Bitcoin Forum

Today, good news comes from Dubai, the Dubai city government seems ready to launch a digital currency. the name of the currency is emCash.

the Dubai government will work with technology companies to create emCash currencies. Dubai government hopes that emCash currency can be used for future transactions.

I want to know your opinion, which other countries will create currencies after Venezuela, Dubai, and Japan?

And as others might wonder where the news might come from, here's a link of the said plan of Dubai to launch their very own emCash (where "em" means emirates as Dubai belongs to the United Arab Emirates:

https://www.newsbtc.com/2018/10/08/dubai-to-launch-emcash-a-government-approved-digital-currency/

And indeed, without a doubt, this move proves how the world is taking cryptocurrency positively and making use of the blockchain technology that comes along with it.

Simply amazing. The future of blockchain and cryptocurrency has not been in doubt. It is only a matter of time and all peoples will be using one coin, or token. The technology is tested and proven to be working.

Dubai residents will soon have the means to pay fees, bills and other retail purchases with emCash, a blockchain-based, digital currency. The first UAE- The Dubai-based economy, is pushing for a more formal blockchain-based EMCash for wider adoption by launching point-of-sale (PoS) devices at stores across Dubai. PoS devices will also be deployed at Retail stores, which allow both citizens and residents of Dubai to buy goods after working with payment service blockchain Pundi X, Trade Arabia reported Monday

This is pretty good news considering Dubai is a country that is rich enough and started using crryptocurrency in their country, moreover this is fully supported by the government and I hope that this coin can change the cryptocurrency world which is currently a little sluggish, and I hope there will be many countries other developed countries that follow Dubai by making their own cryptocurrency and are supported by the government

Dubai should have created a digital currency. we all know that dubai is a rich country and has a large share in the trade sector.
It will be very beneficial and easier for transactions between countries. if each country has a digita currency this might help lift the popularity of digital currencies in the world

This is really cool and now people in UAE will help to grow the crypto currency demands. Now other countries will also launch there own currency

Will this help Crypto world? A country launching its own digital currency will basically be controlled by the goverment. So, where is the financial freedom?

Bitcoin is not controlled by anyone and that is the main reason for its popularity. I donot think this will be an encouraging news for the market.

I am not sure but have been hearing that India is also planning to launch its own cypto and mostly this will happen in 2019 after the elections. I do not have any concrete evidence or post regarding this news.

All this does is put the transactions of a fiat currency on a blockchain. Do you want your government to have the ability to record ever transaction you make with your money?

In the name of "blockhcain technology" these countries are actually expanding their control, not decentralizing it.

The only potential benefit is that it'll make it easier for the currency to be speculated upon outside of normal forex markets, which could provide an investment opportunity.

Ha, really? We're talking about currency here...you think crypotcurrency has been tested and proven to be working?

When was the last time you bought something at a local store in your city with bitcoin? When was the last time your parents, uncle, aunt, or siblings bought something with bitcoin?

i think its really great news and now more people from dubai will get chance to know more about crypto currency.
though they will launch govt control crypto but its really good news.

Thanks for the link! Dubai is a big tourist attraction and a multi-million city. It's is good that the Department of Economic development supports this initiative. The coin really has chances to become used as payment for various kinds of goods and services there. Other cities might then follow this example and step by step cryptocurrencies will become adopted around the world. It's always a pleasure to see when big and influential companies, countries and cities support blockchain and especially cryptocurrencies. As lond as there are crypto exchanges, perhaps we don't need the top coins to be accepted everywhere after all. Local cryptos make sense as an alternative to local fiat.

It's great news for all the citizen who lives in Dubai. After a certain time later they will all to use another way of making payments or transaction.

After long time we can see that such a good news.i don't know is it real or fake but i trust that this kinds of news is very positive to us.dubai is tha biggest business city, so that if dubai support digital currency that was amazing.      

Is it? They can already make payments digitally.


Why is it such good news?

I'm really curious why people think this is good news - anyone willing to chat about it?

If it comes to the use of digital currencies for transactions, I think every country will like to have its own digital currency.

Every country's currency is already digital...has been since the early 1990s. Developed countries at least.

If you can send your local currency from one person to another without having to hand them paper or coins, your currency is digital.

This misunderstanding is why people are so hype about countries putting their currency on the blockchain, it's not new. It's not decentralized. It's not more free. It just gives government another way to monitor what you're doing with your money. Bitcoin seeks to achieve the opposite!

thank you for the information bro, I only read local news, this is a big development for the crypto world, I think, in the future, every country will have a national digital currency.

and everyone will feel the many benefits of digital currency.

AFAIK, there's already one that's named after Dubai and that is DBIX (Dubaicoin).

https://coinmarketcap.com/currencies/dubaicoin-dbix/

IIRC, that is DBIC few years ago.

Each country does have a potential to create their very own crypto. But the next possible one would be Malta.

