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90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB

90% of employees at major crypto exchange binance receive salary in bnb

90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB


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At the Liechtenstein Cryptoassets Exchange (LCX), Binance CEO Changpeng Zhao told TechCrunch founder Michael Arrington that 90 percent of the exchange’s employees receive their salaries in BNB.

“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,” Arrington said on Twitter.

Setting an Example

BNB, also known as Binance Coin, is the native token of Binance, the world’s largest cryptocurrency exchange. Binance released BNB in 2017 to garner enough funds to finance the operations and development of the exchange and in return, the company has been buying back BNB with profits generated by the business.

In a discussion with Arrington, CZ disclosed that 90 percent of the employees at Binance choose to be paid in BNB for their contributions to the company, making Binance one of the few commercial businesses in crypto that pay the majority of its employees in crypto.

Throughout the past few months, various companies and projects have attempted to set an example to the mainstream by leading the adoption of cryptocurrencies and decentralized applications.

For instance, ETHBerlin, the biggest Ethereum meetup and conference in Germany, has voluntarily replaced all of the centralized services the event previously relied on with decentralized alternatives. Since early August, ETHBerlin has started to use dApps to livestream its events, book hotels for speakers, and to conduct raffles, among other operations.

“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,” the ETHBerlin team said, adding that the mass adoption of crypto and blockchain-based solutions will only take off if projects, companies, and initiatives in the cryptocurrency sector kickstart the adoption process.

Outside of compensating its employees who prefer to be paid in crypto with BNB, the Binance team has led various initiatives including the development of a decentralized exchange and a blockchain project accelerator to improve the sustainability of the global cryptocurrency ecosystem.

Convincing the Mainstream

The only major multi-billion dollar conglomerate that is said to be offering employees an option to be paid using cryptocurrencies is Japan’s GMO Group, one of the country’s largest technology corporations.

Since the establishment of its cryptocurrency mining business and its Bitcoin mining equipment manufacturing venture, GMO has been offering to compensate its employees in crypto.

“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,” the company said in December of last year.

Cryptocurrencies are consensus currencies that are operated by a decentralized group of users, node operators, miners, and developers. No central authority exists to dictate the value, usability, and adoption of digital assets.

In order for cryptocurrencies like bitcoin and ethereum to be widely adopted by the mainstream, companies within the crypto sector will have to begin setting a precedent in an attempt to demonstrate the potential of decentralized systems.

Featured image from YouTube/Piergiorgio Borgogno

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Published at Sat, 18 Aug 2018 20:47:24 +0000

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NAGA Will Take You to the World of Virtual Goods with Real Profit

Shopping dynamics and shopping itself have dramatically changed since the first store appeared in ancient Rome. Not only can we buy and sell goods and services from the comfort of our own home, but the nature of our purchases has undergone dramatic changes.

Looking back in time when Richard Sears first introduced his catalogs back in the 1800s, unlocking opportunities to buy from home, we can, without doubt, see that his legacy lives on. It has evolved, however, and moved into the virtual space. It may seem like nothing really changed, the new, virtual world has eased its way into our lives. However, it is also clear that thanks to the newfangled idea of virtual and augmented realities, in 10 years time, today’s shopping experiences will look incredibly outdated and may become obsolete altogether. While it seems far-fetched and yet unclear how widespread VR technologies will become over time and whether or not they will be used by everyone to buy goods in the real world, the gaming industry is already on the path to creating a virtual reality ecosystem for gamers around the globe.

Gaming is an immersive and experience-driven world with a lot of action in it. This new virtual universe is creating a virtual economy with virtual goods. Look close enough and you will find that we are witnessing a clash of the real with the virtual since all virtual goods can be purchased online with very real money. Today people spend billions of dollars on virtual goods every year. Virtual goods which, no matter what shape or form they are, and what features they have, are nothing but a series of 1s and 0s that are stored on some remote server. What’s more – the virtual space is developing and generating huge revenues. The driving force of this development lies in the fading barriers of people’s offline and online presence. Virtual markets are exploding as users purchases are not limited to swords or other armor to use in gameplay but also presents, ads, cryptocurrencies and so much more. Every day hundreds of thousands of transactions take place through marketplaces like eBay and Amazon. All these purchases increase people’s overall satisfaction creating real value.

Any boom is followed by tech innovations and development. One of the leading companies in this field is NAGA. NAGA is a German FinTech company that has been listed on the Frankfurt Stock Exchange since July 10th when NAGA successfully carried out its IPO. Within just a few months NAGA’s stocks have  increased in price per share by more than 400%. NAGA is developing cutting edge technologies for capital markets and gaming. They are aiming to create one unified platform to trade both financial and virtual goods. Current financial and virtual markets are still struggling with security and vulnerability issues that NAGA will overcome with the help of blockchain technologies. On the way to unifying two worlds, NAGA is creating the NAGA Wallet to bridge its two major projects – SwipeStox for trading and Switex for virtual goods exchange. To fuel the NAGA ecosystem a token will be deployed. The NGC token will be  used as a currency. NGC will give any user access to virtual in-game goods via various platforms. Powered by the blockchain it will create a transparent cost structure and allow cashback through sophisticated frameworks. Decentralization deployed through the blockchain offers vast opportunities for users to take advantage of in the evolving virtual economy.

To make complicated markets simple and fun, NAGA has created a unique solution Switex, a virtual goods exchange. This will be the first legal ecosystem for virtual goods, that will help various users profit from using it. Users will be able to buy virtual goods directly from a publisher or from other users, creating primary and secondary markets of virtual goods. Switex will enter the gaming market first and then expand to other virtual products.

By offering primary and secondary market items, NAGA aims to unite the best from both eBay and Amazon.

NAGA with their unique solution Switex is aimed at legalizing all markets of virtual goods. Switex also aims to ensure the safe and correct transfer of virtual goods between users.

NAGA is advised by crypto professionals: bitcoin.com founder Roger Ver, bitcoin.com’s COO Mate Tokay, and Miko Matsumura of Pantera Capital.

NAGA’s pre-sale started just a few days ago, but they have already sold over 50% of the pre-sale’s allocated tokens. Moreover, the predictions are that the price of NGC (NAGA coin) will reach $4.5 after it is listed on the top cryptocurrency exchanges.

Hurry up and join NAGA at the current pre-sale stage!

To find more about NAGA project and Switex visit NAGA website.

Join NAGA’s Telegram chat.

The post NAGA Will Take You to the World of Virtual Goods with Real Profit appeared first on NEWSBTC.

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