OpenLaw recently demoed an employment smart contract that could pay someone hourly in ETH.

File: 15 KB, 363x406, images (2).jpg [View same] [iqdb] [saucenao] [google]

OpenLaw recently demoed an employment smart contract that could pay someone hourly in ETH. Anonymous Thu Sep 27 01:27:36 2018 No.11225795 [Reply] [Original]

They demoed it so that it could use Chainlink to call the ETH price hourly so that you could, say, earn $20 an hour in the equivalent ETH.

When fiat onramps, stablecoins and atomic swaps get included in this (and that's a when, not an if) you will be able to be paid in stablecoins or in fiat, hourly. The next generation will look back at a time when people got paid weekly or even monthly, as being absolutely archaic.

Then when you factor in that the employment smart contract itself could have a function to transfer the base income tax rate to the government, and you have a completely automated pay system, that automatically pays basic income tax, and that can be triggered by, for example clocking in and out of an IoT device that sends an API trigger that you are "at work" or "not at work".

This is unbelievably massive. This is the beginning of an entirely new era of payment and taxation. There is simply no reason to stick with the "old" system once this smart contract ecosystem is properly up and running, and the efficiencies it provides in terms of accountability, accounting, auditing and taxation are difficult to overstate.

And here's the thing, it didn't even get mentioned, let alone discussed, on this subreddit. People here are still talking about how a mango stand in Guatemala is now accepting BTC. It's honestly baffling."

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]

/biz/ - Business & Finance