PayPal has chosen to use the blockchain to motivate its employees.
PayPal is riding the growing popularity of blockchain technology and an associated token. How? ‘Or’ What ?
The online payment service indeed uses a cryptocurrency to motivate its employees.
Blockchain use in business
The token in question cannot be exchanged for cash but can be used within the group.
The goal is to give employees a practical view of blockchain technology.
Thus, the platform’s blockchain was developed in the space of six months by a small team at the PayPal Innovation Center in San Jose with the aim of familiarizing that team with the technology.
It will serve as a register for the tracking and trading of tokens that can be used to claim internal company rewards.
Cryptocurrency rewards to motivate troops
While they have no exchange value beyond PayPal’s internal affairs, tokens can be redeemed for dozens of experience-based benefits, such as participation in leisure activities.
Each employee will be allocated a certain number of tokens, which can then be increased following the proposal of innovative ideas, by participating in company programs and by trading.
PayPal, which has been exploring the blockchain for two years now, is also interested in encrypted payments. In March, the company filed for a patent across the Atlantic describing ways to speed up crypto transactions using secondary private keys.
But, some believe that PayPal then tried to patent a technology previously developed by the Bitcoin Opendime hardware wallet.