Portland, Washington, is one of the first major markets in the US to announce the opening of a cryptocurrency trading platform.
PortlandReal, which will be the world’s first fully cryptocurrency-traded real estate portfolio management service, is scheduled to launch in the first quarter of 2019.
The company plans to offer an automated real estate marketplace, which allows anyone to sell or buy properties in a geographic area, with real estate agents providing real estate services for those properties.
“It’s an amazing opportunity to connect people with real-estate assets and invest in real estate for real-time investment,” PortlandReal founder and CEO Jason Miller told BTCNews.
“Real estate is an incredibly complex asset class and the opportunities in real-life investing are endless.”
The company also plans to make the platform accessible to the public via an API, which makes it accessible to developers, investors and other third parties.
The company has announced that it is already in discussions with several real estate companies.
According to Bitcoin Magazine, PortlandReal’s partnership with the Bitcoin Foundation is expected to bring about $1 million in annual revenue to the Portland area, which would represent a significant contribution to the local economy.
Bitcoin’s future prospects are unclear at this time.
However, the platform will allow developers to use cryptocurrencies in real time for all types of real estate investment, including office space, hotels, condominiums, and homes.
One of the main attractions of PortlandReal is its high growth rate, which has been estimated at 5,000 new residential apartments per day in the next three years.
“It will be incredibly helpful for developers to have a platform that allows them to connect with customers and their potential buyers, who may not be in the real estate space, but they will be able to trade, and have real estate data available in real life,” Miller said.
“The real estate market is a great place to invest in.”
Miller is not alone in believing that the cryptocurrency can be a useful investment tool.
The blockchain-based technology also makes it possible for companies to track their assets in realtime, while also allowing for an anonymous transaction system.
Real estate agents are also currently in talks with developers about offering cryptocurrency trading services, but this is still in the planning stages.
If the company does open a real estate platform in the near future, it will likely offer more details about its technology in the coming months.