Groundbreaking move as Edinburgh-based building firm Orocco accepts cryptocurrency
Scottish construction firm Orocco is now accepting cryptocurrency as payment for projects as it continues to push industry boundaries.
The move comes as part of a revised business strategy and sees the Edinburgh-based firm become the first building company in the UK to adopt such a payment solution for client transactions.
A digital wallet has been set up to allow Orocco to accept Dogecoin, Bitcoin, Ethereum, Stellar and XRP as settlement for completed projects.
“With digital currencies becoming increasingly popular, it’s something I have been thinking about for a while,” said managing director Mark Ivinson, whose company specialises in high-end building and renovation work.
“I have spent some time researching what we could provide and I’m delighted we’ll now have this fast, safe and secure service as part of our offering to clients.
“I do believe things will start to move in that direction and it’s exciting to be at the forefront of it in the construction sector, which is regarded as being very traditional.
“There has been a lot of discussion recently about crypto currency. It is something I wanted to have as a payment option for clients and it will be a seamless process from start to finish for anyone using this method of paying.
“We’re a very innovative company and this is another example of us always looking to take the firm forward and move the business with the times.”
Formed in 2012, Orocco has established itself as one of the country’s most forward-thinking companies in the sector.
The new crypto currency offering for clients comes after the business introduced a permanent four-day working week initiative from the start of this month.
All employees now work compressed full-time hours Monday to Thursday, giving them Fridays off and a longer weekend. For the client, there is no reduction in the total number of hours spent on a project each week.
By implementing the change, Orocco hopes to boost employee wellbeing as well as a work/life balance.
Joint managing director Jonny Blurton said: “When we spoke to staff after the recent changes that the Covid-19 pandemic had brought to our working lives, it became clear that people enjoyed having that extra time at home, either to catch up on home projects or to spend more time with loved ones.
“We listened and wanted to make a permanent change to how we work and so far the feedback from staff has been very positive.”