Summary: Dubai is launching it's own official cryptocurrency, emCash, which I suppose is for Emirates. Yes, I remember it from kindergarten, E is for emirates. You know, no one wants to talk about the Emirate in the room.
Some say this is bad for Bitcoin because it is crowding out the Mother currency, and because it is state sponsored which, of course, is the opposite of what Bitcoin is supposed to be about (and therefore, in my opinion, cannot be considered competition).
India, Russia and China are planning on their versions of a centralized cryptocurrency, which puzzles me. A centralized blockchain is like having a logo for Anarchists. Uh, wait a second. Crap.
Here's the article:
https://inc42.com/buzz/cryptocurrency-emcash-bitcoins/
Let me know what you think.