While Bitcoin is an appealing investment vehicle its other use cases are apparently less popular. Fewer folks are spending it to buy goods and services as of right now… and when it comes to salaries, Bitcoin has not made too many strides yet, either. If it is up to GMO Internet Group, however, that plan will come to change soon.
It’s not the first time GMO Internet Group has taken a closer look at Bitcoin. The company made it clear they want to work with the leading cryptocurrency in an official capacity.
For now, though, the main focus lies on incorporating a Bitcoin-related payroll for all the staffers. That means the Japanese internet titan will allow employees to receive a chunk of their salary in cryptocurrency.
Such a business venture will certainly carry a bit of risk. Given Bitcoin’s price volatility, dealing with salary payments in BTC can become risky.
Even still, there appears to be a genuine interest in this latest option. GMO Internet Group has made it crystal clear they expect big things of Bitcoin, although the current market trend is not all that decisive.
With employees determining the salary cut they want to receive in Bitcoin, interesting options become apparent to some. The minimum is ten thousand Yen, whereas the maximum is one-hundred thousand Yen. These amounts are still relatively low compared to what GMO Internet Group employees earn, however this is the initial stage of rolling out this feature.
There is also an incentive for employees exploring this option, as they receive a bonus of up to ten perent.
Will Other Companies Follow Suit?
There’s a great reason as to why this option launches in Japan first and foremost. The country has made Bitcoin and other cryptocurrencies legal tender quite some time ago. As it happens, incorporating BTC into a company’s payroll is far less complicated than one may think.
It seems to indicate other Japanese companies may follow this lead by example, assuming that GMO Internet Group is successful in this move.
For GMO Internet Group the belief in Bitcoin and other cryptocurrencies is incredibly strong. They now consider it to become universal currencies which far transcend the boundaries of fiat currencies. That in itself is a pretty interesting stance, although one that not everyone shares.
After all, cryptocurrencies remain extremely volatile and have little use outside of speculative measures.
It is evident the opinions on cryptocurrency will always remain divided. With GMO Internet Group bringing positive attention to the ecosystem, good things are bound to happen eventually.
Making Bitcoin more useful is a major undertaking given the overall negative public image this currency has. Stories like these show there’s a lot more to cryptocurrency than strictly using it for criminal purposes.