According to executives in the human resources industry, the political and economic conundrum around the world might inspire people to receive their pay in cryptocurrencies like Bitcoin (BTC $30,710), stated Cointelegraph.
Sources revealed that other factors have also contributed to the rise in ther demand for cryptocurrency-based salaries. It is believed that the factors includes the increasing acceptance of cryptocurrency as a legalised payment method, growing education and new technological developments, Cointelegraph added.
“Some regions experiencing political instability, hyperinflation or restrictive financial systems have seen an uptick in cryptocurrency usage as an alternative means of conducting transactions,” Michael Brooks, co-founder, CEO, goLance, explained.
Furthermore, “We see that countries facing more political and currency turbulence continue to use cryptocurrency, particularly withdrawals in USDC to combat volatility,” Dan Westgarth, chief operating officer, Deel, a human resources and payroll platform, told Cointelegraph.
(With insights from Cointelegraph)