PayPal tests token reward system for employees

Monday 10 December 2018 00:24 CET | News

PayPal has decided to trial blockchain technology by implementing it in an internal incentive platform for employees.

According to Bitcoin Exchange Guide, the platform was built over a period of six months. In order to test it, 25 employees were receiving rewards through this system.

PayPal employees were able to access their tokens using an internal website and earn more by participating in programs and contributing with ideas. The tokens provided to employees have no value outside PayPal and can be tradeable among employees.

The tokens can be redeemable for different experiences related to the company. For example, it might be possible to participate in a poker tournament with some vice presidents, share a coffee with the CFO, or do morning martial arts with the CEO.

Similar actions have been adopted by BBVA in Spain and in Argentina. The company is experimenting with the BBVA Campus Wallet to which employees have access. They can use the tokens and redeem them for an hour of training. At the same time, it is possible for them to earn more tokens if they train another employee. Although banks such as BBVA, Santander seem to be very open to blockchain technology and virtual currencies, they are not allowed to hold cryptocurrencies within the current legislation.

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Keywords: PayPal, tokens, blockchain, reward system, cryptocurrency, trials, tokenization
Countries: World