Custody and trading are not enough, investment giant Fidelity independently develops digital currency to motivate employees

Blockchain company TokenSoft recently issued a document stating that Fidelity Investments, a large financial services company, is using digital currencies to motivate employees.


TokenSoft project leader Lawson Baker said:

"Fidelity employees use this token in a closed-loop reward system designed to encourage employees to participate in internal and other activities."

As part of the proof of concept, Fidelity's "Bits and Blocks Club" (digital asset and blockchain internal learning group) used the TokenSoft platform to launch an Ethereum-based token, BBT. This token is based on the Ethereum standard ERC-1404. This criterion can be used to restrict certain services, such as blacklisting or whitelisting certain investment projects, or limiting the amount that can be gifted. TokenSoft says this helps companies like Fidelity comply with legal rules.

Fidelity's blockchain product economy Juri Bulovic said:

"Our team is excited to test this new token with members of the Fidelity Club. For employees, this is a practical use case for dedicated tokens and they have the opportunity to gain practical experience using tokens, wallets and other blockchain technologies, To understand how it works and how we can apply it to other areas. "

Baker added that Fidelity had previously tried to gamify the incentives, but found that the process was "manual and very restrictive."

Other large companies have also started adding cryptocurrencies to their workflows. Professional services company Deloitte is piloting a program in its Luxembourg office where employees can pay for lunch in Bitcoin in their cafeteria. Neither company is close to using cryptocurrencies to pay for more important things, such as wages, but this is the beginning.