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This Japanese Company Is Paying Its Employees In Bitcoins

This Japanese Company Is Paying Its Employees In Bitcoins

Japanese web giant GMO Internet Group recently revealed that it will soon start paying its employees, a part of their salary through Bitcoin, Bitcoin and digital cryptocurrency website Coindesk reported.

As per the release, GMO will be rolling out this system from February 2018 within GMO Internet Co. Ltd. expansion across the entire group and its over 4,000 employees to follow. The employees will have an option to have a part of their monthly salaries, with lower limit being 10,000 Yen (around $88) and an upper limit of 100,000 Yen (around $882) as Bitcoin.

“(the employees).. will also receive a bonus of 10 percent of the chosen amount as a ‘incentive'” the release stated.

Tokyo-based GMO first entered the cryptocurrency space with the opening of an exchange in May 2017.  The company, which offers web hosting and a range of other digital services, also announced in September the launch of a new cryptocurrency mining operation, which is set to commence in the first half of 2018.

The new system will also use the token referred as “GMO coin” to allow staff to purchase Bitcoins as part of the scheme.

“The GMO Internet Group will contribute to the development of virtual currencies in the world by promoting efforts related to virtual currency throughout the group” the said.

The move, however is not that surprising as the company itself is in the business of Bitcoins. But does this move raises concerns? The answer is Yes!

According to many financial experts, even some from JP Morgan and Goldman, Bitcoin is just a “bubble” and that it may soon collapse leaving a big hole in investors’ pockets. The absence of any regulatory authority is one the major concerns that is bothering everybody. Moreover, the prices are not governed by any authority, experts even say that it may fall in a fortnight to nothing but mere hundred dollars. Even after those warnings, people are investing in it, some are willing to take the risk, but be sure if you can afford it!

 


 

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