Housing developer to accept deposit and rent in Bitcoin
By the end of the year, the building, The Collective, will also accept the payment of bitcoin rentals.
This is the first time in the UK that a major real estate developer has allowed bitcoin payments. The Collective said it was in response to demand predominantly from international customers.
On Monday, the online booking form for the Collective’s old oak cohabitation program, the largest development of living together in the world with 550 rooms, announced that tenants will have the opportunity to pay their rent using bitcoins from this autumn.
“The increase and adoption of encryption worldwide, especially bitcoin, is a fascinating development of how people store value and do business for goods and services around the world,”he said.
declared the general manager and founder The Collective, Reza Merchant.
“With many savers and investors now choosing and feeling more comfortable with encryption, people will expect to use it to pay for the essentials of life, including deposits and rent.
The model of the Collective is to give tenants a life without problems similar to that of a student living room, but for people who start their careers.
The company has recently announced that the London Legacy Development Corporation has been established to grant the world’s first co-living authorization for its last building, a project of 250 premises and 19 floors in Stratford, which will be opened at the end of 2018 or early 2019.