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Tokenizing Salaries and stock options – Considerations for compensating employees in cryptocurrencies

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Tokenizing Salaries and stock option for compensating employees

If we were to live in a world driven by Artificial Intelligence run on Blockchain, we cannot rely on old methods of commerce. One of these is how compensating employees in advanced way.

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Binance compensating employeesBinance made news when they disclosed that 90% of their employees choose to get paid in BNB Tokens. There were many companies that disclosed that their employees were given a choice of receiving a portion of their salary in Cryptocurrency.

While 2018 was a letdown year in the cryptocurrency space, it has been an encouraging one for the Blockchain space in general. Many of the Fortune 500 companies have been exploring the use of Blockchain technology in their business.

In view of the potentiality that we may see employees getting paid in cryptocurrencies, we will look at various aspects related to tokenizing salaries.

In this article, we will discuss:  

  • Legality of virtual currency in your country
  • Does your country allow it?
  • Will you pay in tokens, coins or stable coins, and why it’s important to know?
  • Benefits of paying in Crypto
  • Pitfalls of paying in Crypto
  • Can you pay 100% in Cryptocurrency?
  • Legally written consents from employees
  • Volatility as a primary factor
  • Tokens in lieu of stock options
  • Lock-in considerations
  • Insider trading considerations
  • Sec 83(b) considerations
  • Signature considerations
  • Employee advance tax payment considerations
  • Valuation considerations
  • International workforce
  • Don’t forget the Tax withholdings

Legality of virtual currency in your country for compensating employees

Virtual currencyThe first question you need to answer before going Crypto compensation route is the legality of virtual currency in your jurisdiction.

For instance, China and India have not taken a friendly stance on crypto and it is a good bet that, at this time, these countries would not allow salaries paid in Crypto.

In the United States, you have to be careful about the minimum wage and State regulations requirements of the State in which you operate and whether that State particularly allows you to pay in cryptocurrencies.

Good References here:

https://blog.goodaudience.com/can-you-pay-your-employees-with-cryptos-96d37195b226

https://www.blockchainandthelaw.com/2017/12/legal-ramifications-of-paying-employees-with-cryptocurrency/

Does your country ALLOW it?

crypto friendly countryJust because crypto is not banned or even encouraged in the fintech space in your country doesn’t automatically grant you rights to pay in crypto.  For instance, the basic compensation payout may be forced to be paid in ‘fiat’ currency.

Supplemental income like bonuses, allowances or stock options etc. may be allowed to be paid in whatever employer and employee agree on, including virtual currencies.

IRS Notice 14-21  clarified that virtual currency can be remitted for goods and/or services received, including wages.  However, both Federal and State regulations may need for a certain amount of income to be paid out in fiat currency to meet the federal, state and social tax withholding obligations since most of the States do not accept crypto tax payments.

Germany has opined that claim for salary remains outstanding if it is not settled in Euro, however, it doesn’t imply a prohibition on paying in crypto for benefits-in-kind (benefits that Employer chooses to pay but is not obligated by law).

Will you pay in tokens, coins or stable coins, and why it’s important to know?

pay stable coins compensating employees

Another good reference here:
https://www.nanalyze.com/2018/09/utility-tokens-vs-security-tokens/

Tokens can be further segmented into utility tokens and security tokens.  Paying compensation with utility tokens may not pose many complications (other than your compensating employees agreeing to receive them in-lieu of compensation), however, paying in security tokens will need to be in line with stock option rules, including statutory income tax withholding implementation (which still happens in traditional fiat).

When you pay out in coins, the fair market value as of the date/time of the payout is captured for compensation reporting purposes.

Stable coins probably might become a staple thing in the crypto space since they fit both the notion of ‘crypto’ and guarantee of ‘fiat’.

How the accounting, payroll, tax withholding, and payout structure works really depends on what you offer to your employees.

Obviously, there is ample room for interpretation since most Government agencies around the world, including the United States, have not provided clear guidance around token salaries or other forms of crypto transactions.

Benefits of paying in Crypto

advantages of crypto

Why talk about paying in Crypto unless they provide certain benefits?