Is there an official announcement regarding it? if they have been working on it and it seems true if they will try to declare it to the public. as far as i know about the fact that they are not giving any clue about what will be the name of their digital currency but they are still try to take a lot of research to create their own digital currency.

I don't think Dubai will release one soon. Let's first see how it will go with the petro.
There have been rumors there will be a hyper modern city with AI and all the new tech in the middle of the desert. So perhaps that city will have crypto accepted everywhere.

If this is true then this is a good news to the whole crypto as another big country had now supported this technology. Let's wait for more news from this country.

Dubai stepping into to the world of cryptocurrency is indeed a good news. Here is to hoping more and more countries to embrace crypto.

When ever it really got implemented as a payment system, it will surely giving hope to any people.
It will be more and more people racing to get all those coins to be able to get what they wish.

I think it is not so good if every country has its own crypto currency.
A cryptocurrency would only be really strong if it is used by many countries.

Dubai is a rich oil country if they can launch their own cryptocurrency they can guarantee success because they have all the means, money power, and followers, they have a lot of good connections in the Arab worlds and business company worldwide so we'll watch for it.

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https://allcryptotalk.com/uploads/monthly_2018_10/EVX-Chart.PNG.e66a107e99bb6dd0a556cfa4af8da18c.PNG

Depending on who does this and how it is used it could be seriously important in the crypto world however I do not see how it could get that big because I doubt enough important people would care about it.

Normally anything they do is big and huge including all business deals they do or even the buildings and hotels they have, they literally made a palm tree shaped island, which means if they want to they can make a digital currency and make it the top crypto currency in the world however for that to happen all of the country including really powerful and rich people should care about the project which I don't think will happen.

You are mentioning about digital currency which may not be a blockchain based nor cryptographically encrypted. In that case, this community had nothing to do with that. Moreover, a country specific digital currency will not have any big differences from their local fiats except only-on-internet-usage property.

Yes, I agree with you, Dubai has everything. and Dubai is perfect, it looks like Dubai's country wants to be a friendly country for the crypto world.

I see many projects from Dubai, even some projects have experienced teams and advisors.

and I see, the next is Iran or turkey that will create a digital currency.

We should get to the stage where governments and institutions should encourage and adopt cryptocurrencies. though this may have its cons but I think with some government participation should come with some regulations in cryptocurrency with will make for more adoption and growth

This is good news and it will help in increasing mass adoption of Cryptocurrency. Dubai has all what it takes to launch it and they will surely get it right because they have the money needed for the project.

Thanks for sharing this with us. Dubai is a forward looking country that are doing everything to be top of any technological innovations. There is a good probability for this coin to become means of exchange of good and services. As time goes on, we will see more countries and cities embarking on this kind of project.

I think many will follow them and then the market will grow. But such cryptocurrencies will have low volatility or even a stable coin as a type. The news came out that Usa senators imposed sanctions on Venezuela el petro cryptocurrency and in the same way they can add other coins there. In the end, this is very good news means popularization is on.

This is pretty good news considering Dubai is a country. that is rich enough and stared using cryptocurrency in their country. moreover this is fully supported by the government. we all know that Dubai is a rich country and has a large share in the trade sector.

If the news is true and officially stated from the country, I think it is a very great move. Actually, many more countries accept the crypto. I'm also sure that other countries may also be like those countries to accept the cryptocurrency. But, for now, my country still does not legalize and create own cryptocurrency.

good news in the red market it seems that crypto adoption is near in the future where it will be accepted by the governments and it will be the mean method of payments acroos the border

It is highly likely that today Dubai will be very profitable to use the Cretaceous, because today there can be made a free trade zone, but I do not think that they will agree, because the most important thing is how Islam will be related to cryptocurrency.

if this is really true news then this is great news because dubai is a very serious player in the global economic market

Great news, I think every country wants to get its own digital work, but considering that the state of Dubai is an oil rich country, it can guarantee profits in all areas because of its financial strength, I do not think the rest of the countries will follow Dubai

Wow it is a very great news for all, Dubai government approved this digital technology. Digital currency is a future in coming years. I hope in coming years all countries give permission to this technology because coming time is a digital time and every body like this technology.

Blockchain is widely distributed in UAE, and Dubai seeks to become the financial and technological center for the eastern world.

It is still in the making process. But if this happens, and it will be 100%, then it will change the cryptocurrency. this will contribute to cryptocurrency capitalization and then the market will improve

Well that's happy to hear but I don't think they will give much priority to this very soon because their main dream is to focus on expo 2020. They have very big business expectation on this expo still money plays a big role anything can happen.

exellent! Dubai seems always step ahead and im sure theyll come up with something really interesting. i guess that Singapore may create currency, Australia too. even those countries which bann it can change their minds

If Dubai has released its own digital currency, it's not impossible if neighboring countries or other countries will make digital currencies too. This is one of the good news, I hope it will bring progress and have a positive impact on cryptocurrency. Thank you for the news that you shared, at least made me know.

