Paying Employees in Crypto

Hello Everyone,

So Nash Pay will have a platform for each business to interact with their Nash Pay platform , informations and settings etc.

Are Nash looking into the idea of utilising this platform so that the business can pay employees in crypto?

From my understanding, this should only require linking the individual platform of the businesses Nash Pay account to banking partners and the matching engine API’s.

This of course will strengthen Nash feedback loops. When the next wave comes strong, many people will be interested in being paid with crypto.

Thanks!
@canesin

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To be honest, I don’t think the world is anywhere near this point yet. Being paid in crypto right now is downright irresponsible. It’s such a gamble still, and there’s no guarantee it will maintain its value.

Not to mention, you’re typically paid in currency for working. What currency currently exists in crypto? Bitcoin is obviously a store of value, and behaves terribly as a true currency. Nano? Questions around centralization. Tether? They seem to print tokens when the mood strikes.

The only way it would make sense for your wages to be paid in crypto is if Libra launches successfully. It’s pegged, the whole world will use it, and there’s very little chance of an exit scam.

I’m as bullish as anyone else here for Nash, but I’m not willing to substitute fiat for NEX.

I would think based on the platforms capabilities any type of payment is possible as long as the FIAT on/off ramps can be linked to bank accounts and not just the credit cards.

For example - Company X Uses a ceridean type payroll system for social insurance and federal tax withholdings. Instead of the remaining net pay going to the employees direct deposit it would hit the FIAT On Ramp to Pay Salary in USD, which then converts to BTC/ETH/NEO through the DEX, which then lands in the employees Account/Address. All verifiable through the blockchain address.

Maybe @canesin can correct me If my understanding is wrong, but I think the possibilities are endless.

It seems New Zealand is looking to make it legal for businesses to pay their employees in Bitcoin, likely for tax reasons. So I guess it’s more possible than it was two weeks ago.

There’s certainly a market for it

@Trust_Yourselves that is certainly one application. Specially in modern workforce setups where is normal for workers to be individual company contractors or people provide services as freelancers. They could send a invoice via NashPay :smiley:

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I’m thinking more towards the view of a small retail business that has the option to send the weekly wages to their employees via their Nash Pay Dashboard, directly to their employees Nash Pay Mobile account.

You can build that product :wink: … Nash provides the platform.