Imagine African countries using Bitcoin to pay salaries,

[KupaCrypto]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

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[Wiwo]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin,

No African country has announced the full adoption of Bitcoin as legal tender aside the central Africa republic who is the only country in Africa that have adopted Bitcoin as an alternative and even at that,  they have not made it known whether or not Bitcoin is used as an official currency for workers salaries,  although we already are aware of the sceptical nature of many governments towards bitcoin and many of the countries have been on attacking mode and the majority give a red light to Bitcoin adoption.

So for that,  we are still far from achieving that state where an African country will adopt Bitcoin to pay salary,  and not even El Salvador who was the first country to adopt Bitcoin has not implemented that law in its system yet.

[SatoPrincess]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin,

You could do your research on that. As far as I know, Central Africa Republic is the only African country that has made Bitcoin a legal tender. The rest of Africa are neutral about Bitcoin.

Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Help me understand how paying workers in Bitcoin will help fasten the growth of the economy.

[serjent05]

Help me understand how paying workers in Bitcoin will help fasten the growth of the economy.

Receiving Bitcoin as a salary can automatically implement a financial inclusion to the receivers.  It is the state where the person can do transactions internationally and can participate in economic online activities whether they are banked or unbanked.  This will help people to have access to international commodities and possibly trade or create online international/local markets with the use of Bitcoin.  This will serve as a new means of income to these people.  With growing livelihood, it will more likely contribute to the growth of the economy of a country.

Of course, there should be programs and activities to inform these BTC receivers on how they can maximize the potential benefits of using Bitcoin.  If there is no information desimination and just paying them with BTC, I think it won't have any help to the economy.

[suzanne5223]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,

Nothing is impossible especially now that the most respected investment companies have an interest in Bitcoin. With that being said, the citizens of Nigeria appear to be enthusiasts of cryptocurrency but the stance of their government appears not to support BTC which shows that what you said can't happen for now in the country.
Central Africa Republic is the only African country with the possibility of using BTC to pay salaries.
I believe other African countries governments will never like the idea of paying their worker's salaries in BTC which will limit their fiat currency usage.

[tabas]

While we're on the Bitcoin community and optimistic with this approach, we like to receive salaries in Bitcoin and that won't even be a problem to us even with the volatility. But with these government agencies, you just can't hope that they'll have the idea of what we're optimistic with and then apply it to them as soon as possible. It doesn't go like that as these sectors in the government can't settle for the volatility that Bitcoin has and their employees also won't agree to that part because they want to receive what they've worked for as equivalent to it. While some may agree that it's totally fine as they are also going to invest on Bitcoin why not accept it as payment so it goes directly. Again, it's not for everyone to agree with.

[Iroh]

There’s one hurdle to cross first and that’s electing a government that is bitcoin friendly. Friendly enough to make it a legal tender in the country and go a step further to want to create an option for its civil service employees to receive their pay in bitcoin.
It would take a lot more than wishful thinking to actually make this a realization as a lot of thought process and work needs to be taken but I don’t think a new government agency is really required. In my opinion, The existing treasury department or the finance ministry in the country  could suffice and perhaps in coordination with some other relevant government agency, handle such an assignment when tasked.

[Hispo]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Actually, economical growth cannot be met exclusively with the adoption with Bitcoin, in my opinion. In order to improve the living standards and the economy of a whole country the administration of such country needs to apply reforms and important investments in infrastructure. Adopting Bitcoin at most can help to open the market to speculation of the price, increase the reception of money from abroad and in the case of un-trusted governments/banking it can help for people to hold their assets in a way which are not easy to seize by crooks.

Paying with Bitcoin to the African people could help a bit to encourage people to save, because of the expectations of them for the price to increase, but that is very situational, most western economies and within capitalism, consumption of goods and services is a central role to keep a good economy.

If we talk about improving a country, then it would be more straight forwards to get people to work instead speculating with Bitcoin, but that is just my personal opinion.

[Yamane_Keto]

Paying salaries in Bitcoin, in a country where there is a high poverty rate and where the population needs to spend 90% of the salary directly, is useless. Most of the population cannot keep Bitcoin as an investment and therefore will not be able to benefit from price fluctuations, and the high Bitcoin fees may wipe out most of the salary.

With a fee of 47 sat/vB and assuming that the person will make an average of 3 transactions and that the transaction is 1 input 2 output, he will need about 21 US Dollars per month, while the average salary in Nigeria is around 30,000 NGN (69.17 US Dollars) according to https://www.timedoctor.com/blog/average-salary -in-nigeria/

We are talking approximately 1/3 of the salary in transaction fees  

If there are social security or pension funds where workers' salaries are deducted and kept, then Bitcoin can contribute to mitigating the effects of inflation.

[Poker Player]

Paying salaries in Bitcoin, in a country where there is a high poverty rate and where the population needs to spend 90% of the salary directly, is useless. Most of the population cannot keep Bitcoin as an investment and therefore will not be able to benefit from price fluctuations, and the high Bitcoin fees may wipe out most of the salary.

With a fee of 47 sat/vB and assuming that the person will make an average of 3 transactions and that the transaction is 1 input 2 output, he will need about 21 US Dollars per month, while the average salary in Nigeria is around 30,000 NGN (69.17 US Dollars) according to https://www.timedoctor.com/blog/average-salary -in-nigeria/

That's just what I was thinking. Receiving the salary in Bitcoin, so that people will immediately exchange it into local currency in order to spend it does not make much sense.And more so after the era of high fees we've had recently, where until recently you could pay $20 if you wanted to have some guarantee that your transaction would be confirmed. What the OP says as a dream is fine, but it's not going to happen, and certainly not in the near future.

[Apocollapse]

Here we go another one who pretend to be very proud to use Bitcoin for everything.

