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Tag Archives: Dubai

Middle East Hub? Ripple to Set up an Office in Dubai by Year-End

Twitter Facebook LinkedIn Ripple has announced that it will be setting up an office in Dubai, United Arab Emirates before the close of 2018. Speaking during this year’s Global Islamic Economic Summit that was held in Dubai, Ripple’s global infrastructure innovation head, Dilip Rao, indicated that the focus of the fintech firm would be on cross-border payments. In his speech, ...

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XRP Price Retakes $0.45 Amid Ripple’s Dubai Expansion

Now that nearly all of the top cryptocurrencies are in the green again, traders and speculators breathe a sigh of relief. That is only normal, even though the overall bearish pressure has not officially relented just yet. In the case of XRP, the current momentum seems promising, as $0.45 has been reached once again. XRP Price Momentum Improves Again It ...

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Dubai Government-Backed Digital Currency Will Get Its Own Payment System

Consumers in Dubai will soon be able to use digital currency to pay for goods, services, and utilities following a new government partnership, a press release confirms Tuesday, Oct. 9. The deal between emcredit, a subsidiary of the Dubai Department of Economic Development, blockchain payment provider Pundi X, and its partner Ebooc Fintech & Loyalty Labs LLC will facilitate point ...

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Dubai to Launch Blockchain Payments with State Digital Currency ‘emCash’

Dubai residents will soon have the means to make payments for school fees, bills and other retail purchases with emCash, a state-developed blockchain-based digital currency. The UAE’s first official credit bureau – emCredit – under the Dubai Department of Economic Development is pushing its official blockchain-encrypted state digital currency emCash for wider adoption by rolling out point-of-sale (PoS) devices at ...

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Dubai Govt Upgrades Payment Portal DubaiPay with Blockchain technology

The Smart Dubai office, a government initiative led by the Crown Prince of Dubai, is integrating blockchain technology into its retail payments smartphone app DubaiPay, enabling reconciliation and settlement transactions in real-time. Developed in collaboration with Dubai’s Department of Finance (DoF), the Smart Dubai Office (SDO) launched the system on Sunday with a press release labeling it a “blockchain-powered upgrade ...

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Dubai Department of Finance Launches Blockchain-Based Payment System for UAE Gov’t

The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) to launch a blockchain-powered payment system. The news was reported on by a local news site Zawya, September 23. The new platform, called “Payment Reconciliation and Settlement,” was officially launched Sunday, September 23. It is reportedly geared towards government entities, such as the Dubai Police, Roads ...

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Dubai Police Warns Against Crypto Scams, Predicts Electronic Money Will Replace Cash

Dubai Police currently investigating a Dh 300 million ($81.7 million) international fraud case have issued a warning about the potential role of digital assets in terms of facilitating crime in the UAE. Speaking at a forum on Sunday September 16, Major-General Khalil Ibrahim Al Mansouri, assistant-commander of criminal investigation department (CID) at the Dubai Police warned that a lack of awareness ...

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Dubai Partners With Global Blockchain to Explore Blockchain Technology For Trade Finance

The city of Dubai is globally renowned for its residents’ luxurious lifestyle. The ultramodern architecture, mega shopping malls, and lively nightlife are just a few of the things that make it stand out. Even the cops in Dubai live in luxury, with their fleet of squad cars consisting of Bentleys, McLarens, and Lamborghinis. However, the city is also taking a ...

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Dubai Looks to Disrupt its Entire Legal System with ‘Court of the Blockchain’

The Dubai court system tasked to oversee all civil and commercial disputes involving financial transactions both domestically and internationally is turning to blockchain technology to “create the world’s first disruptive court”. The Dubai International Financial Center (DIFC) Courts has announced its plan “to create the world’s first Court of the Blockchain” in a partnership with the government’s Smart Dubai initiative ...

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