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Arabian Chain Technology: Dubai Launches Its Own Cryptocurrency, Set to Become the City's De-Facto Digital Currency

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2021-05-26 14:30:13

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DUBAI , May 24, 2021 /PRNewswire/ -- Cryptocurrency is a hot topic right now. Over the last twelve months, Bitcoin has risen once again, soaring beyond $10,000 , and hitting heights of more than $60,000 . Dogecoin, a currency originally intended to be a digital joke, is also rising; once worth less than a fraction of a cent, it recently hit a high of $0.41 .

With nations all across the globe, including superpowers like the United States and China looking to develop their own currency and get ahead of the rising surge of interest in digital transactions, it's no surprise to hear that Dubai , dubbed the "City of Gold" is also fixed on making its own digital currency.

Transformed from a sleepy Gulf port into a buzzing hub of business and extravagance in a single generation, the stunning Emirates city has plans to go further in its push to play an increasingly important role in the future of global finance and trade, and its plans for the next several years are firmly focused on DubaiCoin and the goal of becoming the world's first blockchain-powered government.