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#we process payrolls of shifting intricacy
rankertopanwar · 2 years
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                                             TJHpayroll
 Cooperate with us and we will deal with your client's finance needs.
Our finance framework was planned by a bookkeeper for bookkeepers. Our Payroll Summary report contains all relevant data, including an overall record outline referring to the client's graph of records. We partake in a cozy relationship with essentially our clients' all's clerks and bookkeepers. As a more modest organization, we can respond rapidly to your necessities and guidelines. Here is an example of the Payroll Summary report we send through a moment email each time a finance is handled. We send these messages to the client and alternatively remember you for the interaction. All the client's data is accessible to the organization's bookkeeper, including past finance rundowns, quarterly duty filings and reports.
TJH Payroll, otherwise called Tom J. Structure and Co, Inc., has been confided in by private ventures to deal with their finance needs starting around 1977. We have the experience and ability to deal with every one of the subtleties of finance arrangement and duty recording. With in excess of 2,400 clients in various states, we have given finance administrations to essentially every kind of business. We administration little and medium-sized organizations, going from one worker to 500+ representatives.
In our everyday course of business, we process payrolls of shifting intricacy, including charge factors, for example, including: FSA, HSA, Section 125, retirement plans, non-benefits, strict associations, supplemental wages, charge treatment for supplemental installments, incidental advantages and numerous others. We know the assessment regulations and guidelines, and we are prepared to serve clients of all sizes and intricacies.
As a secretly held organization, we convey customized finance arrangements that put us aside from bigger establishments and public contenders. We see ourselves as your colleague, helping you constantly to accomplish your business objectives.
TJH Payroll keeps up with enrollments and confirmations with proficient finance relationship to remain current with charge regulations, guidelines, best practices and innovation patterns. TJH Payroll is reinforced and AAA appraised by the Better Business Bureau.
ONLINE ACCESS/TJH CONNECT
Your finance information is available from our safe servers when you really want it. This information incorporates detailing, finance information and manual really take a look at computations.
DIRECT DEPOSIT
In the beyond 20 years, we've handled more than $1.6 billion in representative direct store installments. Our clients find this framework simple and secure, and they additionally find that it further develops their representatives' financial experience.
GARNISHMENTS
We compute and keep the garnishments at no additional charge. We additionally pay the embellishing organization for you.
Marked CHECKS
Your checks can come pre-endorsed at no additional charge. Our discretionary super secure strain fixed checks incorporate a pre-marked mark and cost $0.15 per check.
IRS/EDD CORRESPONDENCE
At the point when you are a TJH Payroll client, we take care of you. We will work with burdening offices to determine open issues for your sake.
Laborers' COMPENSATION
We've figured out how to make paying laborers' pay premium installments simple. We can pay your laborers' pay charge every finance as it is brought about or finish up and pay the conventional report that is recorded with your insurance agency. Have your protection specialist reach us for a rundown of insurance agency we are pre-endorsed to transfer information to. We are not authorized to sell laborers' remuneration protection.
TIME AND ATTENDANCE
Time and Attendance allows you to follow worker hours by means of any web empowered gadget at no extra charge. Ideal for consistence, quicker finance info, and essential work costing.
Limitless CUSTOMER SUPPORT
Following 42 years we have taken in the worth of good correspondence with our clients. We grasp the worth of open lines of correspondence. We care about exact, opportune finance checks and assessment installments. No inquiry is excessively little.
GENERAL LEDGER SUMMARY
We make a Payroll Summary report with every finance handled. This report incorporates an overall record rundown in view of your outline of records. We can likewise incorporate with QuickBooks.
EMAIL NOTIFICATIONS
We tell you the moment your finance has been handled, furnishing you with a duplicate of the Payroll Summary report and outline aggregates of the finance. We will likewise tell you of other finance movement and duty regulation changes that might influence your business.
Fresh recruit REPORTS
We submit required fresh recruit provides details regarding your benefit at no additional charge.
