PundiX announces its partnership with the Government of Dubai to develop a digital payments system
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Answer PundiX announces its partnership with the Government of Dubai to develop a digital payments system
Today, PundiX announced its partnership with Emcredit – a company of the Ministry of Economic Development – with the aim of equipping shops, government institutions and schools with XPOS devices and allowing Dubai residents to use cryptocurrency in their daily lives.
Note that the PundiX project provides payment systems based on blockchain technology, allowing stores or institutions to buy, sell or accept many digital currencies to enable them to conduct their daily transactions using digital currencies.
The statement stated that the payment will be made through the digital currency emcash – a stable digital currency launched by Emcredit and equivalent to the UAE dirham -.Read:The first fork of the Zcash cryptocurrency mining reward…details here
Thus, soon Dubai residents will be able to make payments in digital currencies for government utility bills, tuition fees and other products in their daily lives.
“The introduction of blockchain-based payments in the government sector is a major development for the industry in general,” said Zak Shea, CEO of Project PundiX. He added: “We are very proud of this partnership and our ability to bring our technology to one of the greatest cities in the world, and this is a historic moment for the actual implementation of blockchain technology.”
Today’s announcement underscores Dubai’s position as a global hub for global innovation and will become the first global capital to provide citizens with the option to pay with digital currencies across industries.
In this, a spokesperson for Emcredit said: We are committed to developing the services we provide to our clients in accordance with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai.”
He added: “Being the first city in the world to offer payment solutions based on blockchain technology is an exciting moment for Dubai. This move confirms its status as an international center for technology. The deployment of modern technologies such as blockchain technology is a major priority for us to provide modern services to the residents of Dubai.”Read:Bitcoin Transactions Hit Historic Lows Despite Bullish Expectations…What Does That Mean?
It is expected that XPOS devices will be launched in Dubai gradually after today’s announcement, with the number of devices increasing continuously in the coming years.
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