Press Releases
By Sydney TheCMO
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Dubai just announced the launch of its own digital currency known as DubaiCoin (DBIX), demonstrating its resolve and ability to rapidly adopt new and innovative technologies.
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DubaiCoin was created by UAE –based Arabian Chain Technologies which has an ambitious goal of integrating cryptocurrencies into the region’s trade and finance industries.
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Arabian Chain Technologies hopes that the cryptocurrency will soon be used as a medium of exchange for goods and services in Dubai and perhaps the entire UAE in the future.
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The UAE is one of the most popular havens for cryptocurrency billionaires thanks to the country’s soft approach to digital currencies.
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The electrification agenda means fossil fuels will soon be phased out in favor of renewable energy sources.
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Crypto haven status provides a unique ability to attract crypto billionaires and millionaires at a time when other countries are pushing more restrictions and anti-crypto laws.
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DubaiCoin is a challenge to governments across the world
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Although DBIX is not a CBDC, its significance should not be understated. The fact that its supply will be controlled by Dubai City means it has received government support.
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Governments will soon realize that digital currencies are the future of finance thanks to the notable benefits that they offer over fiat money.
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Dubai’s new digital currency further enforces the notion that the world is at a tipping point not just for the energy industry but also the financial industry.
The Currency Analytics
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