According to HR industry executives, the political and economic dilemma around the world could inspire people to get paid in cryptocurrencies like Bitcoin (BTC $30,710), Cointelegraph claimed.
The sources revealed that other factors have also contributed to the rise in demand for cryptocurrency-based wages. Factors are believed to include the growing acceptance of cryptocurrencies as a legalized payment method, increasing education, and new technological developments, Cointelegraph added.
"Some regions experiencing political instability, hyperinflation, or restrictive financial systems have seen an increase in the use of cryptocurrencies as an alternative means of conducting transactions," explained Michael Brooks, co-founder and CEO of goLance.
Furthermore, โWe see countries facing more political and monetary turmoil continue to use cryptocurrencies, particularly USDC withdrawals to combat volatility,โ Dan Westgarth, COO of Deel, a payroll and human resources platform, told Cointelegraph.
(With information from Cointelegraph)
