European Post

Much of the negative reaction is based on bitcoin’s rise as a speculative investment and the idea that no one actually uses it to buy things. Oppositely, bitcoin can be used to buy everything from rap albums to diamonds and there are advantages of using cryptocurrencies instead of traditional currencies.

For example, take a real estate transaction – the efficiency, speed, and security with which you can close on a property sale gives cryptocurrency a natural appeal to real estate investors.

To date, the handful of real estate transfers using cryptocurrency have been mostly single-family homes, but that is changing. In September 2017, a homebuilder represented by Cushman & Wakefield, listed an undeveloped multi-family parcel near San Diego with a preference for payment via bitcoin or Ethereum. In December 2017, New York-based REALECOIN announced what it claims is the world’s first real estate fund for cryptocurrencies.

Even if the doomsayers are correct and cryptocurrencies fall out of favor, their underlying blockchain technology will revolutionize the financial world, starting with real estate.

#Blockchain #MarcusMillichap