Binance Exchange Has 9 Out Of 10 Employees Salary Being Paid In BNB
Michael Arrington, the founder of TechCrunch, recently tweeted about a conversation that he had with the CEO of Binance – Changpeng Zhao. The two spoke at the Liechtenstein Cryptoassets Exchange (LCX), where Zhao noted that 90% of employees at his company are paid with BNB.
The tweet said,
“Just one of the interesting things @cz_binance told me this week at LCX event: 90% of Binance employees choose to receive their salary in BNB tokens. Smart people.”
BNB is the token of Binance, which is also referred to as Binance Coin, and it is presently the largest exchange for cryptocurrency in the entire world. It originally launched the token to help them with the financial needs of running and developing the exchange. However, since the business has reached that goal, the company has been using their revenue as a way to purchase BNB back from investors.
There are currently few businesses in the world that allow their employees to receive cryptocurrency as their salary. However, there is been new projects that have been using cryptocurrency in mainstream ways that are opening the door to make this type of currency more user-friendly.
A perfect example of this is ETHBerlin, which is a massive conference that is held in Germany each year. All of the centralized services that the event uses have been replaced with decentralized alternatives. In fact, they have added dApps for livestreaming of their events, making reservations for accommodations, and other functions.
The team said,
“As a responsible, global community, in constant evolution as is our ecosystem, we need to understand that it is not enough to absorb these teachings and foundations and just replicate.”
They also added that the only way that mass adoption will happen at all is if there are initiatives by the crypto industry to get the ball rolling.
Along with the ability to make payments with cryptocurrency to employees, Binance has also been responsible for other initiatives to urge adoption. Some of those functions have included the creation of a blockchain project accelerator and a new decentralized exchange.
Still, the only other company with similar policies for employees is GMO Group in Japan. This multi-billion-dollar company provides a change for worker to choose crypto as their payment. To do this, the company had established their own mining business and setup a mining equipment manufacturing project for Bitcoin.
The company recently said,
“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.”