Cryptocurrency is a payment that is being slowly but eventually being introduced in the world's economy, and many are anticipating it in the real estate market.
Based on the survey results of a certain company, the feedback on the usage of the said payment is very good, to the point that very many individuals and groups are excited about it.
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Survey Report for the Usage of Cryptocurrency in the Real Estate Market
According to AiThority.com, a recent survey was done by a certain company named World Series of Golf (WSG).
In the results of their recent survey, they have received a survey feedback score of 95% when it comes to the usage of cryptocurrency in the real estate market. This is after they have surveyed a few people who are in the real estate market. Many are optimistic that the usage of the said payment method by the said company can help people with their rental property acquisition.
Those whose answers belonged to the 95% do support WSG's goal of integrating and using the cryptocurrency as a mode of payment for real estate business deals and agreements.
Meanwhile, 84% of those who are surveyed are interested in using cryptocurrency instead of regular money to purchase and/or rent real estate properties currently in the market.
VaycayChelle: A Game Changer?
Lastly, there are 12% of people who were surveyed have shown interest in owning Vaycaychella, a subsidiary of WSG that specializes in owning short-term rental properties through the payment of cryptocurrency.
For those who are not informed, Vaycaychella was acquired by WSG last year and will soon have a name change sometime soon. As for what is the purpose of Vaycaychella, it has built peer-to-peer (P2P) solutions that are usually focused on technology in mind.
The purpose of that P2P solution is meant to connect short-term rental property buyers with potential alternative investors in the market. In the said solution, a Visa Card solution is involved in the cryptocurrency component of it.
Additionally, the said subsidiary is known for various short-term property investments that are usually related to vacation properties. Do take note that the said properties are those that don't qualify for conventional mortgages set up by many mortgage lending institutions and companies.
Now under the WSG banner, Vaycaychella is aiming to scale its business model by introducing P2P technology in the said market.
WSG's Announcement of Creating and Developing a Real Estate Cryptocurrency
According to Cision PR Newswire, WSG has announced the creation and development of a cryptocurrency strategy that can be easily used in the real estate market industry.
They have recently announced this plan and strategy on the 20th of January, 2020. That is when the survey for the above topic was held.
The main reason as to why WSG started this is due to the burgeoning of the short-term rental property sector in the overall real estate market.
That issue was evident in the previous incident of Airbnb IPO (their stock prices), wherein it was affected negatively by the said issue in the short-term rental property sector.
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