Binance Coin: The mass adoption of cryptocurrencies has been the most debated topic in the Crypto industry. There are many reasons why they can’t be mainstream right now and many reasons why they should be. But no one knows what it will take for cryptocurrencies to become mainstream. Some think that it will be a single big event, but the truth is that mainstream adoption must start from all of us and from big corporations. Waiting for governments to do something isn’t practical, so the change should start from businesses and the people, and if businesses offered Crypto salaries then the adoption process will receive a kick-start.
There aren’t many businesses that offer their employees the option to be paid in crypto, but if more and more businesses start offering crypto salaries then we might see a wider adoption. The main problem that businesses have is that Cryptocurrencies aren’t regulated by a centralized authority figure that decides the value of tokens and coins. Businesses are hesitant, because of the volatile nature of cryptocurrencies. Their price is decided mainly by the supply and demand, making the Cryptocurrency market a free market.
There are few examples of giant companies embracing crypto salaries, but the Japanese giant and one of the country’s biggest tech companies – GMO Group has been one of the exceptions. Ever since December of last year, the company is offering their employees the option to be paid in crypto. The GMO Internet Group is contributing to the development of digital currencies by promoting them throughout the group and promoting adoption efforts.
Binance is another bright example, employees chose to be paid in Binance Coin
Binance is one of the best examples of companies embracing Cryptocurrency salaries. It became clear recently that around 90% of Binance employees prefer to be paid in Binance Coin (BNB). The CEO of Binance, Changpeng Zhao told this to the founder of TechCrunch, Michael Arrington and he was really impressed by the fact. He tweeted that 90% of Binance employees prefer to be paid in Binance Coin and he noted that these people have made a smart decision.
— Michael Arrington (@arrington) August 18, 2018
Binance Coin is the native coin of the Binance platform and exchange. It was released by the company in 2017, so they can gather capital to fund their massive project. It was a great move, because Binance managed to become the world’s biggest cryptocurrency exchange. Binance Coin (BNB) will be used by the company to fund their operations, development and more. In return to the people, Binance has been buying back their Binance Coin with the profits from their business, giving back to the community.
Paying its employees with Binance Coin makes Binance a great example of a company that embraces and works hard to achieve Cryptocurrency adoption. Furthermore, Binance has started a crypto fund with Binance Coin that will be responsible for accelerating and improving the Cryptocurrency ecosystem. Currently, Binance is working on creating a decentralized exchange with Binance Coin as its native token and a mystery project called Binance Chain that will further utilize Binance Coin.
Binance Coin has been hailed by many as a great investment and it will be interesting to see how Binance will continue their legacy and create great infrastructures to pave the way for the crypto community. In my opinion, BNB is more than a great investment. You can use it to halve your transaction costs at Binance and it will be interesting to see where BNB use cases will lead us. Michael Arrington called Binance employees smart people for chosing Binance Coin over fiat currencies and i believe that in the near future many will understand why.
Know more than others on any Blockchain Party!
Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise.