Dubai’s government is to launch a cryptocurrency following a partnership between Emcredit, a subsidiary of Dubai’s Department for the Economy (also known as Dubai Economy) and a UK based blockchain start-up called Object Tech Grp.
The new “encrypted digital currency,” called emCash, will be based on the latest blockchain technology, Dubai’s economy department says in a statement, and will be usable through emPay, a wallet launched by Emcredit to support contactless payments.
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