Friday, August 25, 2017

Cryptocurrency backed by real estate? Welcome to BrickCoin

Although cryptocurrencies have been around since at least 2009, it was only this year where their presence in the financial sector really began to explode.  And alot of this has been due to advances in technologies created using the blockchain, and the potential of using digital tokens in lieu of paper and physical assets.

Yet besides the cryptocurrencies like Bitcoin which are backed solely by confidence and processing power, a number of cryptos have arisen that are being backed by commodities such as gold.  And on Aug. 25 we can add an additional asset class to their backing as the emergence of BrickCoin will be a cryptocurrencies tied to real estate, and real estate trusts.

Unless you live under a rock, there is no doubt that you’ve been hearing all about Bitcoin, Ethereum and other cryptocurrencies. Well now there’s yet another new cryptocurrency in town, only this time it’s backed by real estate
Called “BrickCoin”, the new currency is essentially a blockchain-based financial platform backed entirely by the stability of Real Estate Investment Trusts (REITs). Blockchain, for those who’re uninitiated, is the software platform that underpins Bitcoin and other cryptocurrencies, acting as a kind of distributed ledger that validates all transactions. 
Lucas Cervigni, one of the creators of Brickcoin, told Property Investor Today the main idea is to use the new currency to underpin an entire financial platform aimed at protecting individuals’ true wealth from the inflationary impact of FIAT currencies. – Reality Biz News

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