Moveli - a relatively new and independent UK estate agent who concentrate on upmarket properties - have updated their website, allowing potential customers to see the value of real estate for sale priced in Bitcoin.
A simple drop down box on the 'properties for sale' page enables users to toggle between a range of fiat currencies and now Bitcoin as well.
The agent is said to use market prices reflecting real-time cryptocurrency exchange rates.
First Step in Modernising the UK Real Estate Market?
While any financial transactions will still be made in British Pounds (£GBP), Moveli have provided a means in which to view property values in BTC which can be seen as a first step in bringing UK property into alignment with the world of digital currencies.
Although not as revolutionary as being able to buy property with Bitcoin, the move is welcome as the Real Estate market in the UK is saturated with staid and conservative brokers who have been slow to adapt to the developing global financial transition to digital currencies and tokens.
Speaking to Estate Agency Today, Moveli's co-chief executive Ben Littlewood said "Whether you’re a BTC advocate or just curious, it’s exciting to see property listed in BTC...In an increasingly global world, where property is a core asset class and Bitcoin is gaining traction as another, this felt like a natural and forward-thinking step for us..."
A Fully Tokenised Property System?
It has been several years since the UK Government announced their intention of exploring blockchain technology to "revolutionise the land registration and property buy-sell process."
Back in 2018, Graham Farrant, Chief Executive of HM Land Registry, admitted they were looking for ways to "...develop a faster, simpler and cheaper land registration process."
Slowly But Surely
As we can see, the UK Real Estate industry is notoriously slow to develop... but they can be seen as almost rocket like when compared to UK governmental departments.
But there are signs that maybe, just maybe, the two of them will eventually align to provide a truly modern, functional property marketplace.
