Blockchain startup by the name of Blocklancer has stated that it would pay part of the salary of its employees in the Ethereum cryptocurrency. The reason for this is that Ethereum would actually attract a lot of talent since people are attempting to convert the normal money into cryptocurrencies. If they are able to directly get the salary in cryptocurrencies, that would be a huge advantage for them and also it would prove to be beneficial for the company as it would be able to retain top-quality talent.
Bitcoin and other cryptocurrencies are becoming more and more mainstream. Many companies are also paying the salaries in Bitcoins. Also, as the mainstream adoption of cryptocurrencies increase, even more, you can be sure that they would be used in day-to-day transactions as well. When cryptocurrencies are used in day-to-day transactions, the value of cryptocurrencies would increase even more. The mainstream adoption of cryptocurrencies is a thing which is widely expected by the cryptocurrency experts to happen in the future. With the adoption of cryptocurrencies being accelerated, it sure would result in the quicker than anticipated rise.
GMO Internet which is a company in Tokyo made a similar announcement to Blocklancer’s recently where it stated that employees had the option of receiving a part of their salary in Bitcoins. This helps the companies as well as employees as they can withdraw the Bitcoins or the other cryptocurrencies at the higher rate which would help them get a higher amount of money.
This, however, does not come as a surprise as the adoption of cryptocurrencies has been consistently increasing since the last few months. Even normal people are looking to take a personal loan or take out a second mortgage in order to invest in cryptocurrencies. After the phenomenal rise in cryptocurrencies, many investors who had been on the fence earlier are even more confused whether they should invest in cryptocurrencies at these inflated levels or whether they should stay away from cryptocurrency until the price of these currencies falls. This confusion is driving investments in cryptocurrencies at exorbitant prices.
One thing which is for sure is that as the adoption of cryptocurrencies increase, the value of cryptocurrencies would increase even further which would make it highly beneficial for companies as well as individuals to invest in cryptocurrencies and withdraw part of their salaries in the same. As more and more companies start adopting this approach, the demand for cryptocurrencies would also increase more which would increase the price of such cryptocurrencies.
Tugba Kaplan - Tech Journalist
Tugba Kaplan is a journalist with more than 8 years of experience. She is an award winning correspondent. She has worked for Article 19 / The Guardian Foundation/ P24 Knowledge Right Project. She has participated in See Media Observatory in Macedonia. She was Research Fellow at Friedrich Ebert Foundation in Germany.