ArabianChain Technology, developer of the Arab world’s first public blockchain is positioning itself as a regional leader as more Middle East entities begin to comprehend the scope of the opportunity that exists in blockchain technology. Blockchain, the technology that makes Bitcoin and other digital currencies possible, is changing the way governments, business and individuals interact.
“This is an exciting time for us as we strive to make ArabianChain an ambassador of blockchain technology to the region,” said Alsehli. “We hope that DubaiCoin DBIX and our new blockchain platform will pave the way for cryptocurrency and alternative investment opportunities.”
ArabianChain Technology, said it will conduct an exchange of DubaiCoin, its peer-to-peer digital currency, to position the coin as the region’s predominant digital currency.
The original function of DubaiCoin DBIC was as a currency, he said. The new DBIX can also represent a currency as well as shares in a company, a vote in an election, the identity of a person or an asset. DBIX also fuels ArabianChain’s cloud computing platform and can be used to construct decentralized applications and smart contracts that operate on the ArabianChain network. “The new DBIX is more valuable than the old DBIC,” said Alsehli. “The swap rate will reflect the difference in value and utility.”
The swap will occur on Livecoin.net on March 18, 2017. Users will need to create a Livecoin account because holders of DubaiCoin-DBlC will receive DubaiCoin-DBIX based on their DBIC balance in their Livecoin account with conversion rate of 10 DBIC for one DBIX.
ArabianChain was founded by Mohammed Alsehli, Messaoudi Walid and partners,ArabianChain seeks to connect the Arab world to blockchain technology and digital currencies, including ArabianChain’s Dubai Coin, DBIX. ArabianChain’s inspires business innovation through the use of secure, decentralized and universally accessible applications and services.