Here are some:

  • Increases employee engagement: when you know the value of your tokens (similar to stock options) depends on the success of your company

 

  • Increases employee retention: the tech industry faces one of the worst retention rates, having conditional vesting of crypto (in the format of stock options) helps retain employees for the long run
  • Global demand: Unlike stocks, you are not restricted to just one geographic location – you can sell your crypto on exchanges that trade and have a global market place. Of course, this global demand is true for successful projects
  • Long-term compatibility: Bitcoin went from $1800 in Mid 2017 to $19000 by the end of 2017 and settled around $4000 by end of 2018.  If you were to just look at year on year trajectory – Bitcoin has done marvelously well than any other asset class, however, imagine getting paid in Bitcoin when it was $19,000 and sitting on it today when it’s only worth $4,000.  That kind of massive volatile risk is not an issue with fiat incentives or traditional stock options.  If you tie company tokens as an incentive – it could encourage employees to stick around longer and work harder.

Pitfalls of paying in Crypto

Disadvantages of crypto

It’s not all rosy and dandy – there are some pitfalls of paying in crypto:

  • Freefall Crypto can fall to a value of zero.  Many projects since their inception have. For this reason, employees may not want to be paid in a currency that may one day have no value
  • Lack of regulatory guidance: Recent SEC actions have put crypto space in a panic state. No one knows what type of action SEC is going to take against Crypto companies and how that impacts the value
  • No protection: Federal Trade Commission has been warning people about the volatility issues with transacting in Bitcoins, FTC has even warned that there is no government protection available to people dealing in cryptocurrencies that are otherwise available to traditional financial instruments.

Can you pay 100% in Cryptocurrency?

As we discussed earlier, and it bears repetition, many jurisdictions have restrictions on how the base pay is paid.  This restriction makes sense in the current economic model since most Government, especially National agencies, have not come to accept cryptocurrencies as legal tender.

The answer for most jurisdictions is that – you cannot pay 100% in cryptocurrency.  Even for most progressive companies and employees – this restriction acts as an anchor to the old fiat system.

Legally written consents from employees

As progressive and accommodating as your employees may be – it is very important to have written confirmation that your employees have agreed to receive their bonuses and supplemental wages in cryptocurrency (whether it is your own company tied crypto or crypto from the market).

Having written consents that disclose the risks of accepting cryptocurrency in the current financial system and possibility of them losing all of their value and point about them being issued at fair market value at a certain date are all important aspects you want to include in the letter, will help you any legal proceedings down the line.

Volatility as a primary factor

crypto volatility

If you ask HODLers – they will tell you that ‘Volatility is the worst thing’, while day-traders may say volatility is the only reason they are in Crypto space.

Employees are different than HODLers and traders – they have other tasks to do – like making your project successful.  When thinking to issue tokens in lieu of compensation consider incorporating some kind of safety threshold so that employees are not always worried about the market, that takes their focus away from the project.

This safety threshold might include – locking some value of crypto in stable coins or having collateral in fiat, or tying physical assets (like real estate) to the tokens issued, etc.

Tokens in lieu of stock options

crypto and stocks

We expect 2019 to be the year when Security Tokens (STOs) will become popular.  STOs will mark a massive shift in the financial market and how capital is accessed.  When the rules become clearer – companies working in the crypto space can legitimately use ‘crypto’ instead of traditional securities.

For now, based on what we know to apply for the traditional stock options, here are a few considerations you must think about when paying stock options in crypto: 

  • Lock-in considerations
    • How long does it take for the restrictions to pass? Is it too soon or too taxing?
  • Insider trading considerations
    • Being so integral within the company – will you run into insider trading issues down the line? Will tying employees with crypto backfire when an insider trading news breaks out?  What countermeasures do you have in place to save the brand/company?
  • Sec 83(b) considerations
    • Will employees have the option to elect 83(b) election? Many industry experts weigh in that restricted tokens should fall within the purview of 83(b) that help taxpayers make the election to get taxed on grant instead of at vesting.  The clock for capital gains treatment then starts on Grant date.  This is a positive thing for the company because the employee is betting on an increase in company and its tokens worth.

From employees standpoint – this is a risky deal especially if the said tokens fall in value – the taxes paid ahead on ‘fair market value’ will not be recoverable.

