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United Arab Emirates Emirates Airline Ready to Use ‘Bitcoin as Payment Service’

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VOC, Voice of crypto, Bitcoin, Crypto

The United Arab Emirates (UAE) based airline, Emirates, is planning to start using Bitcoin as a payment service. The company has not yet released an official statement, but according to reports, they are in the final stages of testing and will be starting to use it in the near future. This is a massive development for the cryptocurrency world and could pave the way for other airlines and businesses to start accepting Bitcoin payments as well.

The United Arab Emirates has ambitious plans to use cutting-edge digital technologies such as blockchain, metaverse, and cryptocurrency in their national airline. This will enable them faster ways of engaging with customers and more flexible ones!

The Chief Operating Officer for Emirates, Adel Ahmed Al-Redha has said that they plan on employing Bitcoin as a payment service and simultaneously introducing nonfungible tokens (or NFTs) which can be traded online. He made these remarks while attending this year’s Arabian Travel Market, where Arab News reported him. He also discussed the airline’s plans to use blockchain in order to track their planes.

Al-Redha also announced that the airline headquartered in Dubai is looking to hire new staff for metaverse and NFTs, with an effort to develop applications that will monitor customer needs.

“NFTs and metaverse are two different applications and approaches,” he said.

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This is a very positive development for the cryptocurrency industry struggling to find mainstream adoption. If a major airline like Emirates starts using Bitcoin as a payment service, it could encourage other businesses in the travel industry to do the same.

Metaverse: The future

The CEO of the emirate said:

“With the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive,”

The airline industry has been through a tough time, but Al-Redha is confident that it now lies on the path to recovery, with more people traveling than ever before.

The airline industry is thriving, with more and more people flying every day. 

The number of passengers has increased steadily over the past few years- a clear indication that Al-Redha’s comments were accurate!

However, he said that the accessibility of resources throughout their network is what poses the most significant obstacle. However, they are in a better position because this country has an extensive range for those who want to use it, which gives them more opportunities than other countries might offer.

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UAE’s Crypto Adoption

The United Arab Emirates has been at the forefront of crypto adoption, with a number of initiatives being launched in recent years to promote the use of digital currencies.

There is a clear regulatory framework in which digital asset companies can operate in Dubai. This has attracted many crypto exchanges and appears to be opening the door for more traditional businesses that embrace cryptocurrency. 

In 2018, the UAE’s central bank announced that it was working on a digital currency called ‘Aber’, which would be used for interbank settlements.

And last year, the Dubai International Airport launched a ‘cryptocurrency point of sale’ service that allows passengers to buy goods and services with Bitcoin, Ethereum, and Litecoin.

Emirates Airlines is just the latest in a long line of businesses and organizations in the UAE embracing cryptocurrency and blockchain technology.

 

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Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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