The high- tech sector from Israel has developed a lot ultimately. The companies proposed to pay Bitcoin salaries, but they didn’t receive an answer yet. There is a big competition between employees. That’s why the high-tech companies proposed the payment of the salary in Bitcoin.  The high-tech companies must compete with bigger bonusses for the employees and stock options.

Spot.IM Wants to Pay Bitcoin Salaries

An Internet company from Tel Aviv, Spot.IM, is in discussions with Israel Securities Authority (ISA) to pay the employees’ salary in Bitcoin. The major problem in this process is the exchange rate of Bitcoin. The Internet company also brought into attention to Labor Ministry the payment with Bitcoin of the salaries. The officials of Labor Ministry are looking for a solution into the subject. The employee could accept the total paycheck in Bitcoin, but the conversion fees must be paid in Shekel.

Spot.IM is not related with the cryptocurrency system, but with the Internet industry. Spot.IM helps the media website with the social engagement and comments section. The most important clients od Sport. IM are: Time Magazine, NBC, Huffington Post, Engadget, Fox News and other big names. Since 2012, the company had a profit of $38 million and in November Roman Abramovich and other capitalists brought another $25 million in Series C.

Can They Make Banks Trust Bitcoin?

Ido Goldberg, Head of Spot.IM’s operations in the country, told Israeli newspaper Calcalist that: “As ones who deal with some of the most advanced technologies every day, we are great believers in the future of cryptographic currencies. Still, currencies are built on trust, and to create such trust companies, organizations and institutions will have to recognize cryptographic currencies as legitimate.”

For the moment, the Israeli law doesn’t recognize the Bitcoin as a currency or security. The plan is to not complicate the things with the bank system by getting a seal of approval from the state.