On August 6, 2020, HashCash Consultants announced they would start offering crypto real estate exchange to global enterprises involved in the property sector. The company is a global software company offering solutions in Blockchain.
The US-based firm is intensifying efforts to revolutionize the property business and investment options within the sector. The company achieves this by offering clients and partners a blockchain-based crypto real estate exchange solution. The exchange will facilitate the trading of real estate tokens.
HashCash exchange users can either use established cryptocurrencies or popular real estate digital assets listed under the platform.
The HashCash real estate exchange and asset trading platform brings together blockchain tech, crypto, and real estate. All these attributes will help eradicate the issues that plague the realty industry and successively improve operations within the sector.
Moreover, the crypto real estate exchange’s scalability will enable enterprises to integrate it into their architecture with ease.
Crypto Real Estate Deals Gain Momentum Globally
The restructuring of the property business via blockchain integration has gained momentum across the globe in the past few years. Additionally, more investors are now showing interest in purchasing tokenized property.
According to Raj Chowdhury, CEO at HashCash Consultants, there is visible reluctance among investors in putting their funds on properties. The primary reason for this is the high capital barrier of real estate combined with low volume liquidity.
Raj argues that these factors make real estate investments inaccessible and opaque, necessitating the incorporation of Blockchain and crypto into the sector to helps in the tokenization of property assets.
While the tokenization of real estate is still in its developmental stages, there has been steady progress in this space. For instance, tZERO has joined forces with Aspen Digital to support the trade in a resort-backed token.
Similarly, property tokenization platform RealT recently finalized the offering of several tokens representing proprietorship in Michigan-based properties.
Bitcoin Provides Foundation For Tokenized Property
The integration of smart contracts in blockchain platforms allows real estate to be tokenized and traded as cryptocurrencies.
This week, the developers of Goldwyn, a significant new development in the Bahamas, announced they would accept cryptocurrency, including BTC and BCH.
As the number of completed BTC property purchases has grown, the foundations have been laid for the next generation of tokenized property purchases.
Marvin Steinberg, a renowned entrepreneur, commented on the evolution of real estate deals noting:
“Given the ability for tokenization of real estate to lower capital costs while increasing liquidity, it was natural that this should become the first industry where security tokens gain a foothold.”
In conclusion, it is clear that the convergence of real estate and cryptocurrency is no longer a speculation, but a thriving industry that has already started showing great promise.