By using emCash it will be possible to pay utility and housing bills, as well as to pay for purchases in the stores in Dubai

emCash is the first cryptocurrency of Dubai. It is based on the blockchain technology and is equivalent to a UAE dirham. By using emCash it will be possible to make payments in stores, to pay utility bills and pay for education. The UAE regulators are planning to issue digital money in free circulation. The residents of the city will be able to pay for services and goods through special PoS-terminals. The Dubai Economic Development Department has entrusted the promotion of national virtual money to the emCredit credit bureau. emCredit, in its turn, will carry out the task in partnership with the payment card operator Pundi X and the EboocFintech& Loyalty Labs.

However, before reaching the end user, the entire emCash ecosystem must receive an official approval from the regulators. For this reason, the cryptocurrency system, the special applications for mobile devices and PoS-terminals will be thoroughly tested. It must be noted that the launch of widespread use of emCash successfully coincided with the implementation of the state program of the Ministry of Finance of Dubai, which is aimed at launching a payment blockchain platform that will unite more than 38 government agencies, financial organizations and other institutions.

Thus, Dubai will become the first city in the world to provide its residents with solutions based on the blockchain technologies in wide access. As the emCredit management pointed out, the new tools will provide the citizens with convenience and will ensure the safety of both buyers and sellers.