Digital Currency Influencing Real Estate Market
Digital Currency Influencing Real Estate. Despite its slow adoption in the real estate industry, digital currency has the potential to revolutionize the industry by greatly improving accessibility to homeownership and streamlining the home-buying process. The industry should consider embracing this technology to stay ahead of the curve. The use of digital currency and the blockchain to buy and sell property could revolutionize the real estate industry. Real estate professionals and companies should consider embracing this technology to stay ahead of the curve.
Kristin Smith, a real estate agent at Dave Perry-Miller Real Estate in Dallas, has been investing in cryptocurrency since 2017. Her experience of traveling to Cuba with cash and facing difficulties in accessing more money made her realize the potential of digital currency in making transactions more accessible and efficient. She is a vocal advocate for more real estate professionals to get involved in cryptocurrency. Currently, she serves as the chair of the National Association of REALTORS® Cryptocurrency Presidential Advisory Group.
Digital Currency Influencing Real Estate: Current Numbers
Propy, a member of NAR’s REACH program, completed over $4 billion in real estate transactions on blockchain. Moreover, offering transparency and efficiency that traditional transactions don’t have. Fintech refers to technologies that improve and automate traditional finance for businesses and consumers. Furthermore, it includes a wide range of transactions such as depositing checks with smartphones, raising money for business and using digital money.
Digital Currency Influencing Real Estate: Protects Your Money
Cryptocurrency, a digital form of money, allows transactions verification and records to be maintained by a decentralized system using encrypted databases. Additionally, transactions are bought and sold online, unlike paper currency or coins. Some of the most popular cryptocurrency systems include Bitcoin, Ethereum, XRP, Cardano, and Litecoin.
Overall, digital currency and blockchain technology are still relatively new concepts in the real estate industry, but they have the potential to greatly improve accessibility to homeownership and streamline the home-buying process. Real estate professionals and companies should consider embracing this technology to stay ahead of the curve.