Let’s face it, the whole alluring crypto pitch was about liberation. Liberation from unelected bureaucratic control, reduced costs, increased velocity of money. For small businesses, the promised reality of crypto payroll as a convenient alternative has frequently missed the mark. Ethereum gas fees on their own can make a simple payroll run a financial disaster. Enter Shibarium, Shiba Inu's Layer-2 scaling solution. But can it really democratize crypto payroll, particularly for SMEs?

Scalability Fix: A Real Game Changer?

Shibarium's rapid growth is undeniable. Billions of transactions, millions of blocks processed. The numbers are impressive. Daily transaction volumes have regularly topped one million. At some points, they even reach a staggering 4.59 million, showcasing just how vibrantly people are flocking to and utilizing the network. The idea that they had a 7,154% increase in daily transactions within five days is staggering. Infrastructure improvements, both in strength and design, are in progress to better withstand such outrageous volumes—which is a silver lining.

Is it really that scalable. We've seen networks crumble under pressure before. The very existence of these upgrades is an indication that even they are starting to realize they’re already in over their heads. Here's the unexpected connection: it's like a small town suddenly booming. New homes are being built, but are the roads or sewer lines being built fast enough to serve them? That's the question Shibarium needs to answer.

Ethereum's Shadow: A Paywall Effect?

Here's where the anxiety creeps in. Shibarium lives on Ethereum. That means it’s still subject to Ethereum’s gas fees. Sure, Shibarium is designed to help lower those fees, but what if the Ethereum network is busy? Or does that congestion trickle down, creating a “paywall” effect that prices out smaller developers and SMEs?

It would be equivalent to having a toll road that ends at a much smaller, supposedly “free” road. If the toll is enough, no one makes it to the untolled highway.

If Shibarium really wants to make crypto payroll available to everyone, it needs to free itself from Ethereum’s baggage. It needs to be truly affordable, not just a somewhat less expensive option. This reliance on Ethereum is not a feature but a major current hurdle, and addressing it requires long-term vision.

Meme Coins For Payroll? Seriously?

Okay, let's talk about the elephant in the room: meme coins. Of course, with the recent surges in Dogecoin and PEPE, there’s been some buzz about payroll potentially in these currencies. Are you kidding me?

As funny as the concept of paying gig employees in PEPE is to imagine, this isn’t an ironic experiment in meme currency reassurance. Volatility is the enemy of payroll stability. Try explaining to your new employees that their paychecks are dependent on what the internet has chosen as its meme du jour today. It’s a recipe for disengagement and a ticking HR time bomb.

Even assuming PEPE is in a bull run, the risks are excessive. Consider the outcry if a worker’s pay were to drop by half just because a meme fell out of trend. Trust goes hand in hand with any effective payroll operation. Meme coins erode that trust.

There are benefits. For one, short on liquidity startups may opt to employ meme coins as a reward system i.e. It’s a dangerous move, but it is one of the few ways to lure in fresh talent.

Democratization Or Decentralized Hype?

Shibarium's promise is compelling. Reduced fees, quicker transactions, dApp compatibility for faster, easier payroll processes to name a few. For SMEs, this could be a game-changer. Or picture yourself processing batch stablecoin payments, making crypto-friendly employee payments as simple and cost-effective as they should be.

  • Benefits for SMEs:
    • Reduced transaction fees
    • Faster processing times
    • Integration with DeFi services
    • Access to a wider talent pool

The answer hinges on whether Shibarium can overcome its dependency on Ethereum and maintain its scalability as adoption grows.

Ultimately, Shibarium’s success will be measured by more than transaction volume and token price. It will all come down to its willingness and ability to nurture a deeply accessible, reliable and stable ecosystem for crypto payroll to flourish under. The potential is indeed tremendous, but so are the challenges.

What are your experiences with crypto payroll? What are your thoughts on how Shibarium can really democratize the system? Share your thoughts and let's discuss!