In UAE the Dirham Backed Stablecoin got Launched

[coingabbarmarket]

Dirham backed stablecoin launched on Uniswap and PancakeSwap in UAE
In UAE one former student of Massachusetts Institute of Technology (MIT) and an executive of Softbank launched one Dirham backed stablecoin on Uniswap and PancakeSwap. The motive of launching this stablecoin is to provide exposure of United Arab Emirates fiat currency joined status to high inflation suffering countries. Dirham is an Ethereum ERC-20 token issued by Hong Kong based drama trust. After the announcement of DRAM stablecoin launching on decentralised finance protocol Uniswap and PancakeSwap, information was shared by Akshay Naheta, co-founder and CEO of Distributed Technology Research (DTR). In which they said that the Abu Dhabi based company is developing a technique for Dirham backed stablecoin by October 2022. Nehata has said ahead that Dirham in the authority region has rebooted DTR, which was helped by them in 2019 to co-found in Switzerland.

https://www.coingabbar.com/en/crypto-shorts-news

[cryptoworld1]

In UAE the Dirham Backed Stablecoin got Launched

A former Massachusetts Institute of Technology (MIT) alumnus and SoftBank executive has launched a dirham-backed stablecoin that aims to give countries plagued by high inflation environments exposure to assets linked to the United Arab Emirates’ (UAE) fiat currency.



https://cointelegraph.com/news/abu-dhabi-firm-launches-dirham-backed-stablecoin

What;s your opinion about  In UAE the Dirham Backed Stablecoin got Launched?

[Peter90]

In UAE the Dirham Backed Stablecoin got Launched

A former Massachusetts Institute of Technology (MIT) alumnus and SoftBank executive has launched a dirham-backed stablecoin that aims to give countries plagued by high inflation environments exposure to assets linked to the United Arab Emirates’ (UAE) fiat currency.

UAE Inflation Rate - Historical Data

Year   Inflation Rate (%)   Annual Change

2022   4.83%   4.84%

2021   -0.01%   2.07%
2020   -2.08%   -0.15%
2019   -1.93%   -5.00%
2018   3.07%   1.10%
2017   1.97%   0.35%
2016   1.62%   -2.45%
2015   4.07%   1.72%
2014   2.35%   1.25%
2013   1.10%   0.44%
2012   0.66%   -0.22%
2011   0.88%   0.00%
2010   0.88%   -0.68%
2009   1.56%   -10.69%
2008   12.25%   -10.69%



https://www.macrotrends.net/countries/ARE/uae/inflation-rate-cpi#:~:text=UAE%20inflation%20rate%20for%202022,a%205%25%20decline%20from%202018.


The Dirham has almost continually lost purchasing power for the last 15 years.
What kind of protection against inflation is a currency which is subject itself to inflation?

[Peter90]

The motive of launching this stablecoin is to provide exposure of United Arab Emirates fiat currency joined status to high inflation suffering countries.

What is a better protection vs. inflation: the Dirham or Gold?