The real estate industry is one of the most valuable sectors of the global economy. Most properties are expensively valued starting from a small-sized family home to a super tall multi-story mixed-use suburban development.
An observation is being made by Carmen Benitez, the managing director and president of Fetch Plus, Inc-a global tech company that specializes in digitizing transactions and assets-that a digital revolution in the real estate industry is underway.
Carmen has hence compiled a report that is exploring the different facets of the ever-dynamic digital world and one of the most evident finding is that Cryptocurrencies such as Bitcoin have transformed into hybrid assets that are digital representations of the properties.
Looking At Cryptos As Assets
In Cryptocurrency markets, Digital Tokens are being adopted at an increasing pace for investment purposes. This is because they are seen as commodities that have the potential to earn interest like traditional stocks.
Further, the trend does not stop there, but Cryptocurrencies, such as BTC, are being used for digital representation of properties in an otherwise fast-paced world. This is taking place in Distributed Ledger Technology-based platforms that have properties such as privacy, security, immutability, transparency, etc. that are fundamental for credible real estate transactions.
Paying For Property With Cryptos Equals Digitization
For the digital representation to occur, real estate clients have undertaken transactions in Blockchain platforms that support the use of Digital Tokens such as Bitcoin. The platforms that can also be apps that record titles, and property transfer transactions in real time. Since DLT is a smart system that operates on protocols, errors are prevented and this ensures that the records are trusted by all parties.
Other benefits of paying with Cryptocurrencies include; seamless cross border transaction facilitation, zero or low fees on Crypto transfers, decentralized operations, no government interference, fast transactions, etc.
Double Interest Yields?
The use of Cryptos presents a chance to investors in the real estate industry to earn interests from two fronts. Firstly, players can earn interest from property value appreciation which is likely in most markets. Secondly, the sellers who hold cryptocurrencies can benefit from bullish conditions that are more likely after increased adoption and favorable government regulation policies.
Therefore, property owners end up owning two types of assets- Crypto assets, and real estate properties where both can appreciate in value.
Digital Representation Is The New Trend
BTC and other Cryptos are both a prime piece of an investment asset as well as a replacement for real-world money. This is a growing trend that is defining the growing digital representation that has been observed by Carmen Benitez. This trend has the potential to lead to economic development that is digital in every facet.
Cryptos In Everyday Life Is A Reality
With real estate leading the way, the use of Cryptos in everyday life is becoming a reality as governments, banks, and businesses adopt Tokens. For instance, Ohio State has legislation in place that allows BTC-based taxes.
Meanwhile, Fetch Plus Inc. under the leadership of Carmen Benitez has created a new subsidiary called Fetch Blockchain Ltd. The DLT unit has already deployed an AI and Blockchain-based app known as Sesame that offers property digitization solutions.