Cryptocurrency backed by real estate
Cryptocurrencies are day by day gaining trust within the markets as an alternative to fiat currencies. Most people have heard of Bitcoin which is the original and main investment in the cryptocurrency space, however since its inception we have seen a whole range of companies releasing their own coin, each one hoping to make a tonne of wealth in the process.
This decentralization of money is allowing anyone to create their own currency and is leading to a disruption of currency. Traditionally all currency has been owned and controlled by governments, but now we have privately owned currency we are entering an unknown period of how money will look and behave. Due to the rapid increase in value of Bitcoin, many people are saying it is in a speculation bubble that will soon pop and result in investors loosing a tonne of wealth. The reason being is that bitcoin is not backed by anything, it is purely speculative. However many companies are working on solving this issue by tying a new cryptocurrency to real estate holdings with the value of the coin increasing with a property portfolio or cashflow stream from the assets. Here are a few companies playing in this space.
There have been many companies who are constantly trying to mainstream the crypto currency. According to the Business Insider reports it is said that Swiss based company BrickCoin is planning to send out “real estate investment trust” a currency called Brickcoin. It will work in the same fashion as other currencies do on the blockchain technology. According to the Brickcoin, they are challenging the traditional ways and are making real estate investment possible with the help of cryptocurrencies. It is considered to be one of the smartest ways of investment. Brickcoin claims that there are many people who have already invested with them as a way to invest in real estates and they claim to be the future of cryptocurrency.
Wealth Migrate has entered the market with their Wealthe Coin. Wealth Migrate has been helping investors invest across the globe for the last 10 years and this new cryptocurrency is yet their latest venture in their portfolio of emerging technologies that allow anyone to invest in property and create wealth.
One more such company is the real estate evolution also known as REX. Rex is said to be working in “real estate services which work on the blockchain. They have a search portal which helps you search for all the properties anywhere in the world. Direct stream promises to provide a world access to real estate information and to channelize the transactions. Rex will also provide tokens to the people for posting properties and being active on the website.
This company also plans to back up real estate in the real world by introducing Crypto assets. The main idea for them to introduce these Crypto assets is to make the real estate market more explorable for the crypt asset holders. Now being a part of the decentralized economy it will help the crypt asset holders in creating rental income and to get capital appreciation from the properties. They are said to follow the IASI 20 token standard. This will allow them to integrate themselves with other blockchain services. They will be having a unique token ID for every property that is present on the platform. The idea of making the real estate which cryptocurrency is to make the properties available for everybody irrespective of their domicile.
Bitproperty is also one of the companies that are backing real estate with crypto currency. This company operates on the income generated by real estate. The vision of Bitproperty is to become the number one cryptocurrency real estate company. With the help of which property investors will be able to invest in the real estate investment trust at a lower cost. Token investors will be given a share of the investment in terms of dividends for the holding period of time.
Cryptocurrencies are definitely picking up and this is a huge step when we say that crypto currency will be entering the mainstream. Where this goes we do not know, but it is safe to say that with this many players now entering the market it will not be long until we have a working viable model for real estate backed cryptocurrency.