A Canadian fintech company called Monarch has just created the world’s first decentralized and scheduled crypto-currency payment system. Crypto-currency is a digital currency created and managed through cryptography, an advanced set of encryption techniques. Monarch isn’t the first company to create crypto-currency subscriptions; in fact, Coinbase and PumaPay were the first companies to make this service happen. This new service from Monarch will allow companies like Netflix and Hulu to receive crypto-currency for subscriptions. Monarch currently has over 270,000 users and has the support of Bitcoin founder Roger Ver and LinkedIn founder Eric Ly; the company also received $2 million to fund their blockchain services. Time will tell how quickly this new payment method changes how business and personal finance operate.
            On September 1st, New Zealand will allow companies to pay salaries through crypto-currency. However, the country will require that the crypto-currency being used have a fixed conversion rate with a normal currency; the crypto-currency must also be easily converted into regular money. Bitcoin is the world’s largest crypto-currency. Next month companies in New Zealand will be able to pay workers through bitcoin. It will also be legal for bonuses to be paid in crypto-currency. Crypto-currency salaries will be taxed just like normal salaries. The new ruling does not apply to self-employed workers who won’t be able to get paid through crypto-currency. This change signifies a new attitude of government towards crypto-currency. It means that at least one government in the world sees value in using crypto-currencies for regular payments. Some countries such as Russia, China and others have actually banned or restricted the use of crypto-currencies. Much uncertainty remains about how successful crypto-currency will be in the future; many people have concerns about the environmental impact of crypto-currency because of the large amounts of energy needed to make the system work.