{"id":1557,"date":"2021-07-27T13:00:46","date_gmt":"2021-07-27T17:00:46","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=1557"},"modified":"2024-04-25T23:19:59","modified_gmt":"2024-04-26T03:19:59","slug":"blockchain-in-payments-and-real-estate-transactions-notable-news","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/blockchain-in-payments-and-real-estate-transactions-notable-news\/","title":{"rendered":"Blockchain in Payments and Real Estate Transactions: Notable News"},"content":{"rendered":"\n
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In recent real estate industry news, Rick Caruso<\/a> committed to cryptocurrency. Caruso is the owner of the Rosewood Miramar Beach in Montecito, California. Cryptocurrency is now accepted at Caruso\u2019s shops, where customers may earn bitcoin to spend at the resort \u2014 or to pay rent at the company\u2019s luxury apartments.<\/p>\n\n\n\n

Yes, bitcoin will be the coin of the realm at Caruso rental properties. Not far from Hollywood are The Luxury Apartments<\/a>, above The Americana at Brand. Here, renters will send payments through their digital wallets on the Gemini blockchain platform. <\/p>\n\n\n\n\n\n\n\n

High Conviction<\/strong><\/h2>\n\n\n\n

Gemini is a good fit for Caruso\u2019s properties. Gemini now works\nwith Flexa, a fraud-resistant payment system that lets people spend digital\ncurrencies at brick-and-mortar shops, instantly and without conversion charges.\nIt\u2019s one more real-world use case demonstration for blockchain. <\/p>\n\n\n\n

Caruso is confident that bitcoin \u2014 like credit cards and\nelectronic payments before it \u2014 is here to stay. Over time, Caruso thinks, the\nasset\u2019s day-to-day spikes and dips should settle into a predictable range.\nAnticipating the financial landscape ten to 20 years from now, Caruso said an allocation\nof 1% of the company\u2019s investment portfolio is a timely and critical diversification\nstrategy.<\/p>\n\n\n\n

Beyond the Niche<\/strong><\/h2>\n\n\n\n
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The number of blockchain wallet apps<\/a> is rising at a remarkable clip. Bitcoin\u00a0and other\u00a0blockchain-based assets have captured the public imagination around the world. <\/p>\n\n\n\n

\u201cCrypto assets have outgrown their niche and are becoming\nincreasingly popular with European consumers,\u201d writes Stefan Berger, Member of\nthe European Parliament. <\/p>\n\n\n\n

So, to retain its digital sovereignty, the European Union\nhas rolled out a five-year pilot plan to establish a digital euro. Bank\ncustomers will get digital wallets for their digital euros \u2014 which have a\npredictable and stable value, and complement cash. <\/p>\n\n\n\n

Other Centralized Cryptoassets<\/strong><\/h2>\n\n\n\n
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Meanwhile, China\u2019s digital yuan is already circulating in several cities. Bitcoin is legal tender in El Salvador<\/a>. The Bahamian digital dollar<\/a> is issued and endorsed by the Central Bank of The Bahamas as a safer, more inclusive, more efficient currency. Blockchain is becoming synonymous with the modern currency system.<\/p>\n\n\n\n

Facebook\u2019s Libra Association is working on Diem<\/a>, another digital currency. Its value will be bound to the dollar and euro, but it\u2019s not just for North Americans and Europeans. As a global currency, Diem is meant to bring people with limited or no access to bank accounts into a digital economy. <\/p>\n\n\n\n

The Diem White Paper<\/a> explains its goal as \u201cenabling any person or business globally to have fair, affordable, and instant access to their money.\u201d A worker could easily send remittances to family members in another country. Renters could pay landlords \u201cas easily as they can buy a coffee.\u201d<\/p>\n\n\n\n

Reducing Friction in Commercial Real Estate Transfers<\/strong><\/h2>\n\n\n\n

Way back in 2017, Deloitte<\/a>\u00a0discussed the way blockchain could facilitate commercial real estate transactions, by offering:<\/p>\n\n\n\n