Pay Salaries Wear Bitcoin, Like What?

Jakarta – Increasing the value of Bitcoin, as well as the growth of cryptocurrency business, making this digital currency not only appeals to investors, but also everyone who is involved in the technology world.

In recent years, some companies have started a trend with Bitcoin salaries.

As performed by SC5, a digital design service provider from Denmark, starting 2013, and GSMSolutions, an Irish electronics repair company, since 2014.

Not only that, building a liaison platform between job seekers and companies that both want to pay for paychecks using cryptocurrency, such as Bitcoin, Litecoin, and Dogecoin, are also increasingly introducing the trend.

One of them is Coinality, which stood since September 2013. They claimed there are 5 thousand people who apply for jobs through Coinality, with 4 thousand has been accepted in various companies.

Then, one of the holders important in the trend, is the presence of conversion service providers into Bitcoin. The two most famous are Bitpay and Bitwage.

Bitepay, which has been established since 2011 has two excellent services, namely Zuman and Incoin. Whereas Bitwage which comes two years later has Bitcoin Payroll for Individuals, which is abbreviated BP (i).

Forms of Agreement

Typically, Bitcoin used for payroll is adjusted to the value of money itself at a joint time.

If the Bitcoin value at that time touches USD 10,000, and the employee asks USD 1,000 of his salary for confirmation, he will receive 0.1 Bitcoin.

When the employee chooses to sell it, he will receive the money with the amount of salary in the form of Bitcoin.

Pros and cons

Some argue, the use of Bitcoin in payroll will facilitate companies that do not live it.

One who believes this is Eric Piscini, one of the financial technology consultants of Deloitte Consulting LLP.

“Paying external employees and technicians using Bitcoin will make CIOs (Chief Information Officers) a step further in the struggle for talent in technology,” he said.

In addition, Rise People, a provider of recruitment software in a Canadian network, says the amount of profit that can be taken in applying Bitcoin as a form of payment of salary.

Some things are easy to use, minimal additional costs, and can attract more new talents. Then, of course, this method can grow the technology of Blockchain and Bitcoin itself.

Even so, voices related to the implementation of this implementation is still heard from various circles. Some payout issues with Bitcoin will place employees in appropriate situations.

“If employees receive their salaries in the form of Bitcoin, just as they receive a lottery ticket, they are doing a game,” said Massimo Massa, Professor of Finance at INSEAD, a French business school, as quoted from the BBC on Friday (29/12) . / 2017).

Risk of receiving salary using Bitcoin can not be ruled out.

The value that can change drastically becomes one of the specter that should be taken into account for employees and companies that implement the policy.

“There is no guarantee of Bitcoin or other cryptocurrencies going up, of course digital has no intrinsic because very few apply it in the real world,” Massa concluded. (rns / rns)





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