A Japanese holding company will offer employees part of their salaries in Bitcoin starting in February 2018.
Japanese company GMO Internet will start offering employees a portion of thеir salaries in Bitcoin, as of February 2018. The company, a holding of businesses that employs over 4,000 people total, will give employees the option to receive up to 100,000 yen ($890) monthly in BTC.
According to The Guardian, a spokesperson for GMO, Harumi Ishii, says the company is exploring the applications and capabilities of Bitcoin. In paying employees in Bitcoin, they hope to get a better understanding of how the virtual currency can be used in real-world scenarios:
“Employees can receive salaries by Bitcoin if they want to. We hope to improve our own literacy of virtual currency by actually using it.”
According to their site, the company has shown interest in the Blockchain and cryptocurrency space prior to their decision to pay employees in BTC. Having successfully launched a Bitcoin exchange earlier this year, GMO is looking to dive into the deep end of the cryptocurrency world and will start a mining operation in 2018 as well.
Not your average salary
Considering the current Bitcoin price, the option embraces a new technology and a booming market. It is not unlike traditional companies offering employees pensions and investment options.
The added benefit of receiving Bitcoin and other cryptocurrencies is that people can choose to keep their coins as a long-term investment or draw out their earnings as an income supplement as often as they like.
The option also puts some financial power back into savings, as crypto holders are not locked into conventional savings accounts, some of which have strict access policies and time frames.
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Author: Gareth Jenkinson