UAE uses blockchain to release the most expensive modern postage stamp

Updated: 17 June 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The United Arab Emirates has been at the forefront in adopting blockchain and ensuring that the region embraces crypto innovation. The UAE has now tapped into blockchain for a modern postage stamp.

The collectibles have been released through the Emirates Post Group. This is a government-owned post office that will be behind the most expensive modern postage stamp. The stamp will be used to celebrate the country’s 50^th anniversary of its Foundation Day.

UAE’s most expensive modern postage stamp

Emirates Post Group has released the first edition of the modern postage stamp with four editions. Every physical stamp in this collection will come with a digital version that has been created through blockchain technology.

The most expensive edition in this collection is known as the “Golden Jubilee 2021. This edition will comprise 2021 collectibles that will cost 2021 AED, equivalent to $550. Every stamp will be accompanied by one gram of gold.

Buy Bitcoin Now

Your capital is at risk.

The other stamp is dubbed the “Spirit of the Union – 1971.” The stamp will be used to symbolize how the UAE came to be, and the role played by the country’s founding fathers.

The third stamp is known as the “Year of the 50^th – 2021”, while the fourth is known as “Projects of the 50^th 2071.” These two stamps are a symbol of the UAE’s future. The collection also includes three other editions. These editions are notably cheaper and cost around 250 AED, equivalent to around $68 per NFT postage stamp.

Stamps depict UAE’s blockchain adoption

The UAE has become very open to blockchain technology. The country’s friendly regulatory framework has attracted some leading cryptocurrency businesses, including Binance and FTX.

The CEO of the Emirates Post Group, Abdullah Al Ashram, commented on the company’s decision to release digital collectible postage stamps. The executive said that the decision was influenced by the desire to celebrate the anniversary of the Founding Day. He also added that these postage stamps were available to everyone globally.

“It’s definitely a part of the broader strategy and blockchain will be the key to many projects at Emirates Post Group,” the executive said. The launch of these postage stamps has made the Emirates Post Group the only post company in North Africa and the Middle East that has released such a product. Over the past year, blockchain technology has become an integral part of the UAE’s strategy.

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage