New Crypto to be Backed by REITS
European fintech BrickCoin is creating a new crypto that is going to backed by real estate assets. Already registered in three countries, BrickCoin hope that using REITs ( Real Estate Investment Trusts) to back the new cryptocurrency will keep the price of it stable , while still remaining highly liquid. Because REITs are stringently regulated , they are hoping that it lends an air of legitimacy to cryptocurrency, an important step towards in mainstream acceptance. Business Insider reported the following:
European fintech BrickCoin announced it will be rolling out brickcoins, a new proprietary cryptocurrency underpinned by blockchain, and backed by real estate held by Real Estate Investment Trusts (REITs).
Even the big banks are starting to take the blockchain seriously
http://www.businessinsider.com/startup-working-on-a-real-estate-backed-cryptocurrency-2017-6
Interesting, it makes sense.. inevitable even. Still, seems like most ppl are just interested in buying these ico's like lottery tickets and hoping to get rich. "Stable" is good for business, but perhaps not what a lot of ppl want to hear. Whst are your thoughts?
Thanks for responding to my post. I agree that people are going to look at it as more of a speculative investment right now - but there are also a lot of people who see the long term prospects and are investing for the long term also - which is how most investments should be approached unless you're a day trader or speculator. I posted another article about how hedge fund managers are starting to put crypto in the funds they manage to help mitigate the volitility of them while profiting from their gains - I think this kind of exposure is going benefit the industry because as large hedge funds start making millions on them and fully realize their potential - they will start pushing crypto onto the public and we will hear more about it on CNBC and the like, until investing in crypto becomes standard fair... and right about then, we will see demand for it skyrockeet as it dawns on the rest of the world that this is REAL currency that translates in to real spendable money. Thanks for the upvote!
that's a good point, hedge funds have been jumping in the space. Even the likes of Mark Cuban and Rick Rule. Ought to be interesting moving forward that's for sure.