One of the leading Bitcoin payment service providers, BitPay, has decided to function permanently on a remote basis. BitPay’s CMO, Bill Zielke, recently said to the press that the company’s entire team is working remotely and would continue to do so until further notice. The decision to shift towards remote work was taken by the company’s management due to the ongoing Covid-19 pandemic situation. Bill Zielke further added that the company’s employees would have the option to continue working from home or use the company’s offices once the pandemic situation gets better. The office spaces would be dominantly used for company events, meetings, customer events, meet-ups, training, and other such activities.
The co-founder and chief executive officer of BitPay, Stephen Pair, said that the company has been following the Covid-19 pandemic from the very beginning. Due to the seriousness of the situation during the pandemic, the executive team of BitPay decided to continue business as a visual from home. It would help the employees stay safe and ensure the business activities don’t get negatively impacted. The work from the home policy adopted by BitPay turned out to be fruitful, and it is for this very reason, the company has decided to switch to cyber-platforms going ahead.
Cryptocurrency is an internet-based industry, and thus, it seemed only natural that the firms in the cryptocurrency sector would flourish through remote work. Other major firms, including Binance, have announced that it would be operating under a remote work mechanism until the situation gets better. As per an internal release of BitPay, the majority of the employees amounting to over 85 percent, would prefer working from home. It is primarily because the employees feel they are more productive when working from home. It is what helped BitPay’s executive team to shift to work-from-home on a permanent basis.
Andrew Kelin, BitPay’s marketing director, stated with regards to this shift that it took a bit of time-management and adjustment as he and many of the company’s employees are social and have outgoing personalities. However, the shift to work-from-home has been immaculately well-integrated and collaborative. The virtual platforms available today have helped the teamwork efficiently as we were working side-by-side. The fact that no negativity is reported from the company’s staff during the shift to remote work has clearly proved that it is meant to stay. The company’s Argentina team preferred working from home, whereas 86 percent of the US team and 75 percent of the Amsterdam team also opted for work from home going forward.
In Russia, too, the work from home culture has been flourishing rapidly. It is partly evident from the fact that there has been a massive surge in demand for graphic cards. However, the demand for graphic cards and high-end PC accessories also stem from the increasing trend of digital mining activities. Due to the Covid-19 pandemic, not only the company in the crypto world but just about every firm in the different sectors has made the shift to work from home, partially or completely.
There are many advantages that have come into the limelight of working from home, one of which is the amount of time saved from the daily commute to and from the office. It lowers the company’s operating costs drastically while ensuring that the team’s productivity remains high at all times. The employees are found to be more engaged and productive as they get the flexibility they are looking for. Like in any work culture, there are pros and cons of working from home, but overall this shift has proven a key to ensuring fluidity in business during crisis situations the world is facing today.