Dubai: Blockchain, Cryptocurrency, and What to Expect
Dubai government has founded an agency for the specific purpose of accelerating the adoption of new technologies. This agency, known as Dubai Future Foundation (http://www.dubaifuture.gov.ae/), has established a Blockchain Council of 46 members that include representatives from Microsoft, IBM, Etheruem, Kraken, and Dubai International Financial Center (DIFC) among others.
Furthermore, Dubai's Economic Development Department has revealed it's venture into blockchain by promising to create a centralized cryptocurrency, EMCASH, which is expected to be adopted by key government agencies before the year 2020.
Given the need for a well-governed technological incubation ground between Hong Kong and Silicon Valley, and with Dubai's recent strategic ties with flagship names in the fintech and banking sectors, I would expect the city to become the "Switzerland" of Internet Money.
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