REMOTE CHECK PRINTING
With this new help clients can print checks at their area from a PDF record that is transferred to TJH Connect.
All other services
Best Customer service in Payroll industry
Get paid same day with our payroll
25 plus years doing payroll
more than 500 millions of wages in 2021
Just 15.99 can get your payroll
Our own local payroll services
most affordable payroll services
Quick Payroll services
Cheap Calsavers services
Payroll services in Los Angeles
Payroll services in San Francisco
Tom hull payroll
Payroll services woodland hills
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payroll time and attendance
visit for more information >>https://www.tjhpayroll.com/
#TJHpayroll#Cooperate with us and we will deal with your client's finance needs.#Our finance framework was planned by a bookkeeper for bookkeepers. Our Payroll Summary report contains all relevant data#including an overall record outline referring to the client's graph of records. We partake in a cozy relationship with essentially our clie#we can respond rapidly to your necessities and guidelines. Here is an example of the Payroll Summary report we send through a moment email#including past finance rundowns#quarterly duty filings and reports.#TJH Payroll#otherwise called Tom J. Structure and Co#Inc.#has been confided in by private ventures to deal with their finance needs starting around 1977. We have the experience and ability to deal#400 clients in various states#we have given finance administrations to essentially every kind of business. We administration little and medium-sized organizations#going from one worker to 500+ representatives.#In our everyday course of business#we process payrolls of shifting intricacy#including charge factors#for example#including: FSA#HSA#Section 125#retirement plans#non-benefits#strict associations#supplemental wages#charge treatment for supplemental installments#incidental advantages and numerous others. We know the assessment regulations and guidelines#and we are prepared to serve clients of all sizes and intricacies.#As a secretly held organization#we convey customized finance arrangements that put us aside from bigger establishments and public contenders. We see ourselves as your coll
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nordholm · 5 months
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Exploring the Future of HR and Payroll Excellence with Nordholm Solutions in the UAE
Embark on a journey through the vibrant Domain of HR and Payroll Services in the UAE, where Nordholm emerges as a trailblazer, reshaping the landscape of business processes. In this insightful piece, we will unravel cutting-edge trends, intriguing tips, and the latest innovations that define Nordholm's distinctive approach to Payroll and HR Services in the UAE.
Discover how we seamlessly integrates state-of-the-art technology into its services, revolutionizing Payroll Management and HR Operations. From automation to the power of cloud-based systems and data analytics, we'll explore how these advancements significantly elevate efficiency in the workplace.
Uncover the art of balancing technology with a human-centric touch in HR services. we take pride in its unique fusion of personalized assistance and technological solutions, fostering not just efficiency but also a workplace culture that resonates with harmony.
Cast a radiant beam on our steadfast dedication to sustainability and the infusion of eco-friendly practices into our Payroll and HR services. Examine the ripple effect of these initiatives on employee satisfaction and the overarching reputation of companies dedicated to forging a sustainable future.
Educate readers on the intricacies of UAE's HR regulations and witness how we become the guiding force for businesses, ensuring compliance with essential aspects such as labor laws, taxation, and legal requirements. Plunge into our exceptional proficiency in navigating the intricate regulatory maze of the UAE.
We proudly occupy the leading edge of Payroll and HR Services in the UAE, perpetually evolving to synchronize with the ever-shifting demands of businesses. Through a fusion of cutting-edge technological solutions, bespoke approaches tailored to each business, and an unwavering commitment to compliance and sustainability, we persistently establish new benchmarks for elevating HR efficiency and excellence throughout the region.
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cloudforcehr · 5 months
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The Drive Towards Outsourcing HR Admin
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In the realm of human resources, efficiency and precision are paramount. For businesses operating in the fast-paced environment of Thailand, juggling HR admin and payroll tasks can be a cumbersome process that detracts from strategic goals. This is where HR admin outsourcing and payroll outsourcing services in Thailand offer a transformative solution.
