In this podcast episode, Scott Dedels, founder of Block Rewards, discusses the potential of Bitcoin as a unique tool for employee compensation and reward strategies. He explains how Bitcoin can help individuals escape centralized financial systems, preserve purchasing power in an inflationary environment, and differentiate a company's total reward strategy. He emphasizes the need for education about Bitcoin due to its volatility and risks. He also compares the adoption of Bitcoin in the workplace to the integration of email and believes that Bitcoin will become as ubiquitous. The podcast also touches on the importance of financial freedom, the auditable nature of blockchain technology, and the potential benefits of Bitcoin for businesses.

Scott Dedels has 15 years of experience working in the employee benefits and pension industry. After understanding the significance of Bitcoin in 2020, Scott realized this innovation would inevitably come to employers through compensation, benefits, and retirement planning. He is a passionate financial services educator and the author of Bitcoin for Financial Advisors.

What We Discuss:

[00:00:00] Bitcoin's unique features make it the gold standard in cryptocurrencies, with no central control and a decentralized network.

[00:00:27] Scott introduces himself and his company, Block Rewards, which helps Canadian companies incorporate Bitcoin into their compensation and reward strategies.

[00:02:19] Bitcoin offers a unique opportunity for employers to attract and retain top talent by incorporating it into their compensation and savings plans.

[00:11:50] Bitcoin's hardness and its ability to maintain its value due to its limited supply.

[00:13:57] The current debt-based monetary system and its impact on inflation and government debt.

[00:16:15] Bitcoin as an alternative system for saving money that is not subject to inflation and government control.

[00:23:09] The natural fluctuations in the Bitcoin market due to its expanding size and the potential impact of large investments or withdrawals.

[00:24:13] The comparison between Bitcoin and real estate in terms of scarcity and long-term investment potential.

[00:30:51] The importance of individuals having their own wallets and being responsible for the custody and storage of their Bitcoin, along with the services provided to help educate and support users in this aspect.

[00:34:14] Bitcoin offers better settlement times, lower fees, and no chargebacks for merchants, making it an attractive payment option.

[00:36:04] Bitcoin provides an opportunity for individuals to protect their wealth from inflation and offers a strategy for saving money that will become more valuable over time.

[00:45:46] The importance of financial freedom and the ability to voice opinions without fear of financial repercussions.

[00:50:29] How businesses can benefit from owning Bitcoin as a corporate asset and its advantages over traditional investments.

[00:54:00] The diffusion of innovation curve and how Bitcoin is reaching the point of mass adoption, potentially leading to significant market growth.

[00:57:21] The auditable nature of blockchain technology and how it reveals the movement and consolidation of Bitcoin over time.

[00:58:45] How Bitcoin can be leveraged as a tool to help businesses excel and the mission of Block Rewards to assist decision-makers and entrepreneurs in understanding its benefits.

Episode Resources:

Block Rewards | Website

Block Rewards | Instagram

Block Rewards | Tiktok

Scott Dedels | Twitter