TheCarPeople.ae are Dubai’s first car seller to accept the Doge Coin cryptocurrency as payment for their
vehicles. This follows the shock news that Paypal, SpaceX and Tesla founder Elon Musk would no longer accept
rival crypto-currency Bitcoin.
Musk made global headlines, and sent the crypto-currency markets into a spin, when he tweeted that his electric car
manufacturing company would no longer accept Bitcoin for Tesla purchases. Explaining his decision, Musk highlighted
the massive power consumption required to generate the new currency, and the negative environmental impact. Bitcoin
uses a massive 707KW per hour, per transaction, which is the worst of all the crypto-currencies in use today. Much
further down the list is Doge Coin which generates just 0.12KWh. His announcement has drawn attention to the little-
known environmental impact of Bitcoin. The biggest and most polluting crypto currencies have been forced to reconsider
their business models with many looking to find less power intensive methods for digitally mining their coins. Tesla
continue to accept payment in Doge Coin, Musks preferred crypto currency which is suddenly seeing massive gains and
increased use around the globe.
Doge Coin, already operating at a more sustainable level, is sometimes seen as a natural successor to Bitcoin and
Ethereum. It is touted as one of the main crypto-currencies expected to go mainstream in the future. Furthermore, Bitcoin
and Ethereal have both been viewed as an investment rather than a functioning exchangeable currency. The news that
The Car People are accepting Doge Coin payments is another step towards normalising person to person digital
currencies exchange and demonstrating Dubai’s commitment to future technologies. CPO at TheCarPeople.ae, Ahmed
Darwesh believes that a future focused car seller and a future focused currency are wholly compatible:
"We feel Doge Coin and TheCarPeople share the same values, namely empowering people"
- Ahmed Darwesh, CPO at TheCarPeople.ae
The UAE Vision 2021 promotes a shift towards a less polluting and smarter economic landscape for the region. Retailers
adopting lower impact crypto-currencies such as Doge Coin are aligning themselves with this ambitious vision.
TheCarPeople.ae are one of the first retailers to stock the new all-electric Mercedes EQC400 and have a specialist
Electric Vehicles (EVs) team to help buyers make the best decision for them and the planet.
With Elon Musk promoting the Doge Coins, and a renewed focus on the environmental impact of other crypto-currencies,
the moment may have arrived for this former ‘Dank’ comedy currency to go truly mainstream. From summer 2021,
TheCarPeople.ae will join the growing list of forward-thinking businesses to formally accept Doge Coin as part of its
payment options. It may have started as a joke but as of 2021, Doge Coins can now be used to buy artworks, property in
the UAE, fashions and perfumes and now cars.