A Dubai company has claimed to have launched Dubai’s first cryptocurrency, with DubaiCoin (DBIX) now on the market.
The coin was launched by Arabian Chain Technology and they hope it will eventually be used to pay for goods and services across Dubai.
But despite being listed on their website, they’ve since claimed via Twitter that they haven’t launched DubaiCoin.
Arabian Chain claim is a ‘UAE based venture that is unlocking the potential of tomorrow’s economy by enabling today’s blockchain innovation.’
And they launched DubaiCoin to ‘make altcoins and btc more accessible to the Arab World.’ They are looking to set up an ‘online marketplace and payment gateway’ with a ‘variety of goods and services.’
Our advice: be very careful!
DMCC launches Crypto Centre for NFTs, Blockchain and more
The DMCC in Dubai has jumped on the NFT and Blockchain bandwagon by launching a specialist Crypto Centre.
The DMCC is the Dubai Multi Commodities Centre and its new space is dedicated solely to online business. Including cryptocurrencies, blockchain technology, and NFTs, nonfungible tokens which effectively let you purchase something online.
In other words: it’s an entire division dedicated to the future!
The centre will deal with all manner of crypto businesses. From blockchain platforms to those that offer, issue, list, and trade crypto assets.
Dubai is betting big on blockchain technology, essentially a more secure and open way of doing business online. Blockchain is also the technology that powers digital currencies including Bitcoin.
Dubai aims to have half of all ‘government transactions on a blockchain platform’ in the near future to ‘cement the UAE’s status as one of the world’s most advanced economies.’