In this case, we are far from the actual adoption of Bitcoin even if all employees choose to accept Bitcoin as salaries. As I explained before, those who will choose to accept their salaries in Bitcoin will be of two types: either employees who want to allocate part or all of their salaries in the form of a risky investment and they most likely have enough deposits that enable them to secure daily living expenses in a way that allows the salary to be used for investment savings, and I can almost guarantee that most of them will be senior employees who enjoy high salaries, or those expatriate workers who may choose this type of payment in order to make a quick and cheap transfer to their home country. In any case, there is no room for direct use of Bitcoin, and therefore this initiative remains a fundamental question about what its feasibility could be, and if a court in Dubai can issue these decisions, can it, by the same logic, allow economic sectors, partially or completely, to accept Bitcoin payments.

In addition, Bitcoin could be used as a payment options for people who want to invest their money, for people who don't, they could just choose FIAT instead, though it might not sound efficient, it could still help people to have better life saving or pension saving.

Good news coming to the digital currency space as one of the countries in the Asia region have just approved bitcoin and cryptocurrency for salary payments. It was first rejected in 2023 and now approved by the First court of instance.


This move will have a positive impact in the mass adoption and use of bitcoin. For a country as big and popular like Dubai to make this move, we wait to see similar from neighboring countries or tourist destinations like Dubai.

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https://www.cryptotimes.io/2024/08/16/dubai-court-approves-cryptocurrency-for-salary-payments/

First of all, Dubai is a city located in the United Arab Emirates, not a country Besides that, from what I recall the Emirates, Dubai in particular, have always been pretty open about cryptocurrencies in general so I'm not surprised they approved this law. Of course it's also good for the whole crypto world, having a city like Dubai recognizing cryptos as payment is a big move, probably others will follow.

I don't think any government will even make it mandatory, they will just make it an option for those who want to pay using Bitcoin it is going to be fun and less stressful because when it is time to pay using Bitcoin you can even scan then send that makes it very easy, because even the word is advancing, it is just as if bitcoin has been in the future for a very long time and their countries that they made bitcoin a means of payment and I don't see them with any complain and since Dubai is considering to make it as another method of payment makes it more fun because it going to affect the price of bitcoin for sure. Dubai people are business people so they definitely have a reason for doing this, and other countries will pick an interest and might even want to give Bitcoin a shot because a lot of countries have been having issues with legalizing bitcoin and just a single decision can change a lot things so every decision is an opportunity  to open more doors and that is what we want positive news always.

Well, the thought is it doesn't differ people who participate signature campaigns. The difference is you could only hold it as investment once received or exchange to fiat on Dubai, and who would think bitcoin price will collapse, its possible but it will not happen overnight unlike any other altcoins.

Well, they recently banned crypto payments on UAE so it's not possible unless  they amend that ruling.

Well, the thought is it doesn't differ people who participate signature campaigns. The difference is you could only hold it as investment once received or exchange to fiat on Dubai, and who would think bitcoin price will collapse, its possible but it will not happen overnight unlike any other altcoins.

Dubai finally approving crypto for salary payments is a big step, but it’s kind of overdue. The city has been a hub for blockchain startups and events for a while now, so you’d think this would’ve happened sooner. Still, it’s great to see Dubai catching up and officially embracing crypto in a way that could make a real impact. This move could really boost confidence in using digital currencies for more everyday things, like getting paid.

Although many got amaze in this news but I don't think workers should receive a volatile currency since majority of them cannot afford to lose a value if the price of bitcoin collapsed. Maybe if they implement this one to be used to buy physical goods then it will be more better adaption in their country.

The new policy of Dubai government will surely bring big changes in the long run. If one or two companies pay their employees in a token in this way, gradually crypto payments will be established. But even if it is only now supported by the courts, it will take some time to see how it will affect the people there. However, the Dubai authorities have taken a far-reaching decision. Those who are tourist will also welcome this initiative. Especially if workers were paid in Bitcoin rather than other tokens it would seem more positive aspects. However, due to the volatility, there will be different opinion from different people. But all in all, I think such a decision by the Dubai government will create a positive impact on their economy as well as crypto currency world.