Bitwage Announces Ether Payroll for Companies and Individuals

Bitwage recently announced the launch of its latest payroll, Ether payroll. In simple words, now a worker from anywhere in the world can now receive any percentage of their wages in Ether.

Employees, freelancers and independent contractors can receive their payroll from any clients within the countries like the US, EU or UK. A full list of countries available here. Companies that prefer offering tax and HR-complaint Ether benefit can also use Bitwage. All they need to do is to sign up to offer it as a benefit to employees, says the announcement.

Since the year 2014, Bitwage has been offering Bitcoin payroll. and have been going on and on in growing the ecosystem of cryptocurrency. Bitwage has raised USD $811.3K in three funding rounds, according to CrunchBase.

During that time, Bitwage had the aim of closing the financial loop. Things were changing globally back then, merchants and businessmen had been accepting Bitcoin to conduct trade, but the idea if employees to get paid in it as well was nowise. The bitcoin payroll launch could’ve been considered a significant achievement at that time but the fact that Bitcoin wasn’t the only cryptocurrency in town anymore could also not have been disregarded.

The blog post announcement state that since the year of 2017, the team at Bitwage have been trying their hands with the Ethereum ecosystem. They successfully created a system that gave companies the opportunity to fund payrolls and other fiat obligations in Ether. Also, they launched Blockchain technology and consulting services firm, Inwage, which further helped in building several projects on Ethereum Blockchain. Amongst the projects was the Moria Initial Coin Offering (Moria ICO). Moria ICO was able to accomplish $50MM. The Moria ICO project was built for a major insurance company that leverages Ethereum for audit trail capabilities, notes the announcement.

Payroll process for workers

The overall process of on-boarding looks really simple,
  • Sign up and get all the specific banking details for receiving your wage.
  • Select the % of funds which go to Ethereum, Blockchain or local currency on Bitwage (this can also be done with your payroll provider).
  • Enter your Ethereum address and get paid in Ethereum.
More information can be found here.

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Dushyant Bhadauria Opinions expressed by techsutram contributors are their own. More details

Dushyant is an fanatic student of journalism and mass communication. His interest in the subject arises specifically because of business communication. He is interested in this field because he believes that through his readings he can assist other beings in making the right decisions related to business.

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