NYK to develop digital seafarer’s currency


I tend to not trust corporations to do the right thing for their employees so hopefully this is a good thing. If it’s going to be tied to the US dollar, there is still going to be an exchange rate and service fee to convert to the seafarer’s currency right? I’m assuming this will be to the benefit of NYK, which if it is a reduced rate than a middle man, great.

I see headlines like this and think of the “company store” schemes that used to be perpetrated on miners by unscrupulous companies to keep them under the thumb. It would be great if this were not something like that.

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NYK is one of the largest and best known shipping companies in the world, they wouldn’t and couldn’t do a thing like that which could come back and bite them in the proverbial behind.
Japan is a well regulated country that is keeping a sharp eye on their corporations and CEOs. (Just ask Ghosn)

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I suppose we can ask him in his corner office in France because apparently Renault’s board is willing to keep him on.


He has not been accused of any wrongdoing in France.

No, but in this hyper globalized business, he is highly placed in one of the largest auto alliances in the world. I believe in innocent until proven guilty but if the charges against him are proven (some pretty serious financial crimes), will they continue to stand by him? Since he is a proven “rainmaker” I am thinking they will look the other way thus perpetuating my pessimism with corporations in general.

He is accused of under declaring his remuneration from Nissan. It is a breach of rules by the stock exchange, not fraud, embezzlement, or tax evasion.

BTW; Japanese CEOs who have been accused of the same did get fired from the job, but not put in prison.

I too think of “company stores” and military script but this has a potential upside and could be a boon globally. Cryptocurrency may survive in some form or not, but block chain technology is spreading to new industries and uses every day. I feel this is a development worth following to gauge the results.
Right now, I see the trick is how to transfer the “company crypto” to the fiat currency of your choice. And would you be willing to work for “company digital currency” or do you want direct payment in a government backed currency?