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On-Chain Payroll

Definition

On-Chain Payroll refers to the system of processing and distributing employee compensation directly on a blockchain network using digital assets or stablecoins. This method leverages smart contracts to automate payment schedules, calculations, and transfers, eliminating the need for traditional banking intermediaries. It offers enhanced transparency, faster settlement times, and reduced transaction costs compared to conventional payroll systems. Such a system can streamline financial operations for decentralized organizations.