Dubai To Unveil Their Latest Development In The Crypto Industry

BitPado Dubai continues to embrace blockchain technology through the latest addition to its available exchanges called BitPado. According to Arabian Business, the exchange is founded by Omar Kassim, who made his mark in the e-commerce world with his online market called as JadoPado. The business was later sold and BitPado is now Kassim’s latest venture. The platform describes itself as being the “the next crypto exchange and OTC market for the Middle East, Africa, and Asia”, and will trade in top virtual currencies like Bitcoin, Ethereum, and Ripple. Blockchain For The Win Kassim is strong on the blockchain bandwagon as he is also working on another project which is an international real estate management service, operating on the blockchain network known as Esanjo. While working on Esanjo he understood the current issues of the crypto industry in the country which resulted in a gap with the market. Kassim explained: “We’re seeing problems around understanding and supplier acceptance in the crypto space right now. With our previous experiences and network in the region, we thought we could solve those issues together and bring a new product to the market.” So far Kassim has not revealed the details of the investors besides Esanjo. Palmex Just last week, Arabian Business reported on another new Dubai-based exchange: Palmex. It is launched by a Blockchain based start-up called ArabianChain and trades in some of the usual cryptocurrencies along with their own virtual currency called “DubaiCoin” According to Mohammed Alsehli, the CEO of ArabianChain, this is the best time to launch new trading platforms. “The demand for issue and trade digital assets has grown exponentially with the exceptional surge in the evaluation of cryptocurrencies like Bitcoin and the rapid development of blockchain technology. The regional market is fully grown and hungry for a user-friendly platform that makes it possible for them to buy and sell in a secure environment.” Alsehli also highlighted in a conference the benefits of a local exchange for traders based in the Middle East: “It adds an element of trust when you have a legal entity or a company and face in your region where you can actually reach and approach.” EmCash- Dubai’s First Official State Cryptocurrency Dubai has also shown their interest in creating and issuing their own controlled digital currency, emCash. This is a trend that seems to be growing this year as Sweden also recently announced its plans to launch their own currency called e-Krona. Source: http://www.unkrypted.com/dubai-latest-development-in-crypto-industry/