Reasons

It has been a long time since companies associated with developing blockchains and media belonging to cryptocurrencies have been making payments to their employees with cryptocurrencies. Although, we should notice how times are changing because mainstream companies are starting to pay their employees in bitcoins.

A Japanese internet provider services for both the market consisting of consumers and enterprise known as GMO Internet Group has introduced a system in which it pays a portion of its employees’ salary in bitcoins.

GMO Internet Group has their headquarters located in Tokyo and is reported to have over 60 companies in around 10 different countries. Considering the size of the group and their financial strength, this decision is supposed to help to adapt to the mainstream habit of paying employees in cryptocurrencies.

This decision is influenced partly by the wish to promote Bitcoin more as it is strategic importance for GMO. Also, this group is relentlessly active in the sector of bitcoins associated with mining and trading while at the same time associating with the procedures of developing hardware for mining purposes. Hence, if anything is beneficial for bitcoin it will have some welfare for GMO simultaneously.

An exchange for virtual currency was created by GMO is May 2017, which was initially known by the name of ‘Z.com Coin’. Later, it was changed and now it is known as ‘GMO Coin’. This exchange features facilities such as FX for cryptocurrencies and enables users to trade on both computers and smartphones. This exchange allows two types of cryptocurrency trading services. Firstly, we can use it to perform cryptocurrency FX which is basically  bitcoin margin trading over a counter and secondly, cryptocurrency trading. This allows transactions of cryptoocurrency in JPY while also allowing basic activities such as allowing consumers to trade bitcoins and perform transactions related to virtual currencies.

GMO stated that they are going to start a new business for mining bitcoins in the near future, in September 2017. They said that they would start investing for the purpose of research and development along with hardware manufacturing which includes an advanced mining chip. Their next generation mining centre is rumoured to be putting renewable energy to use. They added that they are going to use 7nm processing technology for the chips that are going to supposed to assist in the procedure of mining. Also, the business is reported to be scheduled to be launched in the month of January 2018.

GMO believes that virtual currencies is going to evolve into the universal virtual currency which would be available to any individual from any location on the planet who is willing to exchange value without restrictions. According to their opinion, this can help to create a brand new, borderless, region for an economy.