Sounds cool. It gives a strong move for bitcoin seeing one of the modern countries is also evolving in terms of payments.
Dubai is hardly a "modern" country. It is backwards, primitive, and a failure in regards to basic human rights. The only reason people think Dubai is all fancy and civilized is because they managed to use their oil money and handouts from the Western world to distract us from its inability to provide for their working classes, as well as their religious intolerance by creating a bunch of tall buildings. Don't forget, that the cheap Indian labor they used to build those tall buildings were later beheaded/deported. Dubai is the Shah Jahan of the Middle Eastern world.
They are only implementing Bitcoin to boom the tourist market. They quite literally ban poor people from being on the only premises that white people that go for tourism there see. Those are the only places you are going to see Bitcoin machines/vendors/end users. The rest of Dubai is pretty much like the third world.
It is dubais culture that seems they are primitive but I know they are cathcing up. They are always open to innovations and ideas. They are fast to implement new technologies. Currently they approved the first hyperloop project.
That's the point. They are so wealthy, yet so primitive. It just stuns me. I really don't think Dubai will benefit from this, since Bitcoin users are believers in progressivism which Dubai lacks.
i do not know if this is true, but i can see why this could be the case. they have some bad advisers that you want to profit of of them and/or they have so much money that they just try things out. if it works great if not they try the next idea.
