Bitcoin (BTC) officially entered the real estate industry

On September 4, Bitcoin (BTC) officially entered the real estate industry as Japanese real estate company Ruden Holdings announced it was testing its “Bitcoin virtual currency settlement platform,” writes Ambcrypto.

According to Ruden Holdings, the experiment to use bitcoin in transactions with BBT real estate is being carried out in collaboration with Blockchain Global Limited, a blockchain company committed to making transactions secure and transparent.

The project also involved the popular Bitflyer cryptocurrency exchange, the largest trading platform in Japan by volume. Some steps took place using the NEM test network. Thanks to publications in the media and links with the Venezuelan Petro NEM is increasingly used.

In the company's release, recommendations are given for conducting transactions, the very purchase chain itself is simple: the buyer selects the property from the list offered on the site and transfers the necessary amount in Bitcoins to the Ruden virtual currency account.

When the transfer is completed, the company will convert the bitcoin to the Japanese yen and complete the transaction:

“Once the Ruden system has confirmed the transfer of the virtual currency, we will complete the contract by converting the virtual currency into Japanese yen. Further, a notarized contract of sale is immediately transferred to the buyer and seller.

It is reported that the new method has many advantages over the traditional way of conducting real estate transactions. One of the advantages is a significant savings in the time required to complete transactions. In addition, smart contracts ensure the purity of the transaction:

“This not only increases the efficiency of operations, but also reduces the likelihood of unforeseen circumstances.”

Also, the company said that soon the model applied in Japan will be launched in friendly cryptocurrency countries.

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