The landscape of HR management has significantly shifted towards outsourcing. Companies are increasingly recognizing the value of external expertise in handling complex HR tasks. HR admin outsourcing is not just about delegating responsibilities; it's about enhancing HR functions with professional acumen and technological prowess. By opting for a specialized HR administration service, organizations can ensure their HR operations are managed with utmost proficiency.
Payroll Outsourcing Service: A Game Changer
Payroll management is a critical component that demands accuracy and timely execution. The consequences of payroll errors can be significant, affecting everything from employee morale to legal compliance. A robust payroll outsourcing service becomes a game-changer for businesses, ensuring that employees are paid correctly and on time, while also managing tax filings and other statutory requirements.
Leveraging Payroll Software for Optimal Performance
In the digital age, payroll software stands as a cornerstone of efficient payroll management. Advanced payroll software systems offer a myriad of features that automate and streamline payroll processes. From tax calculations to leave management, these systems are designed to handle the intricacies of payroll with ease, reducing the likelihood of human error and saving valuable time.
Strategic Advantage Through HR Outsourcing
The strategic impetus for outsourcing HR tasks is clear. It allows businesses to focus on their core competencies while experts handle the complexities of HR administration. This reallocation of focus and resources can lead to greater innovation and competitiveness in the market. With executive coaching and HR consulting services, companies can not only manage their HR tasks but also refine their overall HR strategy.
The Role of Insurance in HR Services
An often overlooked aspect of HR services is the provision and management of employee insurance. Comprehensive insurance services play a pivotal role in attracting and retaining top talent, as well as in safeguarding the well-being of employees. Outsourcing this component can ensure that businesses offer competitive packages while also staying compliant with legal requirements.
Technology: The Backbone of Modern Payroll
Technological integration is not limited to software. It encompasses a range of tools designed to optimize HR and payroll functions. From e-leave systems that automate leave tracking to e-time software for accurate timekeeping, technology is the backbone that supports efficient and error-free payroll operations.
The Human Element in HR Tech
Even as we embrace technology, the human element remains irreplaceable. Tools like online assessment tools, aptitude assessments, and personality assessments help in understanding the workforce better, ensuring that the human aspect of HR is not lost amidst digital transformation.
Enhancing the Employment Lifecycle
From the moment a candidate is considered for a position to their eventual exit or retirement, HR plays a crucial role. By integrating services like recruitment and executive search, businesses can streamline the acquisition and retention of top talent. A comprehensive employment service that includes onboarding, development, and exit management can significantly enhance the employee experience.
Payroll Services and Employee Benefits
Payroll services extend beyond salary disbursement. They include the administration of various employee benefits, which are a critical factor in job satisfaction and loyalty. Outsourcing this facet means businesses can provide a competitive benefits package without the administrative burden that comes with it.
Synthesizing HR and Payroll Outsourcing for Business Success
Outsourcing HR administration and payroll services can lead to a transformation in how businesses operate. By partnering with the right service providers, companies can achieve a high level of efficiency, compliance, and employee satisfaction. Moreover, integrating advanced payroll software can further enhance these processes, leading to seamless payroll operations.
Final Thoughts on Strategic Implementation
For businesses in Thailand, the strategic implementation of these services means choosing partners that understand the local business landscape, regulations, and cultural nuances. It's not only about finding a vendor but establishing a partnership that aligns with the business's strategic vision and growth trajectory.
Contacting CloudForce HR for Your Outsourcing Needs
For those interested in exploring these services further, CloudForce HR provides comprehensive solutions tailored to your business needs. Whether it's for HR admin outsourcing, payroll services, or cutting-edge payroll software, they offer the expertise and technology to elevate your HR functions. Feel free to reach out and contact CloudForce HR for a consultation on how they can assist your business.
