As the global workforce expands, some, like this bitcoin platform, are looking for ways to power international wages. Based in San Francisco, Bitwage believes the cryptocurrency could be used as payroll for contractors and employees who are located in different countries. More specifically, they provide software either individuals or companies can use to set up the payroll system. For individuals, this looks like a digital wallet that can exchange local currency.
The bitcoin platform is speedier than more traditional wire transfers, which can take several business days to be completed. With Bitwage, users can receive bitcoin payments same or next day at a 1% cost (compared to the average 8% with international bank wire transfers).