United Arab Emirates government, in the city of Dubai, has recently unveiled a plan to launch their own cryptocurrency called “emCash”. emCash will be based on a blockchain and will allow paying for various services, including those provided by the government. Citizens will be able to access it through a digital wallet called emwallet on their smartphones.
Muna Al Qassab, CEO of Emcredit Limited said: “The fast paced environment and incredible willingness to adopt innovative technology has made Dubai the perfect place for us to do business. This project is a great example of the ambition we have met here, together we are essentially creating a whole new economic ecosystem.”