  • Signature considerations
    • How are you collecting signatures when (and if) you end up issuing security tokens with restrictions? What framework do you have to issue security tokens and have employees provide their consent to the vesting schedule and restrictions?
  • Employee advance tax payment considerations
    • All of our discussion assumes that employees are willing and able to pay taxes in regular fiat while receiving stocks in tokens. Even if employees want to sell some of the crypto tokens to pay for taxes – there may or may not be market to trade for specific tokens. In such a situation – how are employees going to accommodate tax payments?

Valuation/liquidity considerations

2018 crash of crypto market is a stark reminder for all of us as to how things can turn.  Many projects were wiped out of the crypto world due to liquidity issues.  What happens if your company faces such a crisis and there is no one to buy the tokens?  How then are these employees going to be made good?  Is there a buy-back program? If so, will the company be able to sustain such plan and still thrive in business?

International workforce

crypto adoption

Companies like Bitwage and SalPay are accommodating paying in crypto and seamlessly convert them into fiat (or other cryptos) on the receiver’s side, no matter where the receiver lives.  They boast the ability to comply with the payroll regulations in many jurisdictions.

Of course, there is the cost of service, but if successful, the cost may be minuscule compared to the benefits.

International wage settlement will become much simplified when cryptocurrencies are used, as they are valued/accessible/deliverable globally.

US dollar will not be the same in India but Bitcoin is a Bitcoin no matter which part of the world you live in.  While we are still working on adoption – once crypto is accepted in more locations – these international pay settlements in crypto could become THE norm.

Don’t forget the Tax withholdings

As an employer, you are required to withhold taxes on ALL income paid to employees.  This means – both employer and employee tax remittances have to be made in national fiat currency.  Do you have a plan and reserves to meet these withholding requirements in fiat while you deliver some of the compensation items in crypto?

Conclusion: Bringing it all together

As you can see, a simple idea of compensating employees in cryptocurrency carries with it a staple of complex payroll, tax and compensation considerations that need to be addressed with professional help.  Ask all the questions ahead of time and not after hitting a regulatory wall.

It is possible to pay in crypto, as long as the all legal and regulatory aspects are addressed.

All of these complications will be eventually addressed in the crypto space and we will see companies joining forces in paying employees in tokens, whether its utility tokens or security tokens.

Thank you for reading this article.

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.


CryptoSpace

Is this the end of XRP?

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XRP Crash

Our dislike for XRP is well documented on our site…if you have missed them, here is a list of articles where we have made our opinion based disdain clear…

Why we do not support nor invest in Ripple

Ripple or not to Ripple? ‘Definitely not’ says a research report

5 questions we want XRP army to answer!

This is not a personal attack, mind you.  

We just don’t like the idea of a private company printing billions of dollars worth of money that is centrally controlled which goes against the spirit of crypto space.  This is our opinion and we are sticking with it.

Yes, we understand that we might be missing out on life-transforming gains on XRP by staying away from it.  It is OK with us. 

We generally do not trade based on sentiment, however, XRP has always been an exception given what we want Crypto space to represent.

Given all that, we were not surprised at all when the latest FUD around SEC investigation into XRP came out.

Is this the beginning of the end for XRP?

“Justice is on the side that can afford the best attorney” is the common joke in my country…and that seems to hold true for the world in general.

If we are forced into speculating, this is what might transpire in our view:

  • When drafting this article, we were of the opinion that SEC might just let this go through a simple fine (similar to EOS), however, after reading the complaint lodged by SEC we are not really sure that Ripple may be able to get off the hook that easy 
  • Ripple and SEC might compromise on a way forward in terms of reporting requirements, however, if SEC gets what they are going for – Ripple and Garlinghouse may not be able to continue their ‘sale’ of XRP
  • Ripple may use this ‘excuse’ to move its headquarters to a more ‘friendlier’ location outside the US, however, an unfavorable outcome from SEC could jeopardise its chances in most locations
  • Major exchanges could distance themselves from XRP until an outcome emerges to avoid getting caught selling unregistered ‘securities’

Is XRP a security?

We think so.  Of course, the court will have to rule the final verdict but here are the reasons why we personally think XRP is not like other cryptos.

