It claims to be the first public blockchain based cryptocurrency in the Arabic world. The company said in a statement that DubaiCoin will be expanded for wide range of products and services and it could replace the traditional bank-backed currencies. “Circulation of the new digital currency will be controlled by both the city itself and authorized brokers,” the company said. The story started with a fake press release on May 24, published in the name of Arabianchain Technology, on PR Newswire. ArabianChain Technology, consensus driven blockchain was a legitimate blockchain firm based in Dubai. The fake press release claimed that Dubai was making its official cryptocurrency or traditional bank-backed currencies.

The official Dubai Media Office has tweeted that the digital token website is conducting a phishing operation to steal personal information. As with any beta release, now is the time for extensive testing to identify anything that needs to be tweaked before general release later this month. In particular, I request close attention to some of the features that were merged immediately prior my cutting this beta release — in particular, the serials prediction revamp and the MARC modification templates feature.

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DubaiCoin circulation will be controlled by the city & authorized brokers, and it can be used to pay for goods and services in Dubai. It is still not clear how many investors were duped into buying the fake de-facto cryptocurrency from cryptocurrency bloom token price exchanges or authorised brokers. However the trading volume of the real Dubaicoin was around $592,000 in the last 24 hours, according to data from Dubai Electronic Security Centre which monitors all the crypto currency activities in Dubai.

• DubaiCoin circulation will be controlled by the city & authorized brokers, and it can be used to pay for goods and services in Dubai.
• Dubai coin has boosted from $0.0845 to $1.2 before facing a short correction leading the price back to $1.13.
• It is not clear if the DubaiCoin seeks to be a replacement for central bank digital currency alongside the national currency Dirham.
• Even though DBIX is yet to be get listed on any exchange or get an official nor has not obtained sanction by any official body, and this fact has been confirmed by the city of Dubai.
• The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors.

Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Use the digital currency list to view price changes, market cap and volumes across each Cryptocurrency. Dubai coin has boosted from $0.0845 to $1.2 before facing a short correction leading the price back to $1.13. The coin price still trades under a bullish sentiment as the uptrend continues with no significant falling action in the scene. The percentage growth of the coin is still above 1000% with a market cap of $4.84M.

Relief Fund had recently set up an entity in Dubai to convert the cryptocurrency it received to fiat currencies. Support for schema.org microdata in the OPAC to increase the visibility of your catalog to search engines. The ability to define rules for batch-modifying MARC records during import. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider.

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The website promoting the coin is elaborate phishing campaign designed to steal personal information from its visitors. However specific facts have not been cleared by the company when it said that the city of Dubai would be regulating DBIX price. It is not clear if the DubaiCoin seeks to be a replacement for central bank digital currency alongside the national currency Dirham. If it is true, the crypto money will enjoy a fair bit of stability since Dirham is always stable against the USD.

The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors. It did not stop there, and the fake press release claimed that Dubai coin cryptocurrency would become the official digital currency. It is akin to official digital currency or traditional bank-backed currencies in many countries like China, India and the US. The upcoming digital coin is available for sale at a starting price of$0.17 per coin via a website called dub-pay. DBIX was launched by United Arab Emirates based company Arabianchain Technology.

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The trading activity in the coin as per the intraday volume of $591,863.24 is pretty impressive. The website promoting the coin has now become inaccessible, but a record on Internet Archive revealed that the website had detailed how investors can buy DubaiCoin. After furnishing details such as name, email address, and phone number on a form, an agent will contact the investor and help change their local money to DubaiCoin . Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Even though DBIX is yet to be get listed on any exchange or get an official nor has not obtained sanction by any official body, and this fact has been confirmed by the city of Dubai.

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Cataloging improvements including the ability to import authority record via Z39.50, the ability to merge authority records, and the ability to save and continue editing bib records. It went under consolidation between $0.505-$0.519 before restarting the bull run. Investors can ride the trend if they believe in the growth of 1st ever cryptocoin of Dubai. However, Investors must be cautious with the possibility of huge dips in the coin price. Dubai has one of the most investor-friendly environments in the world and is also a haven for cryptocurrencies traders.

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The DubaiCoin story, which was all over the press, turned out to be a scam. The Dubai Government in a statement said that DBIX was never given an official status. The Dubai Media office – the official arm of Dubai government – in a tweet clarified that the cryptocurrency was never approved by any official authority.

To give more credence, the fake press release, which has since been unpublished, claimed that Dubaicoin circulation would be controlled by both the city itself and authorized brokers. Launched by United Arab Emirates based company Arabianchain Technology, DubaiCoin was dubbed to be the first publicblockchainbased cryptocurrency https://cryptolisting.org/ in the Arabic world. DubaiCoin is country’s very own crypto marketcap has risen by 1000% in the last 24 hours. The cryptocurrency is based on Arabchain technology, which is touted as the first blockchain in the Arab world. DBIX cryptocurrency can be compared to the Digital Yuan, which China will release.