Sales of US properties drove the increase in global commercial real estate in the third quarter of 2021 as the market continued to rebound from the pandemic. According to Real Capital Analytics latest Global Capital Trends report, worldwide sales of income producing commercial real estate rose 92%, almost double, from third quarter 2020. Multifamily and industrial led transaction activity in the US, as buyers turned to those sectors benefiting from structural changes.
Against this backdrop, cryptocurrency continues to be a burgeoning global phenomenon with the volume of blockchain and cryptocurrency interest rising over 881% in the last year. (Chainalysis, October 2021).
Contracoin, an international real estate exchange, aims to revolutionize the role played by cryptocurrencies in commerce and payments. Contracoin has built a platform on the secure Ethereum blockchain and uses smart contracts to enable the sale and purchase of real estate globally. Users of the platform can apply their Contracoin CTCN token as full or partial payment for their properties. In this way, investors can gain access to both fiat and cryptocurrency investors from all over the world.
Barry Lipscombe, CEO of Contracoin, explains the process, “The ERC-20 Contracoin token is designed to streamline cross-border property transactions by eliminating complicated banking processes and excessive fees. Speed, reduction of costs and increased security and transparency will enable investors to purchase real estate globally in a manner that has not been possible before.” For more information on Contracoin, contact Mr. Lipscombe at Barry Lipscombe.
