Block Rewards is a service that gives Canadian employers the tools and expertise to provide bitcoin-based benefits and compensation to their employees.
Founder Scott Dedels recognizes the knowledge deficit that exists in Canada about what bitcoin is and how it represents the solution to the money problem currently fuelling the cost of living crisis.
For that reason, Block Rewards provides business owners with the education necessary to onboard them and their workers to Bitcoin.
In the words of the founder himself:
“The greatest incentive a company can offer today is hard money, and bitcoin is the hardest money that has ever existed.”
What Service Does Block Rewards Offer?
Block Rewards offers Canadian employers the ability to compensate their employees in bitcoin in the form of savings, payment, and rewards.
The Bitcoin Purchase Plan (BPP) is an investment plan they offer to help employees save in bitcoin by dollar-cost averaging.
Options include:
- Matched contribution: The employer will match the employee’s investment.
- Voluntary: The employer offers the benefit as an option but does not contribute.
- Employer only: The employer buys staff an amount of bitcoin per month.
- Percent of salary: The employer contributes as a percentage of the employee’s salary.
As well as savings plans, Block Rewards also offers employers the ability to fully or partially pay their staff in bitcoin.
Finally, the BPP can also be offered as part of a rewards plan, such as by offering it as an elective perk or including it as part of an incentive structure.
What makes Block Rewards unique is that they are a compensation and benefits company, with a niche focus on delivering bitcoin products.
Block Rewards offers complete hand-holding during this process, educating both employers and employees about exactly what bitcoin is, how it works, what problems it solves, and how to incorporate it into savings, payments, and rewards plans.
With a background in benefits, Dedels believes that bitcoin is the perfect asset for Canadians to deal with today’s money problem.
The key point is that Block Rewards offers the education and expertise required to teach employers and their staff about bitcoin, while also offering the tools to facilitate the use of bitcoin in their compensation plans.
Even though they facilitate the use of bitcoin for these compensation and benefits plans, Block Rewards is entirely noncustodial and holds no bitcoin.
What Problem Is Block Rewards Solving?
Canadians are experiencing a crisis of affordability.
Inflation destroys savings by eroding purchasing power and making money worth less in the future. This is a problem employers can help solve by learning about bitcoin and encouraging employees to save using it.
Dedels says:
“Bitcoin is a zero to one technology for savings. It can take some time for the masses to understand zero to one innovations because they’re so different from what came before.”
Bitcoin is the solution to the affordability crisis: hard, sound money that holds its value and gives Canadians the chance to hold onto their wealth, rather than watch it disintegrate.
Block Rewards wants 1 in 10 Canadians being compensated in bitcoin by 2028, and they believe that the way to do that is clear:
“To provide Canadian employers a simple path to incorporate bitcoin into total rewards strategies and to provide their staff with the education needed to participate with confidence.”
Block Rewards wants “A Canada where bitcoin has integrated into the mainstream lexicon of compensation and employee benefits.”
Bitcoin offers Canadians a chance to store their wealth in a form of money that doesn’t lose value over time, and will actually gain value in the near-to-medium term as adoption picks up.
Employers who are first to take advantage of Block Rewards’ offers will surely see the most benefit.
But even for those who join the party later on, when the price of bitcoin is much higher, the advantage of compensating workers in hard money instead of money that gets less valuable every day will be just as clear then as it is now.
Block Rewards And The Future Of Bitcoin
Right now, an education gap exists that prevents people from connecting the dots between the growing (and already large) problem of inflation and the constant growth of the money supply.
Dedels aims to bridge that gap by initiating as many Canadian employers as possible into the Bitcoin ethos.
To some extent, bitcoin is inevitable. And as adoption grows, so too will the number of people who want to be compensated in it, whether in the form of a pension plan or directly in their paycheck.
Currently, Block Rewards is limited to Canada, but as Bitcoinization takes place, the aim scales with it. Their goal is to become a global leader in helping businesses compensate their employees in bitcoin.
Summary
Block Rewards is a service that educates employers on the importance of bitcoin and provides them the tools to compensate their employees with hard, sound money, offering dedicated hand-holding throughout the process.
Their mission is to empower companies by evolving total compensation in a way that will help their teams thrive in changing global financial conditions.
