A Cryptocurrency in Dubai That They can Call Their Own

 

The phenomenon that is the city of Dubai has become a global force to be reckoned with as Dubai aims to become “THE” city of the future, attracting tourism and business partnerships for all over the world. With this vision clearly in mind, Dubai has become a hub for the world’s latest and greatest technologies and state-of-the-art innovation. With talk around flying cars, a robotic police force, and the Hyperloop train, it only makes evolutionary sense that Dubai develop and implement the use of their very own cryptocurrency, EmCash.

Learn more about this here: https://www.smartbitcoininvestments.com/buy-bitcoin-in-dubai/

Learn about the Cryptocurrency in Dibai that they are starting

EmCash! Dubai’s own National Digital Currency

EmCash has been founded on the latest blockchain technology and has been launched by Emcredit, aiding the support of contactless payments. EmCash will allow residents of the UAE to make their daily payment using EmCash, and can pay for anything form their morning coffee, right up to their children’s school fees and utility charges. The joy here lies in the instant transaction speed that benefits both consumers and merchants, sending and receiving payments in real-time, without making use of an intermediary.

The government of Dubai has become joint partners with the city’s Accelerator Initiative to bring forth the creation of the regions first, and very own encrypted digital currency, complete with its own blockchain. EmCash works as part of the emWallet payment system, enabling the many different digital forms of payment. EmCash makes use of the nearfield communication (NFC) function available on supported smartphones to enable its contactless payment system. “Blockchain as a Service” is the additional of blockchain technology that allows the use blockchain in different projects.

According to the Deputy Director General of the Dubai Economy, Ali Ibrahim, the introduction of this cryptocurrency comes with the advantages of faster processing and improved delivery time, involving less cost and complexity than more traditional routes. Moreover, EmCash is going to change the way people live and do business within the region of Dubai, harnessing this game-changing technology to ease and improve the overall quality of life.

How EmCash Works

Every citizen in the UAE will be given access to the emWallet via their smartphones, and will be given the choice of two options when wanting to make a payment. Payments can be made using a regular dirham payment, or payment through the choice of EmCash. Payments made using dirham will be subject to the regular processing and costs of transacting, while choosing to pay using EmCash are send and received in real-time. Additionally, merchants will save on the transaction fees that would usually be paid to the intermediaries being used.

Paying with EmCash is another way of reducing fraud and fighting inflationary pressures, since the currency that is being issued is done so in real-time and is based on the actual demand. The blockchain set-up of EmCash allows for the use f shared ledgers, and is done so that control over payments is not limited to any one single member of the emPay ecosystem and that transactions are recorded instantaneously.

Dubai – The Blockchain Haven

With Dubai aiming to be the city of the future, their aims include that the city be the first in the world to build its economy that functions on a blockchain. The enormous potential that has been recognized by the government of the city of Dubai, through the use of digital currencies and blockchain technology, is responsible for the encouragement of innovation that is entering the region. Private and government organization workshops have been arranged, to develop and enhance the services that are already on offer through the use of blockchain technologies, positively impacting both the public, and private sectors. The development of a city-wide blockchain payment system is already underway, incorporating government entities, financial institutions, and other city departments, that are connected via a single blockchain payment platform.

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EmCash and the city of Dubai is a partnership that is going to change the lay of the land in its entirety. The introduction of the first economy striving for digital currency independence, and a wholly-run digital society is what the city of the future is well on its way to achieving.

Is Coinbase Safe for Cryptocurrency?

When it comes to your money, security is the number one priority. Keeping your money safe and secure, behind lock and key, is fast becoming a thing of the past. Cryptocurrency is fast becoming the new gold standard, and the cyber security around trading and safeguarding your investment is not something that is taken lightly. Insurance, personal account security, anti-theft, and hacking prevention are all measures than need to be in place to ensure your money is in the safest net on the web. In this review we are going to take a closer look at Coinbase, reviewing the safety and security measures that they offer their investors.

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Learn if Coinbase is safe and secure for your Bitcoin and other digital currency

Legitimacy of Coinbase

Coinbase is the largest Bitcoin exchange platform in the world today, and as of last year has been available in more than 30 countries across the globe. Backed by a host of wealth and trustworthy investors, including Reddit co-owner Alexiz Ohanian, the Bank of Tokyo, Digital Currency Group, and Blockchain Capital, Coinbase’s support is undeniable.