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Payment Planning - How Payroll Works & Why It's Important to Know
It's an interesting time to be working in a finance role, with so many processes and procedures shifting in a way that is almost foreign from what it once was. Not many departments have seen the same trajectory as that of finance.  This is particularly true when considering the payroll function, with many savvy businesses exploring different payroll formats that better suit the unique nature of their business. If you find yourself a little unsure about what payroll is and how it all works, we have fleshed out the intricacies so that your team can gain a greater understanding of how it all works, which will inform better decision making. Source: https://www.entrepreneurshipsecret.com/how-payroll-works/ Read the full article
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cryptswahili · 5 years
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Op Ed: We Just Launched the First Cryptocurrency-to-Tax Payment Partnership
Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.
I am an engineer by trade. Creating more efficient processes, products and eventually building businesses has been a passion of mine since I can remember. When I got involved with blockchain technology, I realized right away the potential benefits the application of this new technology could have on the financial industry.
But this was several years ago, when people would think you were a little crazy if you brought up Bitcoin at an event or a party. So I got down to building a business, a team and tech that would bring about mass adoption of blockchain technology and, more specifically, the application of blockchain technology to finances in the form of cryptocurrencies.
And finally, it’s happening all around you. Right now, at this very moment. Most people miss it, but what we’re seeing in early 2019 is the birth of cryptocurrency mass adoption and it’s affecting governments in a positive way.
While a lot of people are asking themselves, “Is this really the next bull run?” or “Are we really going to see Facebook or ‘XYZ’ social network launch a cryptocurrency?” governments are starting to implement technology to facilitate cryptocurrency transactions today.
Real change is happening, at a governmental level, that will pave the way towards mass adoption.
The Wave Is Rising
In early March 2019, Coinberry provided the technology, infrastructure and implementation for the town of Innisfil, a government municipality in Canada, to start accepting tax payments in bitcoin.
This was a huge win for the industry.
While the municipality is small, the innovation from the government and the willingness for a government agency to accept cryptocurrency is a giant leap forward. It is the first government partnership of its kind in Canada.
While this partnership is just a start, it is one of the first changes that will unleash additional government adoption moving forward.
Other government municipalities have started asking us about the implementation, wanting to know more about how, why and what it would take to offer similar services to their residents.
Why are they now, all of a sudden, so interested in blockchain technology? What does this mean for governments moving forward? To get a clear picture of what’s coming, we’ve got to look at the underlying motivation of municipalities from a government funding perspective.
Money, Motivation and Government Funding
Regardless of where you stand on the issue of government spending, all governments need money to pay for things like roads, schools, police, fire, hospitals and the like. At present, most governments have very limited options when it comes to making this happen.
They can raise money by increasing taxes, issuing bonds or by printing more money. The latter option is only available to federal governments.
One additional option, that was not fully available until cryptocurrency arrived, is to cut transaction costs by using more efficient financial technology.
This last solution is the low-hanging fruit that governments, like Innisfil’s, are focused on and is a trend that is poised to spread quickly through small and large municipalities alike.
Trend One: Increasing Funds Without Increasing Taxes
Governments are starting to realize that cryptocurrency provides a safe, easy way to reduce transaction costs. This is not a hypothetical scenario anymore: This is a reality. With relatively little effort, a municipality can have more funds without increasing taxes, issuing a bond or implementing budget cuts. This idea has led to an increase in the number of municipalities that are interested in cryptocurrency, both as a form of tax payment and, eventually, as a means to facilitate government transactions: think payroll, contractors and municipal investments.
Take bank fees as an example.
Our involvement with Innisfil began when the municipality approached us with a challenge. It was paying in the neighborhood of $5 million annually in bank fees when it came to processing payments and it wanted to reduce this cost.
Saving a percentage of transaction fees — in this case on an annual basis — could result in hundreds of thousands or even millions of dollars saved.
Imagine a 5 percent savings in transaction costs on the $5 million paid in fees annually. That’s $2.5 million in transaction costs saved over 10 years. While this isn’t necessarily a large number in and of itself, I wouldn’t dismiss it, especially when those savings can be obtained with minimal cost and effort.
