Bitcoin payroll and invoicing platform Bitwage, with operations in the U.S and the U.K., has launched two new products: Inwage, an advisory firm that creates and deploys solutions for launching initial coin offerings (ICOs); and Ether Inputs, an invoicing platform that allows ICO companies to pay employees in their preferred currency.
“The world of cryptocurrency is ever changing. While we strongly believe that Bitcoin is the greatest store of value ever seen, we also recognize the value of new forms of digitized assets,” said Jonathan Chester, president of Bitwage and Inwage, in a statement. “With our new ICO and Ethereum solutions, we are excited to help move this part of the industry forward.”
ICOs offer alternative opportunities for companies to raise funds for their startups, but the process of creating and running an ICO project is often risky, complicated and expensive.
Inwage, created as an advisory firm, provides easy-to-deploy services for companies of all sizes to launch their ICOs. It offers a turnkey solution that comes with several features, including technical support, which ranges from smart contract development to initialization; security compliance and advice; and help with marketing and visibility of an ICO project.
Running an ICO often means dealing with large sums of money; this means the company could become a target for hackers. While Inwage offers companies the tools needed to process and hold their funds, it can also provide additional security consulting solutions by helping ICO companies set up enterprise-grade security protocols. Furthermore, it offers recommendations to avoid failures of smart contracts, as well as website security to protect all transactions carried out in the ICO.
Chester told Bitcoin Magazine, “Bitwage has processed $50 million with 0 hacks and has insurance for errors and omissions and cyberliability. An additional $50 million has been processed through the Inwage platform. Together, Bitwage has processed about $100 million.”
Finally, Inwage offers marketing services through its network of partners, targeting the U.S., European, Middle East and East Asian markets.
Bitwage has also launched Ether Inputs, a solution that allows ICO companies to pay workers in their preferred currency, which is especially useful in cases in which their employees are unable to hold bank accounts.
Chester said, “The new Ether Inputs will enable ICO companies to navigate a world that is not based solely on cryptocurrency.”
Companies can use Ether Inputs to fund their payroll using ether or bitcoin. Employees can also decide the percentage of their salary to be paid in either fiat or cryptocurrency.
The service was soft launched with successful ICO companies Aragon and Status in January 2018. Chester said, “Workers from Ether Inputs were receiving money in USD, Euro, GBP, ARG, and BRL” during the soft launch.
Bitwage has more products on the horizon, including cryptocurrency transactions and retirement solutions for U.S. crypto investors.