  • Most projects actually are working on a solution and the revenue is dependent on the success and adoption of the project.  On the contrary, XRP had minted 100 Billion at the beginning of the project and kept bringing 1 Billion at a time to add cash to their business.  This means, whether or not there is any adoption – Ripple (and owners) made money by simply selling XRP.  At the time of this writing, owners still control billions worth XRP.  
  • Most projects that run an ICO have a majority of coins distributed to the investors…creators have little say in the way those coins then get circulated…take for example, EOS.  Although the company raised $4 Billion through ICO – they got away with a slap on the wrist because the owners do not control the majority of coins anymore
  • Ripple/XRP executives were caught bragging about how they can sell XRP to keep the business going (notice, they talked about selling XRP to make gains more times than the adoption bringing success);  Unfortunately, these talks are all public records and the SEC may use these in the court proceedings
  • Pages 9 and 10 of the lawsuit is really important where SEC claims that Ripple was warned about XRP being considered a security by a law firm, however, Ripple disregarded these warnings…excerpt 57 and 58 from the lawsuit

“57. On May 26, 2014, Larsen explained in an email to an individual formerly associated with Ripple that the international law firm that wrote the Legal Memos advised “that investors and employees could not receive XRP” because that “could risk SEC designation [as] a security.” Larsen also explained that the XRP he received upon Ripple’s founding was “comp[ensation] for . . . personally assuming th[e] risk” of being deemed the issuers of securities—namely, XRP. 

  1. In other words, as Larsen himself explained, he was paid at the outset in an asset (potentially worth hundreds of millions of dollars) to assume a risk he knew existed—that the sale of the asset could constitute an offering of securities for which he would be held responsible.” 
  • There are allegations that Ripple paid companies to use XRP to ‘hide’ the fact that Ripple is difficult/expensive to use (this in the lawsuit), take a read.

“339. Much of the onboarding onto ODL was not organic or market-driven. Rather, it was subsidized by Ripple. Though Ripple touts ODL as a cheaper alternative to traditional payment rails, at least one money transmitter (the “Money Transmitter”) found it to be much more expensive and therefore not a product it wished to use without significant compensation from Ripple.

Is this an attack on the entire Crypto industry?

We do not think so.

If the SEC wins this case, it will set a precedent against having ‘centralized’ control on the projects without being treated as a security, however, it is unlikely to stifle the projects that do not have centralized control on the supply and sale of the coins, in our opinion.

Our whole [opinion] contention from the beginning has been that XRP does not fit the definition of cryptocurrency.  If anything, we are surprised that the SEC took this long to bring the charges.

It does not matter what we think about the project, what matters is the outcome of this battle. 

Will the SEC make an example of Ripple or will Ripple find a way to circumvent these proceedings.

Things might get very interesting going into 2021 for Ripple, Garlinghouse and XRP.Note: We have to do this to avoid harassment from the XRP army, in case you missed it earlier, this is our speculative opinion.  No one knows what might actually happen.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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CryptoSpace

Transforming Data Center Infrastructure With Blockchain

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Blockchain Infrastructure

Cryptocurrency – just hearing the name – can spark discussion topics on how innovative and controversial it is. However, nowadays, there seems to be a consensus that blockchain – the technological backbone of every form of cryptocurrency – is the former. The latter part of the discussion comes from the fact that cryptocurrency is still new, and needs more improvement, before it can actually be considered a wildly-accepted type of commercial (public) currency.

On the bright side, companies like Google and Goldman Sachs have already started to invest in various blockchain firms. And, it’s expected that sometime in the future, more big-name companies will follow suit, if cryptocurrency succeeds. Therefore, data centers and cloud hosting services must be ready to serve these new blockchain-based companies, as well as their needs, in the coming years.

So, you may be wondering: How did we get here? 

How Did It Start?

Modern blockchain started in 2008 with Bitcoin, which is a peer-to-peer Electronic Cash System. This white paper was a form of cryptocurrency that could live on a distributed network without any centralized authority; and blockchain is the technical backbone of that system, or a distributed digital ledger or database for it. No central authority will be able to manipulate the blockchain, since the whole network contributes to its creation and maintenance.

How It Works

In blockchain, two parties will make a transaction, to which they advertise it to the network. Then, various network nodes pick up multiple transactions, and arrange them into blocks. Afterwards, miners will use computers to add this block to the ledger (or blockchain).