Reducing transactions costs on tax payments alone, simply by utilizing a more efficient technology, frees up money that the government is able to regain without having to affect you, the citizen.
More governments will realize this and look to implement similar technology in their own regions. Which brings us to the next trend.
Trend Two: Adaptation of Municipal Law
Take the tax example above. Let’s say that “Municipality A” collects $500 million in tax revenue. To put this in perspective, Toronto — one of the largest cities in the world — collects over $11 billion dollars per year on average through various revenue streams.
At the moment, if a municipality starts collecting 10 percent of the above $500 million in revenue in cryptocurrency — or $50 million in this case — it would need to immediately convert that to fiat currency. Why? Because some cryptocurrencies are securities and while the law varies depending on the region, most municipalities are not allowed to invest in securities at the moment and have very limited options when it comes to assets that they are allowed to invest in.
As such, the $50 million in cryptocurrency would need to be immediately converted to fiat currency.
But what happens if a government contractor, a construction company who has won the next bid to fix the local roads for $10 million, says, “If you pay in cryptocurrency, we’ll give you a 10 percent discount. We’ll all save on transaction costs and, to be honest, to do this job we need to purchase equipment overseas. We’d rather pay for that equipment in cryptocurrency and save on transaction fees along the way as well.”
That 10 percent discount could amount to an additional $1 million in the government’s coffers. Perhaps it could put that toward building that recreation center it’s been promising to build every time elections comes around.
Or what happens when municipal employees start asking for payment in cryptocurrency? Or governments realize that they can save transaction costs in other areas of operations?
As governments start to accumulate cryptocurrency via tax revenue, expect to see a slow build in pressure to shift municipal law toward allowing municipalities to hold and transact in cryptocurrency.
Trend Three: Raising Funds
The third trend that we’re going to start seeing relates to raising money through bonds. If you’re a government and you need to raise money for a new street, for a new community center, to fix potholes or to pay for the police and fire department, you essentially have three primary ways to raise the necessary capital. Only two are applicable at the municipal level.
Option 1: You can reshape the allocation of current tax revenue (budget cuts) or increase taxes on property, business or individuals.
Option 2: You can print more money, driving inflation, lowering purchasing power and affecting economic growth. This is only an option at the federal level and does not apply to municipalities.
Option 3: You can sell bonds — promissory notes that allow companies and individuals to invest in your government. Government bonds typically come with both a very low rate of return but also come with a very low default risk.
While other, smaller options may be available, we’ll stick to these primary methods for now.
It’s no secret that all governments need money. Everyone is running on deficit, using money allocations from federal, state or provincial governments. Raising capital through bond issuance via cryptocurrency is going to be the next immediate trend that governments start to leverage.
Here’s why:
Cryptocurrency bond issuance can reduce transaction costs on the issuance itself — saving hundreds of thousands, or millions, of dollars in the process.
Governments will be able to tap into much larger markets, opening up to easier and cheaper foreign investments.
Governments will be able to provide liquidity for their bond offerings, encouraging investors to invest into their bonds.
With government bond tokenization, many benefits start to unfold that allow for a more efficient marketplace. In the very near future, within 12 months or so, I would expect to see government bond issuance via cryptocurrency.
It Comes Down to Ease
No one is going to deny that blockchains and cryptocurrencies are difficult concepts to grasp. They’re quite complex in general, and the technology and development are conducted by experts in the field.
But just as you don’t need to understand how H.264 encoding works to watch the latest high-definition movie trailer on YouTube, understanding the intricacies of blockchain technologies is not necessary for leveraging the applications that run on them. Ultimately, it all comes down to ease of use.
In summary, expect to see more governments adopting blockchain technology to reduce costs, municipal laws to shift favorably toward cryptocurrencies and for governments to start looking at raising capital on blockchains. We’re already seeing larger municipalities like Richmond Hill explore the possibility of using cryptocurrency for tax remittance as well.
It’s happening all around you. Right now, at this very moment. The wave is rising and the birth of mass adoption is happening.
