Bitcoin Has Become Fixture In Real Estate Transactions
In the span of recent occurrences in the Bitcoin world, the cryptocurrency has become a sought-after commodity. It's a new 'property' on its own, according to Bitcoinist. The report discussed how it has become a digital representation of the property, and why it is important to explore its different facets in an ever-increasing digital world.
Carmen Benitez, who is connected to the company, is also president and managing director at Fetch Plus, Inc., a global tech company. She is convinced that cryptocurrencies are, in fact, evolving as an asset class and that it is transforming what can be considered assets and worthwhile investments in the digital world.
Fetch Blockchain Ltd., a subsidiary of Fetch Plus, created a blockchain-based, AI-driven app called Sesame. The company partners with Countrywide to digitize processes and provide an avenue for digital property players. The app provides a platform where titles and transactions can be completed seamlessly without the worry of errors.
There are many benefits that can be received from payments done with and in cryptocurrency. Cointelegraph reported about a few of these benefits, such as the freedom that paying with BTC affords than if transactions are paid out of the usual bank. BTC allows for transactions between two persons who are not even on the same country, and this transaction can be done securely through the use of a blockchain record.
Cryptocurrency makes a case for being used in everyday life through the steady adoption of banks, businesses, and even governments across the world. The US state of Ohio already has legislation in place where BTC can be used to pay off taxes. In Prague, in the Czech Republic, cryptocurrency is used as a way of paying for holidays without even bringing a single amount of real-world currency.
There will always be risks, as cryptocurrency is still being introduced into the mainstream. However, there is no perfect time than now, when businesses and traditional processes are undergoing digitization through because of how BTC is becoming more sought after creating a buzz in 2017. Of course, this remains to be seen as countries are putting legislation in place over the use of certain aspects of BTC.
These and more makes BTC either a replacement for real-world money as well as a prime piece of an investment asset. It can seriously aid in "economic development" in a world which is slowly becoming more digital, ushering in a new form of the industrial revolution. Bitcoin becoming a 'digital real estate' is not only coming true--it is inevitable.