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Free Bitcoin 2020 Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money. Free Bitcoin 2020 What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency. Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets. Bitcoins in its pure essence is money. It is digital curren

Dubai Government Licensing Entity Now Accepts Bitcoin for Payments

Dubai Government Licensing Entity Now Accepts Bitcoin for Payments

A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports.

Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas.

The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can now be made in bitcoin (BTC), the Gulf News reported on Feb. 16.

Tasawar Ulhaq, chief executive officer of Kiklabb, said the decision was made in response to a “growing interest in cryptocurrency with several customers in blockchain and fintech (financial technology) sectors.”

He noted that crypto-based payments allowed for more accessibility for global entrepreneurs looking to start a business in the UAE. “It really was just a matter of time before we recognized bitcoin, ethereum, and tether. Cryptocurrencies are the payment method of the future,” said Ulhaq.

Kiklabb worked with unnamed “international partners for payment processing of cryptocurrency transactions.” The CEO believes other government departments will follow in his footsteps.

“We’re the first government owned licensing entity in the UAE to accept cryptocurrency payments – and certainly not the last. With the technology rapidly gaining traction across the Middle East, I’m eager to see how it changes the way we do business in the near future,” Ulhaq stated.

The UAE is planning to use blockchain technology for 50% of government transactions this year. The Dubai Future Foundation estimates that the country could save more than $3 billion through blockchain and cryptocurrency use, per the Gulf News report.

What do you think about Kiklabb’s move to accept cryptocurrency payments? Let us know in the comments section below.



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