Business Opportunity: Why Pay a Salary When Blockchain Can Do It for You?

One of the constant costs of any company or individual entrepreneur is the salary of subordinate personnel. These can be employees in the company's staff, or employees who temporarily perform certain tasks. The reduction of these costs leads to a decrease in the number of employees or to a decrease in their qualifications. However, modern solutions, in particular blockchain, are able to offer a solution to this problem.

Thanks to the blockchain, the company can lock a part of its investment for a certain time without losing it. Thanks to this, the blockchain will automatically reward your employees.

Let's consider this mechanism in more detail.

What is the Steem Blockchain

Steem is a social blockchain protocol designed to incentivize the participation and the sharing of content in decentralized networks.

One of the most popular platforms on the Steem blockchain is Steemit.

Steemit is a blockchain-based blogging and social media website. Users can gain a cryptocurrency, more specifically STEEM, for publishing and curating content (i.e. posts). Users can also be rewarded with STEEM based on their comments.

In simple words, it works like this. Authors publish posts. Other authors vote on these posts. Both authors and those who voted receive rewards from the blockchain. The size of the rewards depends on how many STEEM tokens are locked in the account voting for the post. The more STEEM tokens locked in a specific account, the more rewards it and the author will receive.

How can blockchain pay your employees?

Let's consider a specific step-by-step scheme.

1. The first thing a company needs to do is create a curation account. At this stage, investment is required, but you do not spend it and can return it at any time. Investment is required to buy STEEM token and lock it in the account.

Let's say you bought 1,1M STEEM, transferred it to your account and locked it by doing a process called Power UP. As of 16.01.2024. your investment will be $258,500, which is significantly less than the cost of a single industrial compressor.

Now your account is able to give 10 votes for 10 different posts every day. The posts will receive about 13 dollars each. Half of this amount will go to the author, and half to your curation account.

2. Each of your employees must create a free Steemit account.

3. At the end of each working day, they publish a report.

3. With your curation account, you reward each report. If an employee worked 20 working days in a month, he will receive $130 from the blockchain. If this is not enough, you need to create a more powerful curation account.

Advantages of this method

1. You don't spend money and employees will receive salaries.

2. You don't waste the investment. Purchased STEEM can be sold when the curation account is no longer needed. You will get your investment back.

3. Your investment is working. The curation account will earn rewards and the amount of your STEEM will constantly increase. Moreover, even if you do nothing, part of the newly generated Steem will be distributed to all users who are holding SP.

Risks

There are certain legal risks, because your employees will be doing work without receiving an official salary. Each specific case in each country must be considered separately. These may be employees performing temporary work, subcontractors, etc. You can pay employees an official salary, and blockchain can pay a bonus, etc. This is a field for reflection.

Another risk is that the value of the STEEM token may decline. However, you will save money on salary and earn more STEEM, so even then the losses will be minimal.

Conclusions

This solution can be applied to both large companies and small entrepreneurs. It will reduce or even eliminate your constant salary expenses. It is flexible and can be adapted to different conditions.