With Bitcoin being increasingly used to buy real estates and paying food bills across various crypto-friendly nations, it surely won’t come off as much of a surprise if companies start replacing their normal payroll structure with the digital token. Well, we wouldn’t say replacing in its entirety, but providing a bitcoin token option as an alternative to fiat currencies has already been roll-forwarded by Japan based internet giant GMO which announced recently that it shall very soon allow its staff to withdraw their salary in bitcoin mode. GMO has given a February 2018 date for rolling out this system in its entirety targeted at properly dealing with the March 2018 payroll. Slowly this experimental payroll system will be implemented across its entire human resource capital comprising of more than 4000 employees. The company has stated that, “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.”
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GMO had previously announced its plans of coming ahead with an Initial Coin Offering back in October. The company hinted that the new token generated would be used under the umbrella of a comprehensive payment system targeted at an upcoming product series. The latest statement released by GMO group has confirmed that this new token shall be termed as “GMO coin.” This will allow staff to enter into bitcoin purchase transactions under the scheme. The bitcoin portion of the monthly salaries of GMO employees shall have an upper limit of 100000 yen ($882) and a lower limit of 10,000 yen (around $88). The firm also assured that such employees will get an incentive amounting to 10% of the amount opted for. Based out of Tokyo, this internet bigshot entered the digital currency space back in May 2017 when it opened a crypto exchange. Digital services such as web hosting is offered by this company which announced the launch of a brand-new crypto mining operation in September which is going to commence from the first half of the upcoming fiscal.
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