Zen Protocol – Redefining Asset Trading and Crypto Finance

Zen Protocol is a platform built for finance. We designed Zen to solve a real problem: trading assets without relying on third parties.

Our team is based in Tel Aviv, with backgrounds in maths, finance, design, and marketing. Some of us have been involved in the Bitcoin space since 2011, and we’ve been creating tools to make Bitcoin better since 2013.

In 2016, we began work on Zen Protocol. When Ethereum’s “theDAO” contract was hacked, it became clear to us that a platform designed for financial uses, like creating assets and granting rights, could provide much more security than was available at the time. Since then, we have been working on a new architecture that makes finance on the blockchain safe, fast, and useful.

Zen Protocol uses an all-new codebase, with built-in tools that stop bugs from ever making it into the smart contracts you use on the platform. Zen will let you create and trade any sort of financial asset, with a modern system for using real-world data, and with links to the Bitcoin network. All of this is running right now in our testnet.

Our crowdsale began on the 30th of November: over two-thirds of tokens have already been sold.

Here are a few key points about Zen:

Safe. The Zen Protocol uses a custom language, ZF*, that lets developers prove their contracts work correctly. Not only does this make contracts safer, it reduces development cost by accelerating testing and due diligence.

Fast. Contracts are “proof of cost”, meaning that they show how long they take to run before they enter the Zen blockchain. This lets Zen Protocol can compile contracts, making them much faster than contracts on other blockchains.

Useful. We’ve implemented an architecture for Zen that makes it easy to create and trade real-world assets. Any kind of asset or token on Zen Protocol is compatible with any contract, and oracles link products on Zen to any sort of data from the outside world.

Check out our blog, pitch deck, and Telegram group, and view full details of the crowdsale. For inquiries about partnerships and other co-operation, contact us at info@zenprotocol.com.

How will Zen Protocol change how smart contracts are created an what impact will it have on future blockchain applications? Let us know what you think in the comments below.

Images courtesy of Zen Protocol

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Zen Protocol – Redefining Asset Trading and Crypto Finance

GMO Internet to Pay 4,000 Employees Using Bitcoin

A Japanese company has taken the bold step of opting to pay their employees using Bitcoin. GMO Internet is a firm dealing in web-related matters. These include finance, advertising, and internet infrastructure. In an effort to get more familiar with cryptocurrency, they’re trialling its use as a payment method in a professional setting.

Employees at GMO Internet can opt to have up to 100,000 yen of their salary paid in Bitcoin every month. This is equivalent to around $900. The rest of their rate will be topped up with traditional currency. It’s also not compulsory, and workers at GMO Internet can still elect to be paid their entire paycheck in yen.

Harumi Ishii , a spokesperson for GMO internet told the UK’s The Guardian newspaper:

Employees can receive salaries by Bitcoin if they want to… We hope to improve our own literacy of virtual currency by actually using it.

Ishii estimated that around 4,000 workers at GMO Internet would be entitled to receive Bitcoin payments. RT News report that employees would even receive a bonus for receiving cryptocurrency. Workers can expect an additional 10% on top of their usual payment.

Outside of a few jobs in the fintech industry, this represents one of the first examples of a large company offering to pay all their employees in cryptocurrency. Back in 2014, a Canadian startup called WagePoint offered a service in which they offered clients the option to pay their employees using cryptocurrency. At the time, they estimated that they paid around $75,000 annually in Bitcoin. This is minuscule compare to the maximum $3.6 million a month which GMO Internet would pay out should every one of their employees opt for crypto payments. However, judging by the WagePoint’s website, the service has since been discontinued.

It won’t be the first dealings the GMO Internet have had with Bitcoin. They started a trading and exchange business back in May of this year. They are also planning on launching their own mining farm next month. Therefore, it makes perfect economic sense for them to pay their staff using the currency which they have obtained for much less than the market rate thanks to their mining operation. Rather than go through the effort of exchanging their freshly mined BTC for yen and then sending that out to employees, they can pay them directly with the cryptocurrency.

It’s hardly surprising that a Japanese company have been the first to trial paying employees in cryptocurrency. This year, the government there declared Bitcoin and other digital currencies legal tender. If GMO Internet’s pilot is successful, it seems likely that others will follow suit soon.



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GMO Internet to Pay 4,000 Employees Using Bitcoin