In Chapter 7 (Defining Competitiveness) we are introduced to Pay Mix strategies in compensation (pp. 239-246). Indeed, Exhibits 7.16, 7.17, 7.18, & 7.19 reflect different Pay Mix approaches. Focusing specifically on the section titled, "Pitfalls of Pies," (pp. 242-244), please read the following on cryptocurrency and, using Exhibit 7.19 [Merrill Lynch's Pay Mix Varies within the Structure], read The Scenario that follows and respond to my request for your feedback, as well as comment on others' feedback:

A cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.[1][2] Some crypto schemes use validators to maintain the cryptocurrency. In a proof-of-stake model, owners put up their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake. Generally, these token stakers get additional ownership in the token over time via network fees, newly minted tokens or other such reward mechanisms.[3] Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC).[4] When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.[5]

Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency.[6] Since the release of bitcoin, many other cryptocurrencies have been created. [1] Andy Greenberg (20 April 2011). "Crypto Currency". Forbes. Archived from the original on 31 August 2014. Retrieved 8 August 2014. [2] ^ Polansek, Tom (2 May 2016). "CME, ICE prepare pricing data that could boost bitcoin". Reuters. Retrieved 3 May 2016. [3] ^ Bezek, Ian (14 July 2021). "What Is Proof-of-Stake, and Why Is Ethereum Adopting It?". [4] ^ Allison, Ian (8 September 2015). "If Banks Want Benefits of Blockchains, They Must Go Permissionless". International Business Times. Archivedfrom the original on 12 September 2015. Retrieved 15 September 2015. [5} ^ Matteo D'Agnolo. "All you need to know about Bitcoin". timesofindia-economictimes. Archived from the original on 26 October 2015.

The Scenario Me (Sr. VP of Human Resource Management): Thank you all for coming to this meeting of the corporate HR Team. I have about with my senior colleagues about the issue I am about to introduce to you. Indeed, the executive team is thinking about it, including the cost and benefits of pursuing this new wrinkle in our compensation strategy. The new strategy is this: As we know, all employees are eligible to receive compensation in two forms: base pay and cash incentives (bonuses). In addition, mid-level managers and executives are also eligible to receive stock incentives. And, as we know, stock incentives are subject to the vicissitudes of the daily value of our company shares and, in a volatile market, can swing wildly. Our mid-level managers and executives know this and are willing to assume the risk. Knowing this, what if we gave all employees the option of receiving their cash incentives (bonuses) in either cash, cryptocurrency, or a hybrid mix of both? As we know, the value of cash varies every day given shifts in the consumer price index as well as the value of the US dollar. Since cryptocurrency is a medium of exchange like cash, should we consider giving employees the option of receiving all or a part of their cash incentives (bonuses) in cryptocurrency?