It's official: Dubai embraces cryptocurrency

In an official press release issued by the Government of Dubai, they confirm the launching of emCash, an encrypted digital currency, which UAE residents will be able to use to pay all kind of services and products.

Look at the enthusiastic tone of the release in favour of blockchain technologies!

We're delighted to be working with EmCredit and Dubai Economy on the EmCash project. The fast paced environment and incredible willingness to adopt innovative technology has made Dubai the perfect place for us to do business. This project is a great example of the ambition we have met here, together we are essentially creating a whole new economic ecosystem. It will harness blockchain technology to make financial transactions, cheaper, faster and more secure while demonstrating the huge advantages of embracing this technology for governments, business and customers alike. This is a key step towards creating a truly connected city

Full press release, here: http://www.dubaided.ae/English/MediaCenter/Pages/PressReleasesDetails.aspx?ItemId=233