Bitcoin may be an appealing investment vehicle for many, and many retailers accept payments in the digital coin, the cryptocurrency has not made too many inroads in other areas yet.
Areas like paying salaries, for instance.
A few small companies use it for payroll purposes, but something serious is now developing.
GMO Internet Group, a notable Japanese Internet company, is taking a closer look at Bitcoin. And the firm has made it clear that it wants to use the leading cryptocurrency in official capacity, including incorporating a Bitcoin related payroll for all staffers.
In other words, the Internet giant will allow employees to receive a chunk of their salary in Bitcoin.
The employees will determine the salary cut they want to receive in the digital currency, with the minimum being set at 10,000 Yen and the maximum, 100,000 Yen. And you guessed right, these amounts are still relatively low compared to what GMO Internet Group employees earn.
But it’s a start.
And interestingly, there is also an incentive for employees that explore this option, as they will receive a bonus of up to 10% if they opt for Bitcoin payments.
Of course, it comes as no surprise that this option is launching in Japan, first and foremost. The country made Bitcoin and other cryptocurrencies legal tender not too long ago, and it only stands to reason that companies are starting to incorporate BTC into their payrolls.
Assuming this GMO Internet Group effort is successful, we may see other companies follow this example in the coming months.