Now, in order to add these blocks to the blockchain, the task requires a lot of computing power. Why? Because each of these blocks come with a sort of attached mathematical puzzle. And, to solve these puzzles, they need computing resources. But don’t worry: these puzzles are what miners are interested in, because they’re usually rewarded with tokens, just for adding a block to the blockchain.

Before the existence of blockchain though, business transaction would’ve been made through a trusted third-party company (i.e. a bank or a government institution), in order to guarantee the integrity of a transaction between two parties. However, blockchain eliminates that need by opening up the possibility for business transactions between parties worldwide, without the need for any financial or government institutions to step in. 

What Blockchain Means For GPUs

The need for blockchain means elevated demand for graphical processing units (or GPUs). As blockchain calculates, miners will have to provide enough computing power for it. And, as cryptocurrencies and blockchain-based applications become more popular, the higher the demand for computing power. That’s where GPUs come in, since blockchain-based calculations are best performed on these units. 

Data centers and cloud-hosting services will also have to look into AMD and NVIDIA graphics cards, in order to better serve the blockchain market; however, these graphics cards can be pricey. And, they’ll have to better optimize their infrastructure to be GPU-compatible.

Concerns?

The most controversy that cryptocurrency has faced is its vulnerability to possible hacking schemes. One can argue that there are major concerns about blockchain hackers taking – or planning to take – advantage of the fact that cryptocurrency doesn’t have enough protection yet to sustain itself, in case of a security breach that can cost millions.

Concerns on cybersecurity for data centers, in that case, seems to have spawned from cryptocurrency market’s promise of immense riches and overnight successes, to where anyone – including bad actors and hackers – will create an ever-growing threat in the cyber realm.

“One example of hacking of cryptocurrency was in January of 2018, when hackers were able to steal more than $500 million (or £380 million) worth of cryptocurrency from the Tokyo-based cryptocurrency exchange Coincheck,” adds Barnard. “Thus, that story, to this day, serves as a warning to what can happen, if cryptocurrency is unchecked. And, this story has many people concerned about whether cryptocurrency is safe to invest in or not.”

Conclusion

As you can see, data centers will have to go above and beyond to better accommodate the growing trend of cryptocurrency. And, to do so, they’ll need a good functioning digital infrastructure, to handle blockchain systems and increasing data processing demands.

This need for the right data center infrastructure is also increasing, since blockchain is expected to greatly impact the following:

  • Finance
  • Healthcare
  • Government
  • Transportation
  • Manufacturing
  • Medicine
  • Logistics
  • Other various industries 

Thus, it’s absolutely necessary for data center service providers to stay competitive, when it comes to such changes in technology, including blockchain. Ultimately, with an up-to-date infrastructure for blockchain to work on, data centers will be able to be sustainable, regardless of any changes and or developments made in the tech world for many years to come.

Author’s Bio: Katherine Rundell is a writer and editor at UK Writings and Academized. In her spare time, she likes to travel to different states, give special talks in various business training courses, read her favorite books (ranging in different genres).

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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CryptoSpace

5 Best Crypto Movies To Learn Crypto From

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Crypto Movies

Bitcoin has been around for 10 years. As a result, there are many people who will keep tabs on it and cheer for its modern successes. So today, we want to celebrate along with crypto fans by bringing you a fun article about the topic.

If you thought that cryptocurrency is all business, business, business – well, in actuality, crypto has also made its way into cinema. Yes, in this article, we’ll show you the 5 best movies that involve Bitcoin, crypto, and blockchain. And, the good news is, you don’t have to read really long articles that talk about crypto, when you can watch a fun movie instead!

So if you want to gain a bigger understanding on what Bitcoin is, and why it’s so important in today’s world… or if you want to educate others on why Bitcoin is NOT something out of a science fiction movie (no pun intended), then check out these 5 great movies.

Cryptopia: Bitcoin, Blockchains And The Future Of The Internet (2020)

Cryptopia Bitcoin Blockchains and the Future of the InternetCryptopia is an ideal film for novice cryptocurrency people. So, if you’re a newbie in the crypto world, or want to brush up on your crypto skills, then check out this documentary. 

This film is a deep-dive into the crypto world, and it doesn’t shy away from explaining the good things about crypto, as well as the negative parts of it. Yes, crypto can be both a Godsend and a curse, depending on how you look at the narratives you’ll listen you in the documentary. In hindsight, the movie will explore the story of bitcoin, and how it has managed to evolve through the years with its ongoing promises that crypto is “the future.”

