Blockchain payments provider Pundi X has partnered with UAE’s official government credit bureau emcredit and its regional distribution partners ebooc, and also loyalty labs, to bring digital payment services to the public sector in Dubai. The company emcredit, also a subsidiary of the government of Dubai, has brought forth the initiative to enable consumers in Dubai to pay bills, schools fees and make utility payments using digital currencies.
These payments will be offered on emcash – a digital currency platform for Dubai, launched by emcredit. This serves as a moment of great importance in the global adoption of blockchain, especially in the Middle Eastern demographic. The news was shared in a Twitter post by CEO and co-founder of Pundi X, Zac Cheah that said:
We are pleased to announce that we will bring digital payment to the public sectors in the
#UAE through our partnership with #ebooc and #emcredit, Dubai’s Credit Bureau.
Dubai is gradually moving into the blockchain folklore and is becoming an important stakeholder in the future economy. Initiatives such as the Smart Dubai Mandate and Dubai Blockchain Strategy are not just ideas, as recent developments such as this show.
Pundi X, a partner in this historic setup also shared the importance of Dubai’s status as a leader in the blockchain led economy. The platform said while talking to BlockPublisher:
Today’s announcement shows that these [Smart Dubai Mandate and Dubai Blockchain Strategy] are more than concepts to Dubai. By becoming the first global capital to offer digital currency payments on the blockchain it has established that it is leading the region and the world in the application of blockchain concepts to the real world.
The digital payments will be made via a purpose-built Pundi X POS device that is designed for ebooc, fintech and loyalty labs. It will be exclusively used for emcredit to enhance its stability as a digital equivalent of the UAE Dirham. All stakeholders involved in this partnership share the vision of providing blockchain applications to the public sector and the initiative taken by emcredit and the UAE government provides it reality. Pundi X further stated:
Blockchain’s application to the public sector has long been theorized but emCredit and the government are taking steps to make it a reality with major benefits for consumers and the broader economy.
Zac Cheah also shared the sentiment that bringing blockchain-centered payments into the government’s working sphere is a major coup for the development of this technology. Pundi X is a platform committed to blockchain development in order to provide token services at any physical store in the world. They verified the importance of this announcement by stating:
Bringing blockchain to the public sector in this way is an historic moment.
XPOS devices are expected to be rolled out into the market following the deal made, whose full announcement can be found here.