|
Title: [2017-12-15] Japanese Company To Start Paying Employees In Bitcoin Post by: yndye on December 15, 2017, 05:07:09 AM A Japanese company will start paying part of its employees’ salaries in Bitcoin, as it aims to gain better understanding of the virtual currency, a spokeswoman has said.
GMO Internet, which operates a range of web-related businesses including finance, online advertising and internet infrastructure, will start paying up to 100,000 yen (£660/$890) monthly by Bitcoin to its employees in Japan from February next year. “Employees can receive salaries by Bitcoin if they want to,” company spokeswoman Harumi Ishii said. “We hope to improve our own literacy of virtual currency by actually using it.” The offer will be open to around 4,000 employees of the GMO group in Japan, she said. The company started a Bitcoin trading and exchange business in May. And next month, it will join the so-called “Bitcoin mining” business – gaining the right to receive new Bitcoins as a reward for helping keep the network secure by approving transactions. World Bitcoin prices have surged globally this year, soaring from less than $1,000 in January to $17,000 this week. https://www.theguardian.com/technology/2017/dec/15/japanese-company-paying-employees-bitcoin Title: Re: [2017-12-15] Japanese Company To Start Paying Employees In Bitcoin Post by: Samarkand on December 15, 2017, 02:32:03 PM I just had an interesting idea.
We all know that GMO Internet is going to enter the Bitcoin mining arena in the next months. Every miner needs to liquidate a certain part of their mining profits in order to pay for hardware, staff, electricity and so on. Instead of having to actually trade their mined Bitcoin OTC or at an actual Bitcoin exchange they can avoid this step by using some of the mined BTC in order to make salary payments to the employees, who opt-in to receiving parts of their salary in BTC. By doing this GMO Internet saves on exchange fees and frees up fiat money that was previously used to pay the salaries. |