Australia has definitely been noisy about embracing cryptocurrency and the different challenges that come along with it. The year has particularly been busy; News BTC revealed that several deals have been approved between banks and corporations and cryptocurrency companies. Now, another newcomer on the scene wants to take a substantial portion of the cryptocurrency pie.
Marlene Liontis has started the cryptocurrency token House Coin as a way of providing Australian real estate with a faster means of trading. While engaging in bitcoin trading is faster and more efficient, this is also an excellent entry point for people getting started in real estate. The coin is set to come out next year, with the target being millennials who are looking for significant investments.
Bitcoin AU reveals that while millennials have significantly larger savings than previous generations, they have very little properties to show for it. That lies with housing prices going up, making it almost impossible for them to invest in properties. Many first-time home buyers and investors have struggled with these prices. This has pushed Marlene and her team, RealRenta, to establish the real estate-based cryptocurrency.
RealRenta operates House Coin in the very same way as other cryptocurrency connected with real estate works. Each coin represents a real estate property. By buying or selling a "utility token" from House Coin, buyers will be able to trade small portions of real estate. All of this is done wholly through blockchain, removing the need for the intervention of a bank or the representation of a property manager.
This is only one representation of how big cryptocurrency has become in Australia. There are other places, like Brisbane, that have been bitten by the Bitcoin bug. Local bitcoin startup TravelbyBit has been given the green light by the Queensland government to deal in bitcoin. Brisbane's airport was the first to adapt to bitcoin transactions, where other establishments also followed.
Marlene and her team have been ecstatic about being the first to offer bitcoin-backed real property shares. TravelbyBit, for its part, is proud to create digital transactions. The existence of these transactions only proves that cryptocurrency is slowly becoming the new norm, and in the future, it isn't far-fetched to create bitcoin transactions between real-world businesses.
Bitcoin is here to stay. Expect more companies like Marlene's House Coin, among others, to be the norm in real estate and in other industries.
