France: 1 in 5 Workers in Favor of Crypto Payments

June 28, 2023

Crypto adoption has grown with time. Consensys recently pointed out that 92% of the masses worldwide have heard of crypto. Right from familiarizing themselves with this asset class to honoring its essence, people have come a long way. In fact, the global trend of workers accepting payments in crypto has also gradually amplified.

French payroll software provider Payfit recently conducted a survey and found out that a “non-negligible” proportion of French people are in favor of receiving their salary in crypto. As far as the numbers are concerned, French media outlet Cointribune reported,

“20% of French people would be open to a payment, or at least part of their salary, in cryptos.”

Well, to a fair extent, the finding points towards the growing curiosity, and gradual acceptance of digital assets by workers. Specifically, people in the 18-35 year age bracket were the most interested group. 31% of them reportedly declared themselves “enthusiastic” about the idea of receiving a part of their remuneration via blockchain-based assets.

Nevertheless, on the other side of the spectrum, there are people who are skeptical and reluctant to do the same. With inflationary concerns still looming, it is the upper-class people who have declared themselves opposed to wages in crypto. Elaborating on the same, the report pointed out,

“It is the active workers working in a large company (83% of those who work in structures of 500 employees and more) and the CSP+ (79%) who are the most refractory.“

Does Crypto have the scope to be the ‘future of money’?

Amaury Lelong, the CEO of Payfit said in a recent interview,

“The world of work is undergoing unprecedented change linked to technological, societal, and environmental developments, it is a fact. Since the arrival on the labor market of the Millennials generation, born in the 80s, then of the digital natives, we have observed a heavy and slow change in the relationship to work and more generally in the place of work in life.“

For now, there’s essentially not much incentive for workers to accept earnings in crypto. In most places globally, digital assets are not readily accepted as a mode of payment, owing to volatility and regulatory concerns. However, that’s just one side of the coin, and the trend could change with time. More so, because transactions via blockchains have a host of positives, including speed, low costs, security, etc.

In fact, another parallel survey conducted by Consensys revealed that people do believe that crypto is the “future of money.” In fact, the respondents pointed out that they also associate this asset class as an “alternative to the traditional financial system,” and the “future of digital ownership.”