You could do your research on that. As far as I know, Central Africa Republic is the only African country that has made Bitcoin a legal tender. The rest of Africa are neutral about Bitcoin.

You forget they already stop to accept Bitcoin as legal tender since Q1 on the last year.

With a fee of 47 sat/vB and assuming that the person will make an average of 3 transactions and that the transaction is 1 input 2 output, he will need about 21 US Dollars per month, while the average salary in Nigeria is around 30,000 NGN (69.17 US Dollars) according to https://www.timedoctor.com/blog/average-salary -in-nigeria/

He will counter your argument by saying "uS1ng L1NghtNInG n3TW0rK wILL sOlve THiS" while the reality not many people use that due to complexity and I doubt if he's even use LN.

[Fiatless]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Paying salary in Bitcoin will have no positive financial effect on these workers. Workers in most of these developing nations depend solely on their salaries to survive. Which entails that they will immediately change Bitcoin to fiat to take care of some expenses. It will only benefit those that have other sources of income, which could now allow them to hodl the Bitcoin until the price increases. It would have been a good idea if the transaction fees were low but how can the government cover the cost of paying these high transaction fees?

Every government will always promote its local currency, I doubt if any politicians will decide to ditch its local currency for Bitcoin for salary payment. For me, these workers should be taught how to make extra money from different sources and some can be introduced to Bitcoin as an investment platform.

[Kakmakr]

I know some African countries has adopted the use of M-Pesa (A centralized digital payment system, that has been developed before Bitcoin existed)

I think governments like something that they can control and centralized services like M-Pesa will be their first choice. (They cannot monitor or manipulate Bitcoin transactions or block Bitcoin transactions)

[dothebeats]

This is what I don't understand with people saying that workers being paid in bitcoin or crypto will further their economy. While owning bitcoin isn't really taxed in Africa (yet), and the citizens will get their pay 100%, what difference would it make if they will be needing to spend all of those to meet their needs anyway? There's no real saving there, nor will they ever benefit from the fluctuations in price for bitcoin. If their wages aren't increased, even if they get paid in bitcoin, they'd still remain to not get any substantial savings or investments on their end.

[hugeblack]

With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Basketball stars^[1], famous people, professionals, and even decision makers who accepted payment in Bitcoin agreed to allocate a percentage in dollars and the rest in Bitcoin. even if the government decided to pay in Bitcoin and there was knowledge of its use, most of us would prefer to transfer 60% to Bitcoin and the rest to pay in local currency, and even signature campaigns. Here, those who pay with Bitcoin sometimes try to pay with altcoins, so it is a successful idea if it starts with a certain percentage, for example 10%, and the richer, the higher the percentage.


[1] Two NBA All-Stars to accept salary in bitcoin in partnership

[Adbitco]

Before that will be possible we should first think of adaptation and legalizations when it's being legalized by the African countries be it Nigeria then we can think of legal tender. Even though some individuals are using it for something special within their business it's still not legal why because they government has never announced it any day despite lifting the bans, still i have never came across any news of African countries using that to pay salaries to workers except individual businessmen/women can implement that secretly without the government having any idea related to their action.

[Jatiluhung]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

For several countries in Africa that still have the problem of hyper inflation, perhaps a bitcoin payment solution for employees could indeed be a temporary solution. But for several other developed countries, this may depend on whether the employees there are familiar with Bitcoin or not.

But I feel that African countries may now be more friendly towards crypto and bitcoin. So it is not surprising that crypto adoption there is increasing rapidly. Especially in Nigeria. I like the enthusiasm of the people of that country. However, for now I am putting more emphasis on increasing the literacy of Bitcoin and crypto knowledge there by the government. So that when Bitcoin adoption takes effect, everything will be ready for this.

[btc78]

Actually even in parts of the world that is not Africa, i have not heard of salaries being paid by bitcoin unless of course it is a job technically related to bitcoin or cryptocurrency like if it was a task you found here it is possible that they may pay you in bitcoin or other altcoins

But if you are talking about everyday jobs i do not think it is possible for normal folks would have a hard time using bitcoin for their everyday lives assuming that their salary is the one letting them live day by day

[arwin100]

I don't know if the government of any African country have adopted the system of paying salaries in Bitcoin, but I know here is Nigeria they haven't, it's possible to pay employees using Bitcoin or other crypto currencies ,
With the services of some crypto currency payroll agencies  like Bitwage,papaya global, ontop,  which will make it possible for the government to pay their workers in Bitcoin or other crypto currencies and can be sent  into their digital wallet,
Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Don't overlook something that has not properly studied yet and we know bitcoin is very volatile currency which is hard to adopt by some people in the world and if happen that the employees will receive bitcoin as their salary then the market dump for sure a lot of people will get crazy for that scene so I think this need a lot of study and also need to conduct a good introduction so that people will not be surprised on any turn of events that might possibly happen in the market.

For now its good for bitcoin to exist like this and let the people discover on how to use this since by the time people is well prepared for adopting this currency for sure they would provably know how to deal with bitcoin if they receive it on their wallets as part of their monthly wages.

But for now this is far to happen to many issue at government side that need to address since they don't see bitcoin as good alternative to their currency.

[michellee]

Adopting a salary payment system in Bitcoin will depend on each country's regulators. They need to check and see everything before they start adopting it. If Bitcoin is not used as a means of payment, it will be difficult for workers to use their Bitcoin for shopping.

But if the government has fully legalized the use of Bitcoin as an alternative payment, there is no problem. However, the current increase in transaction costs makes regulators think long before they decide.

Maybe another way is to continue paying salaries using the usual method. Meanwhile, regulators can allow people to use Bitcoin or crypto to invest in Bitcoin fully. This will give people the opportunity to start investing in Bitcoin so that it can help improve economic conditions for the better.