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Emcash Cryptocurrency. Here’s more about what cryptocurrency is, how to buy it and how. What Is Cryptocurrency? It is currently trading on 1 active market(s) with $15,411.12 traded over the last 24 hours. With recent launch of FARAD, now the country is focusing on state cryptocurrency. January 18, 2021 by The Author. Investing in EmCash is investing in the future. Wednesday, June 2, 2021. EmCash is a cryptocurrency that the Dubai government launched. EmCash is used to make your transactions more secure and faster by using cryptocurrency instead of digital money transfers. Cryptocurrency has become highly popular in the past couple of years, and there is no.

The government of the city of Dubai launched their own blockchain-based cryptocurrency last week. The city’s economy department partnered with one of its subsidiaries called Emcredit Limited and U.K.-based Object Tech Group, Ltd. to create emCash. This new “encrypted digital currency” is a product of partnerships Dubai has cultivated through their Accelerators Initiative and brought under the umbrella of the Dubai Economy Accelerators.

“A digital currency has varied advantages – faster processing, improved delivery time, less complexity and cost, to name a few,” Dubai Economy deputy director general Ali Ibrahim said in a press statement. “It will change the way people live and do business in Dubai, and mark a giant leap for the city in harnessing game-changing innovations to improve ease of business and quality of life.”

Officials claim that emCash uses the latest blockchain technology and works as part of payment system called emWallet. As the city’s credit bureau, Emcredit has made sure that the emWallet handles various types of transactions—from “their daily coffee and children’s school fee to utility charges and money transfers”—with a near-field communication (NFC) support through a smartphone.

The city will also have a shared platform, called Blockchain as a Service, to help Dubai government agencies use blockchain in various projects.

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Blockchain’s potential as a decentralized and secure platform for transactions, financial or otherwise, isn’t lost to those with eyes to the future. Dubbed as the “city of the future,” Dubai is certainly one of those, but it isn’t the first to have an “official” cryptocurrency. The launch of the emCash, however, is only a first step.

Dubai has been working on becoming the world’s first economy that’s built on the blockchain, and with it its own cryptocurrency. This is where the city’s efforts differ, and could potentially influence economies through the entire United Arab Emirates (UAE). “Obtaining approvals from other UAE authorities will be taken into consideration if required,” Ibrahim said.

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The Wall Street Journal reports that Smart Dubai, the government office responsible for encouraging innovation in the country, will be conducting government and private organization workshops over the next few months to identify those services best enhanced by blockchain. After that, the office expects that pilot projects in both the public and private sectors will begin rolling out this year.

“The fast paced environment and incredible willingness to adopt innovative technology has made Dubai the perfect place for us to do business,” said Muna Al Qassab, CEO of Emcredit Limited, in the city’s press release. “This project is a great example of the ambition we have met here, together we are essentially creating a whole new economic ecosystem.”

Disclaimer: The Dubai Future Foundation works in collaboration with Futurism and is one of our sponsors.

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3. Dubai, UAE: emCash In 2017, Dubai announced a state-wide (or emirate-wide) cryptocurrency, known as emCash. The Dubai Department of Economic Development will work with the blockchain payment provider ( and blockchain smartphone developer ), Pundi X and UK-based startup, Object Tech Grp Ltd, to create an encrypted digital currency, which people can use to pay for various government and non.
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1. Cryptocurrency Name: Emcash Dubai launched the world's first state-backed cryptocurrency in 2017 known as Emcash. Emcash tokens run on their own native blockchain and can be used for various government and non-government services, such as daily coffee, children's school fee, utility charges, and money transfers
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4. DUBAI, 26th September, 2017 (WAM) -- Dubai Economy has achieved a milestone in its accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payment. The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd together under the Dubai Economy Accelerators umbrella to develop and implement emCash, an.

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• Dubai City Creates The Stable & Regulator-backed Emcash Cryptocurrency For Its Residents! The world of blockchain will soon be leveraged by the UAE population in a good number of activities following its credit bureau 'Emcredit' partnership with Pundi X, Loyalty Labs LLC & Ebooc Fintech. This move is set to bring cryptocurrency services closer to [
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