When it comes to the workplace, it doesn’t matter whether payments are in fiat currency or cryptocurrency if no one is getting paid.
CoinDesk reported a number of current and former employees of news organizations sponsored by the blockchain startup Civil have not been paid what they were promised when they were hired.
The heart of the problem is Civil’s CVL token, which is how the employers were supposed to be paid. Lackluster demand caused Civil to cancel an ICO of the token last month and offer a refund because expectations weren’t met.
Where does that leave the employees? Nearly broke, as one told CoinDesk. However, Civil CEO Matt told the publication, “We didn’t promise anyone tokens would be worth any specific amount. Anytime we discussed potential token value with newsrooms, we made it clear we were making estimates and that there was risk involved.” Read more here.