Real Estate and Blockchain Currency

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As we all know that real estate and blockchain both are global business fields that significantly contribute to the international economy. It is an alarming fact that the physical currency system is disappearing. Talking about the US in particular only 1-2% of all the money was used in physical means. Along with credit and debit cards, blockchain currencies such as cryptocurrency have earned a remarkable spot in the market.

The Growth of Cryptocurrencies:

Studies show that it was in January 2018 that the cryptocurrencies or blockchain networks reached their all-time highest with a net worth of $700 billion US dollars. The cryptocurrency that is in the most demand is bitcoin.

An Evaluation of Bitcoin and its Worth:

Bitcoin is the digital currency with the highest demand as compared to other cryptocurrencies, though it has witnessed a lot of fluctuation in the previous years. In December 2017, the net worth of bitcoin almost surpassed a worth of $19,700 and outperformed JPMorgan Chase to be ranked as number 1 for a brief instance. Even though the percentage of the overall cryptocurrency market for bitcoin has fallen as compared to other cryptocurrencies, it is still ranked as the number one most valuable cryptocurrency.

Cryptocurrency for Real Estate:

The net worth of real estate exceeds the value of any other physical or digital currency, stock markets, gold, or bank account disposal. Cryptocurrency holders can benefit from this fact as they can withdraw money from crypto and invest it in real estate. This helps them to branch out to many more zones and opportunities for investment. At an international level, many online platforms let you purchase property with digital currency.

Blockchain Companies Contributing to Real Estate:

With the increased demand for crypto and higher ROI from real estate, many international companies have stepped ahead to contribute to real estate. A few of the companies are;

·         Republic

·         Safe Wire

·         Vairt

·         RealT

·         Property Club

Even though crypto has gained international demand but unfortunately crypto is banned in Pakistan, the government has announced to make it legal real soon.

How Blockchain is Changing Real Estate Globally?

Blockchain currencies have affected real estate to a great extent and have brought several significant changes in them that are as follows;

Platforms and Marketplaces:

Traditional real estate includes the interaction and dealings between the buyer and seller, but digital currencies have revolutionized the field. It aids the online platforms and marketplaces to make real estate deals more comprehensively. Crypto has done an astonishing job by tokenizing properties by allowing the public to tokenize their assets, handling it like a stock sale, and liquidizing that asset through the token sale.

No Intermediaries:

Studies show that blockchain may soon eliminate the need for intermediaries such as brokers, lawyers, and real estate agents by enabling the public to enlist and sell a property themselves and hence get more money out of a transaction.

Liquidity:

As real estate deals take a lot of time to be concluded that makes the field quite illiquid but blockchain has resolved that issue too and real estate is gradually becoming a liquid state.

Fractional Ownership:

Conventionally, people would require a huge sum of money to purchase any property. But with blockchain people only need access to any trading app to make a transaction even with a little sum of tokens, as they see it fit.

Decentralization:

Lack of transparency and trust has caused many institutions to be demolished to avoid which blockchain system has transparency and trust as its core values. All the data is equally accessible to all the members of the system thus placing trust and transparency as the core elements of decentralization.

Costs:

Blockchain also provides you with the facility of saving more money by shielding you from paying many extra payments that are associated with real estate such as inspection costs and taxes etc.

Hence, we can say that if crypto and blockchain currencies get legalized in Pakistan, it is going to revolutionize all the fieldsincluding real estate providing another platform for real estate investment that will make dealing transactions much easier. As the demand for crypto is increasing continuously many international firms have stepped ahead to provide people make transactions related to real estate through a digital currency that will make these dealings much more transparent and reliable. We hope to see such an enormous and bright future of the real estate and digital currency in Pakistan too.

      TheMillennium Builders is one of the leading giants in the world of real estate in Pakistan that keeps you stay updated with the latest trends and updated information about real estate. 



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