I think this is a good initiative. Even not such well-known coin as Dubaicoin has a good capitalization and is popular among investors and miners. This is a good project, worthy of investment.

Wow. Great for Dubai! Well.. they’ve always been an innovative and future-forward country anyway, so I’m not surprised. I’m sure they’ll set a standard for the rest of the world. I’m thinking, Japan will be next. Do you agree?

Dubai is the biggest and rich country in the world, my opinion when getting Dubai make digital currency is wonderful because they have many investor want to buy their digital asset, by created digital asset Dubai will be famous and know more close with crypto currency.

This is amazing news and will usher the next wave of boom for crypto as nation states begin using the blockchain technology.
Cryptocurrency is just one major application of blockchain. Lots of innovation that will properly utilize the blockchain will come out in the coming years.

This is a breakthrough in real cryptography. Using the downloaded application in the emPay wallet, users can make various payments via the NFC function. The main advantage of merchants is real-time payments and the absence of intermediaries. emCash, which is based on the blockchain technology, can be used to pay for a wide variety of goods and services, both public and commercial. Normally, this is a real cryptocurrency in one of the richest countries.

Dubai well done! Let's see what they can do. While some countries have fences to block other implement and develop.
But I couldn't find the coin's official website.

Will it be traded on the exchanges and will it be a stable coin?

Sounds like a plan, happy news for Dubai people's and I believe it will cover the entire UAE. This wonderful platform is useful for a change in future as a second investment. These days more countries are making crypto as legal as block chain technology is unique.

It will be useful for people living or visiting Dubai. I dont have plans to visit it in reasonable time, so this is totally useless coin for me.

wow, nice to know that! the more the better. i guess some countries like India. and i wish countries would cooperate n creating crypto, like it was with fiat, but now it crypto euro or crypto dollar

If that so, that would be a good news to everyone especially to those people are living by themselves or with family at all. Their are many countries open to everyone the cryptocurrencies it is because they have seen that it could be uses as different transaction at all.

oh, it's difficult to predict. China looks like participating, at least it becomes softer regarding crypto issue. great that Dubai joined the game, after all the yhave enough resourses to develop it

There are a number of countries trying to become the "Crypto capital of the world"
Korea, Switzerland, Russia, and Monaco are other ones that are actively making laws that encourage crypto development and investment.
Naturally, I would assume those countries would build their own currency.

I wonder how these "country currencies" will do though.
Standard economics says that it will just end up being hyper inflation with the currency eventually being worth nothing.
AFter all, you can't just make money out of thin air.
If they were backed by something, like they were pegged to the countries fiat, or something, then it woudl be more reliable.
Another thing to note, is that they would need the infrastructure to be able to use the crypto on a daily basis.
I wonder if they will develop it themselves or adopt an already existing platform?

How is the continuation of the digital currency launched by the country of Dubai? Has there been any news about this emCash currency? And to what extent is its potential, have many people been interested? Thank you.

The next county which will follow in this direction is not certain but i know many country are also interested in making use of blockchain technology we will know the country when the time arrives.

Op title is on spot but a lot of the replies talking as if this is a Cryptocurrency! Why people are cheering for this! What this will add to Crytpo space? A cryptocurrency that is not decentralized and not anonymous but the total opposite it is fully controlled and centralized by the government, this shouldn't be called Cryptocurrency, this is just a digital currency build on the blockchain, people really need to start to differ between the two things.

Venezuela, Dubai and Japan are countries that have far-reaching visions in the face of technological advances, especially in the economic field. In my opinion, in the future there will be another Arab country that will follow in the footsteps of Dubai, namely the UAE.

They are having vision to create their own crypto and i hope that will give a chance for cryptocurrency to create a combination with this regulator's crypto. But we are facing a lot of problem when the regulators wanna rule anything in the cryptocurrency. this has become a serious problem

Government cryptocurrency ?
Need to see the blockchain aspects of this coin, i am hope its not the fork of xrp

These countries are giving much benefit to the crypto community, the steps which Dubai want to take in the favour of crypto community will make this community more bigger and more people will know about this place and Bitcoin and will become a way to increase the price of Bitcoin.

Knowing that Dubai is a very advanced and highly developed city, the creation of its own coin there is likely, and this fact will positively affect the development of the crypto-currency industry and the universal acceptance of digital currencies. Hopefully other countries and major cities will follow suit.

It is wonderful. Indeed, in the country itself a lot of money. This would help the cryptocurrency world as a whole. We need high-quality projects and coins that will strengthen our economy. Thanks for the information.

Dubai always one of the advanced countries that adopted blockchain, but I don't know what is the benefits of emCash.

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This is nice. What the blockchain and cryptocurrency spheres need is time to stand its ground and gain the wide popularity and ease of use we are craving for.

i like this strategy, especially the fact that the main impulse comes from government itself. i wish it was like this with every country, instead of banning and fake gossip which only diminish cinfidence