Payment for wages and labor, as presently so done, is tendered via United States currency. While one may make all sorts of complaints about the dollar; the truth of the matter is that the dollar is established, it is the coin of the realm, it also is readily accepted in foreign nations all over the world, and it is essentially viewed as being the world’s reserve currency. That would seem to make the strong case for anyone so working, to be paid via United States currency, which is a very reliable and a clearly universal form of payment.
The thing is that people and corporations are known for being greedy. So then, we live in a day and age in which, for whatever reasons, digital currency is considered to be an alternative form of payment for this and for that; and of which, some businesses as well as some individuals actually prefer to be paid in some form of digital currency. Perhaps, this desire, has more to do with the belief that there is greater anonymity with digital currency, or that this new form of currency represents a superior value, or a combination of these two.
There are certain States that make it their policy that wages must be paid in United States currency, along with the salient fact that the Fair Labor Standards Act insists upon the same. Yet, there is the law as written and there is the law as applied, along with the acknowledgment that there are those times when the law struggles to keep up with the reality of what is so occurring in this modern hi-tech day and age. This thus signifies, that we are not far removed, whatsoever, from some innovative company, determining, that in lieu of paying their employees United States currency, that they will instead pay them via some form of digital currency. The thing too, about corporations, is that they have incumbent profit incentives, and those profit incentives, can often push them in directions which are a bit shady.
For instance, the problem with digital currencies for any corporation is the fact that they do not control the value of that digital currency and therefore have no effect upon it, at all. That, in a nutshell, would not appeal to most corporations; whereas on the other hand if they create their own digital currency, which they would thereupon control, then all would be well, from their perspective. The thing is, that when a given company creates its own digital currency exclusive to those that work with or for that company, it really isn’t digital currency, at all; but rather it is more akin to digital scrip, and therein lies the rub. For, because that digital scrip is exclusive to that corporation, they thereby determine its value exclusively within all aspects of the corporation aegis that is under their domain, as well as giving that corporation undue influence upon others outside its sphere, but susceptible to their siren call, as to worth, so of, of that digital scrip.
When it comes to the United States dollar, it at least, is backed up by the full faith and credit of the United States government. When it comes to digital scrip, it is backed up by that corporation, and none else.