According to media reports, the government plans to issue Dubai’s own state cryptocurrency under the name emCash.
Ali Ibrahim, Deputy Director of Dubai Economy, says that the token can be purchased as normal. So it does not matter whether you pay the coffee or the school fees with emCash. Via NFC technology transactions can be handled easily with the smartphone.
A further advantage is seen in the fact that the payments are processed in real time and traders do not have to intervene in financial services providers in order to accept customer payments. Correspondingly, traders will save a lot of money because no transaction fees are incurred as with card payments. In addition, counterfeit money is countered by emCash.
Support comes from the British company Object Tech Group Ltd, which provides the technology, including the Wallet emPay. The extent to which state cryptowogy is used by people in the near future has yet to be waited. What is certain, however, is that the state or the authorities through emCash get a better overview, who, when something has spent.
The Bitcoin News
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube