Property in Miami Beach was recently purchased using cryptocurrency. Real estate developer Corey Shader believes this is just the tip of the iceberg.
FORT LAUDERDALE, FLORIDA, UNITED STATES, January 26, 2022 /EINPresswire.com/ — Cryptocurrency is becoming more commonplace by the day, and it’s starting to permeate every business sector. As real estate developer Corey Shader explains, cryptocurrency and the blockchain have the power to completely transform real estate transactions.
In late May, the full effect of cryptocurrency on real estate transactions was seen first-hand in south Florida when the most expensive penthouse in Miami Beach sold for $22.5 million. The sales price or the fact that it was paid for in all cash weren’t the shocking parts, though; it was the fact that the transaction was paid for completely using cryptocurrency, with the buyer remaining anonymous.
Many current real estate listings throughout the country also include the fact that the sellers will accept various digital currencies as a method of payment.
But, the true power of the blockchain isn’t relegated just to cryptocurrency and the ability to pay for homes in digital currency.
Platforms that run blockchain can speed up real estate transactions and ensure they are recorded in a more safe and secure fashion. This reduces the potential for fraud, which is especially important as more…
