. And as those paths form, different digital form factors will co-exist.
His team also said that the strong global interest in cryptocurrencies such as Bitcoin and Ethereum has fueled the development of digital money. In turn, it awakening the interest of institutional investors and companies.
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
Future Blockchain Summit returns to reunite global Blockchain ecosystem as part of only major in-person tech event of 2020
Bullish news from the UAE: Middle East update
Big News: Ripple Price is about to TRIPLE? This News Confirms…
This Coin gained 1,000% amidst the Crypto Crash…BUT BEWARE!
Careem, Blockchain and Dubai: Mudassir Sheikha On The Future
Positive signs for Blockchain in the Middle East
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
National Bank of Dubai implements Blockchain technology to reduce cheque fraud
Dubai Metaverse Strategy: How will it Affect Cryptos?
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
Coinbase Adds Venture Capital and Wall Street Talent
News from Crypto Asia: Bahrain, India join forces
Bitcoin Price – The King of Uncertain Times?
SFF x SWITCH 2020 Kicks Off with a Live Global Audience
Ripple Price Prediction – How High will XRP reach in 2050?
The Actual Panorama of the Virtual Money in India
You might also like
More from Altcoin
Polygon vs Polkadot: Who Will Hit $10 in the Next 90 Days? Potential Scenarios Unveiled!
Which one will hit $10 in the next 90 days? Let's dive into Polygon vs Polkadot potential scenarios to find …
How High will XRP Price reach after Ripple wins the SEC Lawsuit? XRP 3$?
Will we then see a price explosion from the XRP coin to $3 if Ripple wins the SEC lawsuit? Let's …
BNB Price Prediction: 5 Reasons Binance Coin Could Hit $500 in the next 90 days!
How does the Binance Coin (BNB) look over the next three months? Let's take a look at it in this …