Updated: Mar 5, 2020
By Djougwa Kouemo
Cryptocurrency is a set to be the currency of the future as a digital asset that is designed to work as a medium exchange that utilizes strong cryptocurrency to assure financial transaction, rule the building of additional units, and confirm the transfer of assets. It is just a matter of time for it to come to realisation. The beginnings are already really promising, though there remain much work to be done to render it stronger and more profitable.
Globalizing cryptocurrency is a good idea from the currency perspective. Though not everyone shares the same ideas, but the few that do share the idea that globalizing cryptocurrency is a good idea, do that from personal perspectives and encounters they have had while dealing with cryptocurrency. It gives more of stable currency that breaks all levels of discrimination restriction, low capital flow that other currencies are suffering from, with cryptocurrency is all the opposite of it.
There are countries who have gone ahead to give more power and light to cryptocurrency. This is the case with UAE. Like other countries, notably Singapore, they are passing policies to render it free. This is especially the case with UAE. The United Arab Emirates and especially Dubai are taking in to consideration to take cryptocurrencies, bitcoin as a part of their smart Dubai 2020 initiative as they do call it. More so to give it more consideration, the future of cryptocurrency is seen from the establishment of a Global Block chain council which is done under the Dubai’s government supervision.
Seeing this initiative carried out by Singapore and Dubai, just to mention the few that have taken this step forward, it is worth notifying the relevance cryptocurrency has to play in their economy and society, reason why they have taken such a significant step forward with the full support of the government.
It is worth saying that mentioning Dubai and Singapore does not mean other countries are not also taking measures as regarding cryptocurrencies, they do so with each imposing its own rules and regulations in order to render cryptocurrencies more secure and open to all.