Dubai Pushes Digital Currency Payments in the Country Using the Pundi X Technology

Dubai is one country which has embraced the blockchain revolution quite early. Dubai has been testing blockchain application across its range of industries, especially the real estate. Now in a further push to the digital currency economy, the Dubai government wants its citizens to make use of digital currencies to pay for different services, goods and other utilities.

Dubai’s Credit Bureau - emcredit has entered in a new partnership with blockchain payment provider Pundi X and its partner Ebooc Fintech & Loyalty Labs LLC to facilitate point-of-sale (PoS) payments in emcredit’s emcash digital currency.

According to the official press release , Ebooc will be providing PoS terminals for in-store payments, and Pundi X will help to roll-out over 100,000 such units globally over the next three years. As a result the Dubai consumers will be able to pay for other utilities, telecommunications, and school fees.

The XPOS devices by Pundi X will be installed at several shopfronts for the exclusive use of emcredit, a digital equivalent to UAE’s official currency, Dirham [AED]. An emcredit spokesperson was quoted saying "To be the world's first city to offer blockchain-based payment solutions to our residents is an exciting moment for Dubai. It confirms Dubai's status as an international tech hub. Deploying cutting-edge technology such as blockchain is a key priority and is delivering benefits to our citizens in the form of convenience and securities to customers and merchants across Dubai”.

Zac Cheah the CEO and co-founder of Pundi X also shared his views on this latest collaboration and digital currency projects. Cheah said: "Bringing blockchain-based payments technology into the government sphere is a major development for the technology. But to be able to bring it to one of the great cities of the world and the most advanced economy in the Middle East makes today an historic moment for the real-world application of a technology that has promised so much potential until now. We are very proud to partner with emcredit and to support its vision for supporting its customers through technological innovation”.