the digital Dirham will be launched by the last quarter of 2025
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Dubai advances in the world of blockchain: the Dirham digitale will be launched by the last quarter of 2025. The Central Bank of the United Arab Emirates (CBUAE) has unveiled the new symbol of the national currency, both digital and physical. Dubai advances with blockchain: the digital Dirham will be issued by the last quarter of 2025 The Central Bank of the United Arab Emirates (CBUAE) has unveiled the new symbol of the Dirham. The national currency will be issued in its digital version by the last quarter of 2025, for the retail sector. According to what is reported, Dubai and UAE are ready to confirm their position as a leading global financial hub, utilizing a blockchain infrastructure. In fact, the CBUAE emphasized that the “Digital Dirham” is the digital version of the UAE’s national currency, characterized by high levels of security and efficiency, contributing to reducing payment costs thanks to the use of blockchain technology. Among its innovative features, the Digital Dirham facilitates tokenization, enhancing financial inclusion and efficiency and expanding access to liquidity through the fractionalization of digital assets. The digital Dirham is used with smart contract to program the execution of complex transactions automatically, adjusting them instantly. Such smart contract can also manage multi-stage and multi-party transactions, which involve conditions or obligations. Dubai and the Digital Dirham on the Way: the New Symbol Just Unveiled The new symbol of the Dirham, both digital and physical, embodies the initiative that showcases the progress of the program dedicated specifically to the digital version of the UAE national currency. Specifically, the letter “D” was chosen, derived from the English name of the Dirham, to serve as an international symbol. The symbol incorporates two horizontal lines that represent the stability of the currency and the country and are inspired by the…
Filed under: News - @ March 28, 2025 1:28 pm