The UAE Developed A Pricey Modern Postage Stamp Via Blockchain
In furtherance of its pledge to become the leading blockchain hub in the world, the United Arab Emirates has done it again. The UAE has announced its adoption of blockchain technology to develop the world’s most expensive postal system.
The new postage stamp is sponsored by the Emirati government and managed by the Emirate Posts Group for efficiency. The new development is coming in time for the 50th anniversary of the UAE foundation.
The UAE’s Expensive Postal System
According to the Emirate Posts Group, the modern postal stamp comes in four editions, each with its own collection. In addition, all physical stamps of the editions will have their digital version developed with blockchain technology.
Interestingly, the most expensive collection is “Golden Jubilee 2021.” The 2021 edition will consist of last year’s collectibles priced at $550. More importantly, the Emirates Post Group would add one gram of gold to every edition of the postal stamp.
Furthermore, the second postal stamp is named “Spirit of the Union – 1971.” This stamp will e used to show how the UAE came into being and the roles of its founding members.
The third stamp is called “Year of the 50th – 2021. The fourth of the collections will symbolize the future aspiration of the UAE, dubbed “Projects of the 50th – 2071.” It is worth noting that the last two editions depict the future of the UAE.
Moreover, three additional collections are part of the editions. These other editions are cheaper than the previous four and cost roughly $68 per postal stamp.
The latest development again brings to the fore the commitment of the UAE to the massive adoption of blockchain technology.
Abdullah Al Ashram, head of the Emirates Post Group, disclosed why the company chose to release digital postage stamps. According to Al Ashram, the company is influenced by the Founding Day celebration as the UAE prepares to celebrate the 50th anniversary of its creation.
Al Ashram added the postage stamps are open to all interested buyers worldwide.
UAE’s Increasing Blockchain Adoption
The new development is part of the broader strategy of the Gulf nation to expand the adoption of blockchain technology. As Al Ashram revealed, blockchain technology will become integral to Emirates Post Group’s further activities.
The UAE authorities have invested billions of dollars in the blockchain space over the last few years as they continue their pursuit of dominance.
As a regional power, the UAE will continue to seek international partners as it goes about its vision of making the region a force to reckon with. It also included its push to make the UAE a leading crypto hub following its partnership with Binance and other crypto companies.
The postage stamp launch has positioned the UAE as the leading blockchain hub in the Middle East. On the other hand, the Emirates Post Group is the first postage company in the Gulf region and North Africa to release such a postal product.