This was a design challenge I worked on while applying to SkyMavis, a technology company that creates decentralized applications and services. I created and simulated all the below sections on my own.
Business Goals
Leverage cryptocurrency for employee salary payments, aligning with our identity as a crypto company and utilizing our native tokens.
Streamline payroll management by eliminating complex paperwork and adopting blockchain’s fast, secure, transparent, and scalable features.
Make blockchain more accessible and position ourselves as a leader in crypto-based salary payments.
User Goals
As a crypto business owner, I want to pay employees in cryptocurrencies, stablecoins, and our company’s native tokens.
I aim to provide employees with a fast, secure, and reliable crypto salary payment system.
I need an efficient way to manage salary payments, ensure timely payouts, and offer performance-based bonuses.
Business Needs
Develop a user-friendly platform that allows business owners to manage payroll efficiently.
Integrate a blockchain wallet system to distribute salaries and bonuses in crypto and stablecoins.
Foster trust and credibility between employees and the company while cultivating a blockchain-driven work environment.
User Needs
Enable employee profile creation with essential salary payment details (date, time, amount).
Offer customizable token/coin payment options with available blockchain networks for seamless transactions.
Support different employee categories (full-time, contractor, freelancer) with tailored payroll structures.
Crypto Industry
Since gaining mainstream recognition in 2018, cryptocurrencies have continued to grow in adoption. Today, people of all ages are becoming increasingly familiar with crypto. According to Triple-A, Vietnam ranks among the top five countries in global crypto adoption, with 20,210,834 crypto owners—representing 20.27% of the population.
Crypto Payments
Advancements in blockchain technology, including bridges, multi-chain, and cross-chain solutions, have made crypto transactions more accessible. Major financial players like Visa, Mastercard, PayPal, and Stripe are now integrating crypto payments, opening new opportunities for mainstream adoption.
Traditional payment providers are also collaborating with blockchain companies to facilitate crypto transactions, making it easier for businesses to implement crypto payroll systems.
Some of the top companies already offering crypto salaries include:
Blockchain.com, BitShares, Fairlay, Purse.io, SC5, Bitwage, Exodus Wallet, OpenWeb, TrustSwap, and GMO Group.
Opportunity
Transaction fees are no longer a major concern, as many blockchain networks now offer ultra-low-cost transactions. Networks like TRC20 (Tron) and BEP20 (BNB Smart Chain) provide cost-effective solutions, while off-chain (internal) transactions often come with zero or minimal fees.
This opens the door for businesses to:
Pay salaries using native crypto tokens.
Offer employees multiple payout options.
Provide seamless withdrawal or fiat conversion through bank transfers, B2B exchanges, or card withdrawals.
Easy and cost-effective implementation.
No more expensive and inconvenient currency conversions.
Lower transaction fees.
Faster, cheaper, simpler, and more private payroll management.
