Dubai is launching its digital currency called DubaiCoin with a starting price of $ 0.17 per coin. Consumers can use DubaiCoin to pay for goods and services both online and offline, the official statement said. It is assumed that the crypto coin will be used instead of conventional paper money. The circulation of DubaiCoin will be monitored by the city itself as well as authorized brokers.
Kyiv. Ukraine. Ukraine Gate – May 25, 2021 – Technology
It is reported that Dubai “plans to go even further in its quest to play an important role in the future of global finance and trade.” His plans for the next few years focus on DubaiCoin and aims to become the world’s first blockchain-based government.
More and more merchants and service providers are adopting digital technologies in an attempt to attract new buyers. CBDC is one of the innovative payment instruments that a number of countries are actively developing, and this is facilitated, among other things, by the excitement in the cryptocurrency market.
South Korea’s central bank has announced plans to conduct a mock test of the functionality of its own digital currency. The main goal of the experiment is to test how an adequate substitute for conventional money is CBDC when transferring and receiving funds by commercial firms. Testing will run from August 2021 to June 2022.
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Source: Ukrgate
