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BUSINESS SCIENCE
Evo uses the blockchain to grant employee stock options
Evo becomes one of the first European companies to leverage smart contracts to give employees equity
Evo, the Artificial Intelligence company with offices in London and Turin, Italy, granted its team members with at least one year of tenure stock options using smart contracts tokenized on the Ethereum blockchain: cementing its leadership position as a technology innovator.
“The Evo team is now invested in the company’s long-term upside. By offering them equity via smart contracts, we simplify many logistical constraints attached to traditional shares and options: the benefits flow directly to our people,” said Fabrizio Fantini, the CEO of Evo.
The 2022 grant equals 2% of company’s shares, out of the 10% which will be allocated over the next five years. The terms can be expressed in plain English and implemented through smart contracts that guarantee full transparency and automatic, trustless execution. Implementation can be understood and monitored by recipients more easily than traditionally lengthy legal documents.
Because smart contracts are self-enforcing and take care of all the required bookkeeping themselves, maintenance costs are minimal. Smart…
