Another day, another cryptocurrency. But this time the city that is living and breathing dollars. The city of Dubai just announced that they now have their own own cryptocurrency, thanks to the partnership with Accelerator Initiative. They call it emCash and runs on its own instance of blockchain and aims to address their financial transactions.
Emcredit also wrote: “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 with a near-field communication (NFC) support through a smartphone.”
Although they are not the first. It is for sure a big step for the “City of Future”.
We can’t wait for more news from that part of the earth.