Hi there everyone, skyehi here, it's been quite a while since cryptocurrency first got introduced to the world.
The first was Bitcoin and at the time a single Bitcoin was just at the price if one dollar. So could you imagine the people that invested into it at that time. They're basically millionaires at the moment.
Nowadays people can make some online and even offline purchases with cryptocurrency. There's a project on Hive called the Hive Sucre Cryptoadoption project where people living in the state of Sucre can actually purchase items using HBDs.
I had this very interesting thought though, imagine if Real Estate properties can be purchased using Cryptocurrency.
Simply imagine the benefits like transparency which would definitely reduce fraud, the ease of transaction between the buyer and the real estate agent and the low fees of transactions.
When buying an entire house, banks definitely charge very high fees for transacting the money from the buyer's account to the property seller's account.
Imagine if we can send some Bitcoins or even Hive tokens and own a house. How cool will that be.
Although we also have to be careful of scammers that would pose as real estate agents when they're actually not.
Every transaction is recorded on a public ledger though and can be traced or tracked so there's a little bit more security.
I would definitely love to hear your thoughts on that idea and want to know the challenges that you think will be involved in such a concept.
Have a lovely day guys, bye.