Is Dubai launching its own cryptocurrency?

The city of Dubai seems to have launched its own cryptocurrency, called the DubaiCoin (DBIX). It is based on a public blockchain, meaning people will be able to generate their own DBIX by mining them.

Is dubaicoin the first public blockchain in the Arabic world?

The cryptocurrency was launched by Arabchain Technology, which claims to be the first public blockchain in the Arabic world. Dubaicoin’s price rose by over 1000% over the past 24 hours.

Is Dubai the 'city of digital gold'?

Dubai is already dubbed as ‘the city of gold,’ Dubai could be ‘the city of digital gold’ in the future as well. The United Arab Emirates is proactive in the crypto space. Arabian Chain Technologies and their coin DubaiCoin are not the only projects based in this country.

What is dubaicoin and how to use it in Dubai?

Dubaicoin can be used to pay for goods and services in Dubai and the circulation of DubaiCoin will be controlled by the city & authorized brokers. However, the city of Dubai has clarified that the digital currency has not been sanctioned by an official body.