This is a guest post by Andrei Poliakov, CEO and co-founder of Coinberry. Opinions expressed are entirely his own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
This article originally appeared on Bitcoin Magazine.
[Telegram Channel | Original Article ]
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cryptobrief · 5 years
Link
Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.
I am an engineer by trade. Creating more efficient processes, products and eventually building businesses has been a passion of mine since I can remember. When I got involved with blockchain technology, I realized right away the potential benefits the application of this new technology could have on the financial industry.
But this was several years ago, when people would think you were a little crazy if you brought up Bitcoin at an event or a party. So I got down to building a business, a team and tech that would bring about mass adoption of blockchain technology and, more specifically, the application of blockchain technology to finances in the form of cryptocurrencies.
And finally, it’s happening all around you. Right now, at this very moment. Most people miss it, but what we’re seeing in early 2019 is the birth of cryptocurrency mass adoption and it’s affecting governments in a positive way.
While a lot of people are asking themselves, “Is this really the next bull run?” or “Are we really going to see Facebook or ‘XYZ’ social network launch a cryptocurrency?” governments are starting to implement technology to facilitate cryptocurrency transactions today.
Real change is happening, at a governmental level, that will pave the way towards mass adoption.
The Wave Is Rising
In early March 2019, Coinberry provided the technology, infrastructure and implementation for the town of Innisfil, a government municipality in Canada, to start accepting tax payments in bitcoin.
This was a huge win for the industry.
While the municipality is small, the innovation from the government and the willingness for a government agency to accept cryptocurrency is a giant leap forward. It is the first government partnership of its kind in Canada.
While this partnership is just a start, it is one of the first changes that will unleash additional government adoption moving forward.
Other government municipalities have started asking us about the implementation, wanting to know more about how, why and what it would take to offer similar services to their residents.
Why are they now, all of a sudden, so interested in blockchain technology? What does this mean for governments moving forward? To get a clear picture of what’s coming, we’ve got to look at the underlying motivation of municipalities from a government funding perspective.
Money, Motivation and Government Funding
Regardless of where you stand on the issue of government spending, all governments need money to pay for things like roads, schools, police, fire, hospitals and the like. At present, most governments have very limited options when it comes to making this happen.
They can raise money by increasing taxes, issuing bonds or by printing more money. The latter option is only available to federal governments.
One additional option, that was not fully available until cryptocurrency arrived, is to cut transaction costs by using more efficient financial technology.
This last solution is the low-hanging fruit that governments, like Innisfil’s, are focused on and is a trend that is poised to spread quickly through small and large municipalities alike.
Trend One: Increasing Funds Without Increasing Taxes
Governments are starting to realize that cryptocurrency provides a safe, easy way to reduce transaction costs. This is not a hypothetical scenario anymore: This is a reality. With relatively little effort, a municipality can have more funds without increasing taxes, issuing a bond or implementing budget cuts. This idea has led to an increase in the number of municipalities that are interested in cryptocurrency, both as a form of tax payment and, eventually, as a means to facilitate government transactions: think payroll, contractors and municipal investments.
Take bank fees as an example.
Our involvement with Innisfil began when the municipality approached us with a challenge. It was paying in the neighborhood of $5 million annually in bank fees when it came to processing payments and it wanted to reduce this cost.
Saving a percentage of transaction fees — in this case on an annual basis — could result in hundreds of thousands or even millions of dollars saved.
Imagine a 5 percent savings in transaction costs on the $5 million paid in fees annually. That’s $2.5 million in transaction costs saved over 10 years. While this isn’t necessarily a large number in and of itself, I wouldn’t dismiss it, especially when those savings can be obtained with minimal cost and effort.
Reducing transactions costs on tax payments alone, simply by utilizing a more efficient technology, frees up money that the government is able to regain without having to affect you, the citizen.
More governments will realize this and look to implement similar technology in their own regions. Which brings us to the next trend.
