Toronto, Canada April 1, 2014 — Whether you’re on board the bitcoin train or not, you can’t deny it’s got people talking. The cyber-dollar has continued to make its way into the headlines - and for Uberflip employees, their bank accounts as well.

In what some may consider a controversial move, Uberflip co-founders Yoav Schwartz and Randy Frisch have decided to take payroll into 2014, foregoing traditional currency and issuing paychecks entirely in bitcoin.

“I’ve been following the rise of bitcoin for a while now,” CEO Yoav Schwartz says. “I truly believe it’s the future of currency, so why not get a head start? As a startup, we’re always striving to be on the cutting edge. Using digital money to pay employees at a tech company just makes sense, in my opinion.”

Uberflip employees were notified this morning of the switch, to what the co-founders are calling a “mixed” response.

“First we had to explain what bitcoin was – which took some time,” COO Randy Frisch admitted. “But after that, a lot of team members were really excited about it. The rest will come around.”

The company plans on using payroll software Wagepoint to manage this new system, which allows employees to set up a bitcoin wallet to collect their pay. In the same way many companies deposit funds directly into employee bank accounts, Uberflip will issue paychecks which are transferred to employees’ bitcoin wallets.

Schwartz and Frisch are even encouraging employees to attend Bitcoin Decentral, a Toronto-based meetup dedicated to learning more about the currency and engaging in the bitcoin community, in an attempt to get the whole team on board.

“For every meetup an employee attends, they get 100,000 satoshis*,” explains Schwartz. “We want to facilitate them learning about bitcoin in any way we can, even if it takes a little bribery to get there.”

*The smallest unit of bitcoin currency, equal to 0.00000001 BTC

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