Pay with Ethereum, Bitcoin: Cryptocurrencies can be used to pay rental in San Francisco (Beenest, Bee Token)

Up until now, the use of cryptocurrencies has been limited to the online world. However, more and more start-ups are actually trying to enable the users to use cryptocurrencies for off-line transactions as well. One such startup Bee Token would actually create the rental marketplace for the shorter term. Users would be able to pay in Bitcoin as well as Ethereum in this marketplace.

Bee Token

This would actually create a link between the off-line world as well as the online world when it comes to the usage of cryptocurrencies. Moreover, since the platform would be based on the blockchain, it would be easier to process the transactions as well. The landlords would also be able to get the money instantly which would ensure that they are able to liquidate the tokens and they are able to convert it into Fiat currency. Moreover, since the platform would be connecting the tenants as well as landlords, there would be no middlemen. This would lead to saving for both. Also, the landlords would be able to approve the applications of the tenants as well. This would make it much easier for the landlords to get the right tenant as well.

Moreover, the platform would not be charging direct commissions as well. This is another reason why the cost would be on the lower side. Only on the transactions, a small fee of 2% would be charged in order to provide insurance to the landlord. This is actually a win-win situation for the tenants as well as the landlord. This is one of the main reasons why this platform is expected to get a lot of traction as well.

Moreover, it would provide short-term rentals as well which would make it easier for the tenants to stay in cities for a shorter duration of time. It would also attract the businessmen demographic as well which would make it easier for most of the businessmen to get a place for a shorter period of time.

Beenest is starting a small pilot program

Beenest is starting a small pilot program in the next 2 months. This would indeed help its platform as well as technology. With the help of this pilot test, the platform can be easily scaled up as well which would ensure that more and more tenants, as well as landlords, can be attracted to the platform which would increase the value of the platform as well as the token.

This would be a crucial link between the off-line world as well as the world of cryptocurrencies as users would be able to directly spend in cryptocurrencies in order to opt for shorter term rentals.

Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.


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