Dubai, The forefront of Blockchain technology and Cryptocurrencies

You have probably heard about Dubai, the city of the future come true and the buyers’ paradise. The city with the largest shopping center in the world, with even a city “made” of gold. The great city of Dubai, located in the United Arab Emirates.

Attraction of the City

Recently it get tourist boom, where 83% of its population are foreigners and the majority are tourists. A main area influences this exponential growth of the sector over time: Technology.

The city located between the desert and the Persian Gulf. Planning to innovate facilitating the transactions of all types of sales. Such as luxury goods, last model cars, for example; sites of bets, similar to the casinos in Las Vegas and means of transport.

So fast the consumers arrived, the investors worked faster, devising projects to improve the city, attracting hotel industries, private and commercial airlines to the public, famous events like Cirque du Soleil, artists and conferences of all kinds.

Thanks to its popularity and attraction, a circle of exponential growth in tourism was generated. Based on technological innovation that attracts more tourists and more investors, allowing us to innovate again.

This process can highlight qualities such as the City “made” of Gold, which is a sector of Dubai where everything that is sold is made of pure gold, only a few can enter due to the high associated cost.

The adaptation of Dubai with the Cryptocurrencies and Blockchain

Due to the culture of the city, the implementation, development and study of these areas was as fluid as adopting the use of the Internet. Its acceptance is among the best in the world, even giving statements by its leaders that Dubai will be the first real “Smart City”. Estimating that by 2020 the public services will be completely adapt Blockchain technology. Since research projects with companies were initiated private and public since 2015 approximately.

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In addition, it is among the first to launch its own cryptocurrency, known as “emCash”. Which can be easily used within the city. Recently a possible alliance was announced with the Central Bank of the United Arab Emirates to develop a payment system based on blockchain, using this currency as a research project.

Thanks to the high level of acceptance, many investors decided to invest here. As large companies which use isolated studies, observing their potentiality and decide to implement it in the world. An example of this is IBM, which uses as evidence headquarters for its Blockchain projects companies located in Dubai.

Among the most important the global event of investors of cryptocurrencies and the blockchain held in Dubai. Where any enthusiast and the best investors will meet. We are talking about the “World Blockchain Forum”, which if you want to know more about it, we invite you to know about it.

Bitcoin in the Market

One of the place that we can refer to Bitcoin as a payment method. Because Dubai is one of the few places in the world that it is possible to pay with it.

Mainly the sites that accept this cryptocurrency as an alternative of payment. Those are hotels, luxurious services and stores located in the commercial municipality of the city. It can be highlighted that residences or vehicles can also be purchased. But compared to the other transactions, these are overshined.

Future project in Dubai

In this zone, most analysts agree that the success of tourism is due to their long-term vision. The future to be fatser and appear to live in another time.

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While maintaining this objective, the future looks as bright as the City of Gold. With respect to the implementation of cryptocurrencies and block chain technology. Thanks to its ease in adapting, analysts believe that this city will be the one that demonstrates the effectiveness of using them. As a method of payment.

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