With all the buzz of crypto lately, how, and when will we start seeing cryptocurrency come into real estate.
A lot must happen after mass adoption after breaking into the mainstream. In this article by Joel Valenzuela titled Mass Adoption may take crypto toward centralization on Cointelegraph states, one thing to highlight is the “Lighting Network that introduces a whole new host of complexities that include liquidity balancing, opening and closing channels, routing payment paths, maintaining connectivity at all times in order to receive funds and so on.
The most challenging to new users is moving funds off-chain onto the Lightning Network requires an on-chain transaction, triggering those awful, long confirmation times and high transaction fees.”
Goes on to state that developers are working tirelessly to develop a new generation of Lightning Network wallets that would improve the user experience to a level where a nontechnical user may be comfortable using them.
Now why is this important and how does it factor into real estate? There is a lot to be settled and ironed out for it to be accepted to conduct business but consider this, the minute the majority of the cryptocurrency users decide on the favorable wallet to conduct business, that will be the vehicle as a means to purchase or invest in assets as the world transitions to a digital currency.
Now how long will it take? Your guess is as good as mine with so many wallets out there to choose from as the world is still deciding on the preferred wallets.
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