Operating within the United States, Coinbase is subject to adhere to certain rules and regulations, as well as regulatory bodies, to ensure the company:

  • Complies with the Bank Secrecy Act
  • Complies with the USA Patriot Act
  • Complies with the state money transmission laws and regulations
  • Is registered as a Money Services Business with FinCEN

Although these laws and regulations serve to supervise Coinbase while conducting business within the United States, none of the other countries where Coinbase operates requires these regulations.

Personal Account Security

Coinbase has a number of security check and options to safeguard their user’s personal account from unauthorized access or similar security breaches. A strong and unique password is highly recommended as well. Activity on a user’s account can also be tracked, and the user notified, whenever a new device or IP address attempts to gain access to the account.

Coinbase makes use of multiple 2-factor authentication methods to help make accounts more secure. The most basic being an SMS text option, creating the double layer security feature. Read more about Coinbase and security here.

Keeping Your Funds Safe

Keeping customer funds and company operational funds separate is the key here, and Coinbase does just that. Safeguarding their customer’s money in custodial bank accounts, ensuring their money is safe, even if Coinbase happens to become insolvent.

Coinbase claims that, “Even if Coinbase becomes insolvent, the funds held in custodial bank accounts could not be claimed by Coinbase or its creditors. The funds held in those accounts would be returnable to Coinbase’s customers.”

The vast majority (98%) of Coinbase customers’ cryptocurrency is stored in secure offline cold storage, stored on both paper and multiple hardware wallets. Physical cryptocurrency wallets are then moved and stored in safety deposit boxes and vaults around the world. This is a physical protection measure employed to prevent the funds being lost or stolen through hacking. The remaining 2% of the cryptocurrency is then stored online, and is fully insured by a syndicate of the banking giants Lloyd’s of London.

U.S. residents earn a little extra protection. Those making use of CoinBase’s USD wallet are covered for an additional maximum of $250,000, insured and covered by the FDIC.

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Be Careful Where You Send Funds

It is known that in the past Coinbase has applied certain restrictions on the allowed activity of users. Coinbase is known to track where their cryptocurrency is being sent and by which users, and has shut down accounts for certain purchases, including: sending cryptocurrency to gambling sites, send cryptocurrency to local bitcoins, and for making cryptocurrency purchases from the darknet.

From what you have read it should be quite clear that any cryptocurrency that you may have is going to be 100% safe and secure, and insured against any possible insolvency that Coinbase may face in the future. Their multiple 2-factor authentication methods add extra layers of personal protection, and offers great peace of mind when buying, storing, or exchanging cryptocurrency.

Cryptocurrency Dubai Investing

Cryptocurrency is one of the hottest things around. Everyone wants to get into the game but the majority of people have no idea how to enter. Even those who have had trading experience using the stock market or the futures market might not necessarily understand the proper ways to get into Cryptocurrency. One major problem that they often have is that they know very little about it. They have no idea about the underlying products, they don’t understand how the markets move but the only thing that he no is that a lot of people have made a lot of money and that it is very volatile.
Learn more about Cryptocurrency Dubai Investing and make money today.

Consider the Risks

Like any type of investment there is some type of risk involved, with Cryptocurrency is a very volatile market. For people who got interested based on the last few months they probably have seen a lot of things going on in the Cryptocurrency market. They saw everything reaching the ultimate high and then slowly selling off over the last few months only to regain partially in the last few weeks. For some people this might scare them away but for others they know that this is the type of market that they can make money either short-term or via long-term investment. Check out https://www.smartbitcoininvestments.com/buy-bitcoin-in-dubai. There is some great information about the current state of the markets and why you should invest.

Why Dubai?

No matter what your interest is and Cryptocurrency one of the best countries to look to is Dubai. Some of the biggest heavyweights in the investment arena call this country their home. They do this for many different reasons. They do this because is a great country to live in, there’s a lot of luxury amenities and is a great place to travel. Business people from all over the world come here so is a great place to network as well. For people who are living in this country who want to get involved and Cryptocurrency, they really need to understand the laws of their particular country to make sure that they are within the guidelines of the finding that information is not that difficult with the Internet and typically it’s just a click away understanding the rules and regulations of your particular country and  if this is something that you will be able to do. So the very first step for many people is to look into the laws of their land to make sure that they understand all the legalities of trading and investing in Cryptocurrency. There have been countries around the world who have made it illegal but for the majority of countries in the world it is perfectly legal to do.

So spend time learning more about the Cryptocurrency market, understanding how it trades, understanding your role within it, understanding the fundamentals of it and why it is so important and concurrently learning the laws of your particular country to figure out if it is something that you can legally do. Putting all of this together and if it is legal to do in your particular country you be well suited to make money in the future and the present as the prices of Cryptocurrency goes up and down allowing many different opportunities.