The city of Dubai seems to have launched its own cryptocurrency, called the DubaiCoin (DBIX). It is based on a public blockchain, meaning people will be able to generate their own DBIX by mining them. The price of the coin rose by over 1000% over the past 24 hours, according to Crypto.com. It was trading at around $1.13 at around 4 pm IST on May 27, up from an original price of $0.17
Dubai’s first cryptocurrency, DubaiCoin, has risen over 1000%
