According to local media, Dubai has officially launched its own crypto currency called emCash. Crypto currency will be used to pay for both public and private services.

According to Ali Ibrahim, Deputy Director General for Economics of Dubai, the token will be considered a legal tender for various kinds of state and non-public services, starting with paying coffee and teaching children in school and ending with payment for utilities. Also emCash will be used as money transfers.

Dubai uses block technology In terms of flexibility and convenience, crypto-currency, the decision of the country's authorities to issue emCash will be economically beneficial for Dubai. The government supports the blockade, viewing it as a progressive tool that can change the world, and striving to adhere to the leading positions on the introduction of this technology. According to Ibrahim:.

"The rapidly developing environment and the incredible desire to introduce innovative technologies have made Dubai an ideal place to do business. This project has become an excellent opportunity to translate our ambitions and plans to create an entirely new economic ecosystem.

It will use blocking technology to make financial transactions cheaper, faster and safer, while demonstrating the great benefits of using this technology for governments, businesses and customers ".

The technology of blocking, as a system for a number of different services, is widespread in the country. Dubai seeks to become a fintech center for the eastern world. This is confirmed by recent deals on real estate sales for bitcoins. And the introduction of a new crypto currency will only contribute to the development and promotion of the country in the fintech industry.