Business owners and employees are often stuck in an endless loop of 2 week pay cycles. Why not pay/ get paid at the end of every day/ hour? Seems like a lot of opportunity with crypto in the payroll solution space.
True. I worked construction in the Summers during college, foreman wouldn't pay us till end of day Friday because the foreman said if they paid in morning, many'd be gone after lunch.
I foresee a time clock/ smart contract solution that pays as soon as you leave for the day. I more payroll headaches for employers, and you get paid at the end of each shift.
Yeah, but that has the same problem as the GP, how do they make sure you were actually working?
You still have a manger/ owner as a witness verifying attendance/ productivity. This just streamlines the payment channel.
in the worse case 4 agents are need: manager who count hours/results -> hr: gathered total info -> accountant : prepares payment -> bank : processing salary on date.
Most companies are so lost with payroll they hire “staff leasing” companies to deal with all the nonsense. Imagine just doing away with all that.
nowadays it is possible to solve the whole puzzle and make this process more efficient.
current money processing is just of the iceberg :) biggest problem is absence of automatization of payroll process.