So, whether you’re a skeptic, or you want to learn more about crypto, you’ll get to see both sides of the debate – as a better alternative to regular currency in the future, or a financial disaster in the making. Either way, this documentary will answer any questions that you might have about crypto.

The Rise And Rise Of Bitcoin (2014)

The Rise and Rise of BitcoinEver wondered how cryptocurrency became a thing? Then check out The Rise and Rise of Bitcoin! The film covers the stories of some of the early adopters of Bitcoin, including Gavin Andresen who was famous for communicating directly with Satoshi Nakamoto to help him create better technology. (By the way, Nakamoto is mostly famous for authoring the Bitcoin white paper, and for devising the first blockchain database.

Overall, this movie was one of the major productions to cover the main points, in regards to how Bitcoin and its assets were created to begin with.

The Second Target (2019)

The Second TargetThe Second Target was written by Graham Holliday, and stars Athen Walton. The movie follows a group of local crypto thieves now having their eyes set on their latest target. They kidnap a detective they think is on their case, but end up kidnapping the wrong guy. To make matters worse, the son of the kidnapped man teams up with a stranger, and they plot to stop the thieves’ second heist and save the kidnapped man.

While you’ll be immersed in the action, you’ll be learning the basics of what crypto is.

Trust Machine: The Story Of Blockchain (2018)

Trust Machine understands that almost a decade has passed, since the crypto world has transformed things. Since its existence came to be, many different cryptocurrencies have been created, with a small percentage of them expected to stand the test of time after the dust settles. While some people are still skeptical about the concept of cryptocurrencies, there are some parts of the world where people actually use cryptocurrencies as a way to buy things. However, other places have faced significant problems, as a result of exchanging goods with crypto within the industry.

Crypto (2019)

Crypto MovieCrypto, despite its panning from critics, has garnered somewhat of a fanbase. With a stellar star cast like Alexis Bledel, Luke Hemsworth, and Jeremie Harris, it’s hard to not see this movie. And, with a thriving fanbase, this movie is not only for movie fans, but also for crypto fans. 

The story follows an anti-money laundering agent (Beau Knaff) who reunites with an old friend who’s now into mining cryptocurrency. Now, with a potato farm being on the verge of being repossessed, the two soon investigate a gallery, which may be tied into a multi-million-dollar money laundering scheme. 

It’s action-packed, and it has you cheering for the protagonists as you follow the story from beginning to end.

BONUS: Throwback Movie – Inside Job (2010)

Now, while the film doesn’t directly involve Bitcoin or blockchain, it’s a good appetizer for learning what they are. And, it’s a must-watch!

Inside Job covers the actions that made Bitcoin a household name in the first place. The movie sells the concept as a type of currency that can’t be manipulated, controlled, or corrupted by any government. 

However, the main topic of the documentary involves the late-2000s financial crisis. In 5 parts, the film will cover how changes in the policy environment and banking practices only added more fuel to the fire, rather than stop the crisis in its tracks. 

Critically acclaimed, and winning an Academy Award for Best Documentary, Inside Job will have you on the edge of your seat, as it takes you through the financial crash. All information in this documentary, as well as its controversial topic, are understandable for most audiences, regardless if you know about cryptocurrency or not. 

Conclusion

So, there you have it! That was our list of movies to check out, if you’re in the mood for learning about cryptocurrency. If you want to go down the rabbit hole about the topic, or if you’re in the mood for something different than your usual shows and movies, then head over to Netflix, online, or anywhere where movies are sold, and check out our picks on the best movies about crypto.

We hoped you enjoyed our list, and made it a movie night tonight! As you’ll see in these selected films, they’ll show you how cryptocurrency has changed people’s lives in so many ways than one, and has no plans of stopping. So, get out your popcorn, and take some good notes about crypto! 

Author Bio:

Kristin Herman is a writer and editor at Best essay writers. As a marketing writer, she blogs about the latest trends in digital marketing. In her spare time, she coaches up-and-coming marketers on how to perfect their advertising practices in the ever-evolving market.

For movie crypto movies: Crypto Movie Database

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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