A platform that allows employers to pay workers in a constant stream has added support for four cryptocurrencies.
Sablier, an Ethereum blockchain-based project that allows clients to pay freelancers and consultants by the minute, quarter-hour, hour, or day, now allows payment in synthetic USD (sUSD), wrapped BTC (WBTC), wrapped ETH (WETH), and CHAI.
The system works by letting employers make a one-off deposit before the contract starts “allocating” the funds to the employee at a set rate.
A spokesperson said: “On Sablier, time means money, literally. As a worker, you see your earnings increasing in real time in the Sablier wallet.
“As an organisation, our technology helps you get rid of the hassle of payroll admin.
“After a one-time deposit, our smart contracts will start ‘streaming’ the money towards the payees, without you lifting a finger again.”
We just added four new tokens in the Sablier interface:
🍵 Chai (CHAI)
📈 Synth USD (sUSD)
🔷 Wrapped Ether (WETH)
₿ Wrapped Bitcoin (WBTC)
— Sablier (@SablierHQ) January 16, 2020
The company says it offers both workers and employers flexibility and reduces payroll and HR costs.
The spokesperson added: “Projects like Sablier provide an extra incentive for companies to switch to a crypto-native solution and provide optionality to their employees.”
Blockchain experts claim all sectors and industries can massively benefit from smart contract technology.
There are many advantages of using smart contracts in administration as they can replace intermediaries and save businesses a lot of money and time.
They can even be used to tackle grifting and bribery in governments.
Ghana-based consulting firm NikGroup International has tried to pressure the country’s officials into further adoption of blockchain technology.
It contends that this is the only way to break with the country’s vicious cycle of corruption.
Want to find out more about smart contracts? Click here for Coin Rivet’s in-depth guide.