Jeremie Beaudry doesn’t code or hang out on Reddit. Truth be told, Beaudry spent the greater part of his time working for a major U.S. bank. However, nowadays the banker takes his pay in Bitcoin.
“I generally don’t have a firm grasp of computer science and lean on developers for that. If you spoke to me versus the larger crowd in crypto, I am on the outside looking in,” said Beaudry, compliance and regulatory affairs counsel at BitPay, who previously worked for SunTrust Bank. “I would say I don’t fit the norm, but I’ve definitely been introduced and baptized in fire in certain ways. I loved my position and co-workers and boss [at SunTrust], but I really wanted to get into FinTech,” the former bank executive said.
Beaudry began with the Atlanta-based computerized cash installment supplier 18 months ago when the cost of Bitcoin was around $400 and $500. (It has since moved from close $20,000 to exchanging the $8,000 territory as of late.)
It took the former banker only a brief period of time to warm up to being paid in Bitcoin. The finance application that BitPay utilizes enables representatives to set a Bitcoin rate or dollar sum on a week by week basis.
“It’s a simple change inside the application,” Beaudry said. Representatives set their compensation inclinations on a Monday and get paid on a Friday. That time slack is a default disincentive for any worker attempting to time the cost of famously unstable Bitcoin; however Beaudry said BitPay is the first organization where he has been paid week by week.
“I don’t really care about fluctuations,” Beaudry said. “I am from the traditional banking world. I owned a home on my 21st birthday, so I understand that hard assets appreciate over time, too,” Beaudry said. “But I think my approach to finance has changed. … Not being in it is worse than being involved in it. ”