Trend Two: Adaptation of Municipal Law
Take the tax example above. Let’s say that “Municipality A” collects $500 million in tax revenue. To put this in perspective, Toronto — one of the largest cities in the world — collects over $11 billion dollars per year on average through various revenue streams.
At the moment, if a municipality starts collecting 10 percent of the above $500 million in revenue in cryptocurrency — or $50 million in this case — it would need to immediately convert that to fiat currency. Why? Because some cryptocurrencies are securities and while the law varies depending on the region, most municipalities are not allowed to invest in securities at the moment and have very limited options when it comes to assets that they are allowed to invest in.
As such, the $50 million in cryptocurrency would need to be immediately converted to fiat currency.
But what happens if a government contractor, a construction company who has won the next bid to fix the local roads for $10 million, says, “If you pay in cryptocurrency, we’ll give you a 10 percent discount. We’ll all save on transaction costs and, to be honest, to do this job we need to purchase equipment overseas. We’d rather pay for that equipment in cryptocurrency and save on transaction fees along the way as well.”
That 10 percent discount could amount to an additional $1 million in the government’s coffers. Perhaps it could put that toward building that recreation center it’s been promising to build every time elections comes around.
Or what happens when municipal employees start asking for payment in cryptocurrency? Or governments realize that they can save transaction costs in other areas of operations?
As governments start to accumulate cryptocurrency via tax revenue, expect to see a slow build in pressure to shift municipal law toward allowing municipalities to hold and transact in cryptocurrency.
Trend Three: Raising Funds
The third trend that we’re going to start seeing relates to raising money through bonds. If you’re a government and you need to raise money for a new street, for a new community center, to fix potholes or to pay for the police and fire department, you essentially have three primary ways to raise the necessary capital. Only two are applicable at the municipal level.
Option 1: You can reshape the allocation of current tax revenue (budget cuts) or increase taxes on property, business or individuals.
Option 2: You can print more money, driving inflation, lowering purchasing power and affecting economic growth. This is only an option at the federal level and does not apply to municipalities.
Option 3: You can sell bonds — promissory notes that allow companies and individuals to invest in your government. Government bonds typically come with both a very low rate of return but also come with a very low default risk.
While other, smaller options may be available, we’ll stick to these primary methods for now.
It’s no secret that all governments need money. Everyone is running on deficit, using money allocations from federal, state or provincial governments. Raising capital through bond issuance via cryptocurrency is going to be the next immediate trend that governments start to leverage.
Here’s why:
Cryptocurrency bond issuance can reduce transaction costs on the issuance itself — saving hundreds of thousands, or millions, of dollars in the process.
Governments will be able to tap into much larger markets, opening up to easier and cheaper foreign investments.
Governments will be able to provide liquidity for their bond offerings, encouraging investors to invest into their bonds.
With government bond tokenization, many benefits start to unfold that allow for a more efficient marketplace. In the very near future, within 12 months or so, I would expect to see government bond issuance via cryptocurrency.
It Comes Down to Ease
No one is going to deny that blockchains and cryptocurrencies are difficult concepts to grasp. They’re quite complex in general, and the technology and development are conducted by experts in the field.
But just as you don’t need to understand how H.264 encoding works to watch the latest high-definition movie trailer on YouTube, understanding the intricacies of blockchain technologies is not necessary for leveraging the applications that run on them. Ultimately, it all comes down to ease of use.
In summary, expect to see more governments adopting blockchain technology to reduce costs, municipal laws to shift favorably toward cryptocurrencies and for governments to start looking at raising capital on blockchains. We’re already seeing larger municipalities like Richmond Hill explore the possibility of using cryptocurrency for tax remittance as well.
It’s happening all around you. Right now, at this very moment. The wave is rising and the birth of mass adoption is happening.
This is a guest post by Andrei Poliakov, CEO and co-founder of Coinberry. Opinions expressed are entirely his own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
This article originally appeared on Bitcoin Magazine.
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