Ethereum

No one is aware that one of the biggest issues with stablecoin-based remittance & payroll is that it is almost impossible to prove to a legal entity that you're getting paid.

Yes, it is because the settlement is not fully regulated, but I think there is room to escape from this

Researcher
Co-author of EIP-7212 
Ex- @getclave

What kind of proof are you looking for?  You have the onchain transaction hash when you are getting paid onchain.

This is the alt account of Sister Hazel. Writings at https://powerlaw.systems. Curating https://protocol-particles.github.io.

For things like getting an apartment or proving to banks for a loan, you have to prove income. The hash is not really proof of income, but proof of payment. They want proof of income from hopefully a fortune 500 business that shows with higher certainty that the cashflow you got last week, will likely be given this week.

Source: I'm 1099 consulting life.

Defi. Ethereum. Physics.

Data at @quotient.

I'm less concerned with why they don't accept crypto transactions, and more concerned with "what is happening" and "what things are", and when you ask those questions, you wonder why anyone even does these things in the first place.

I'm very big on breaking things down into "what is happening" and "what are things".

Whats happening: There isn't actually a regulation that tells people they need proof of income. They just require proof of income. I think that's more of business practices and maybe compliance (KYC/AML), but its more of a liability thing later on if something goes wrong. Its funny because the issue that's annoying is it doesn't stop bad actors at all, but its so ingrained that this paper pushing is OK, that they want it in a specific way and they don't want to go outside what they're used to.

What things are: the reality is proof of income is usually a paper, with a big name and an address, and your name and an address. Its kind of weird if you think about it from first principles. Its not a contract, not wealth, not guaranteed, and most of the time can't be verified. I don't know why they accept this but they do.

Isn't that a regulatory issue? My experience is that you have to show transactions in your bank account. All you see there is also just proof on payment. The regulatory mandate or cultural acceptance make it so that bank records are good enough. 

Blockchain can't change that, neither can stablecoins. Where should we go from here?