How Can EEA's Reward Token System Help Banks Motivate Their Employees?

Enterprise Ethereum Alliance created a token system to encourage the active contribution of member organizations and their employees to the consortium, as reported by Cointelegraph on Oct. 8.

What do we know about the token?To motivate employees and member companies, EEA proposed using three types of tokens at once - reward, reputation and penalty - which are said to be awarded from a grant fund each time an employee performs or does not perform a particular action.

10 EEA tokens can be exchanged for an EEA t-shirt, while 100 tokens can be used to have dinner with Ron Resnick, EEA executive director.

To sum up, a reward token-based system will work according to the principle that the more active the employee is, the more tokens they receive.

Notably, penalty tokens should be subtracted before an employee can redeem a reward token.

Increasing employees' productivityThe EEA is not the first organization to offer a token to motivate staff members.

In June 2018, the payment system Qiwi Blockchain Technologies announced the launch of a reward program called QBT token.

The other one - a voting token - grants authorized employees the right to decide how many tokens to charge for the contribution to the development of the company, and to whom.

The employees were supposed to receive the first coins in 2018.Another financial giant, PayPal, launched, an internal blockchain platform for incentivizing its employees in mid-November, where they can exchange corporate tokens for various services and goods.

Global companies' experience shows...Examples of large banks around the world show that reward token systems are not only tested but also successfully applied by financial corporations.