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Bitwage gaining traction in India for payment of wages

Bitwage gaining traction in India for payment of wages

Bitwage, a firm designed to enable easy paying of wages in Bitcoin has begun rolling out it’s services to India. It is clear that the Indian government is striving for a cashless society in the phasing out of many notes. The Bitwage platform is accessible to users of the internet, apple and android devices.

This enables employees, contractors, and even local businesses in India to sign up for the service and it even enables payments from international companies to be paid in Bitcoin to Indian workers. One of the reasons for their development of the service is to solve the problem of ridiculously high bank transaction fees and processing times. Cryptocurrency has removed the monopoly from banks to some degree.

It is crucial that the Bitcoin community comes to a consensus on the block size debate, such as adopting Segregated Witness, which is a soft fork and is the best solution to date that has been offered. If consensus is not come to soon before Bitcoin sees even more widespread adoption in a country the size of India for example, this would have the potential to stall the chain. Bitwage has appeared in India due to increased demand in India.

 

Many also believe that Bitcoin can be a safe investment in a country such as India and it is easy to move in/out of the country. This truly is helping borders become less of an issue to transfer wealth around the world.

Bitcoin is coming into it’s own and it is likely to see great uptake along with cryptocurrency in general, especially in countries which do not have a lot of infrastructure, they are likely to invest in the newest technology so will likely be the first to adopt it fully.

This is great news for those wishing to get paid in Bitcoin as it seems like it is on the horizon to be able to be paid your wages in Bitcoin. It can also as Bitcoin is deflationary see your value increase for holding it, akin to how a savings account pays you interest.