The Blockchain technology has reinvented industries, government institutions and even basic routine
tasks like grocery shopping. It has applications in a wide range of industries that include finance,
banking, supply chain industry, and automotive, as more and more sectors have been adopting the
Blockchain platform.
Recently, a new Blockchain-powered platform, Bitsrent has emerged as a game-changer in the rental
and leasing industry.
The Problem
Traditionally, home and business owners undergo a great deal of difficulty dealing with their properties
due to the complex rental policies and leasing agreements. Often the lack of transparency leads to
problems for both the tenants and landlords. Sometimes, a party engages in fraudulent practices by
tampering with the property documents and gets away undetected and unpunished.
Often these issues lead to legal cases, and what may seem like a small misunderstanding culminates into
damages of greater proportions for all the stakeholders involved.
The Answer
So the question that arises from the above-mentioned predicament is how is it possible to increase
transparency in the rental and leasing industry?
Well, the answer lies with Blockchain technology which can be used by a trustworthy cryptocurrency
platform to ease the daily worries of all the stakeholders involved in the rental and leasing industry. This
application is provided by the Bitsrent.
Bitsrent has used the transparency of the Blockchain to ensure valid and reliable transactions. Since,
Blockchain is immutable; hence it is not possible to tamper with its data.
Bitsrent helps by:
Decentralization – Unlike other tokens, Bitsrent does not use the term ‘decentralization’ half-
heartedly. Instead, its own premise of facilitating users depends on the decentralization of the
rental and leasing processes and preventing its users’ loss of time and money from the
traditional centralized authorities.
i) Smart Contracts – Bitsrent uses the most popular feature of Ethereum known as Smart Contracts
in tandem with the Blockchain to maximize its potential. With Smart Contracts, leasing
agreements can be improved greatly as Smart Contracts run independently and executes tasks
based on terms and conditions that are agreed upon by both the parties.
ii) Negotiation – This means that clients will not have to meet their landlords and real estate agents
face-to-face and can easily use Bitsrent’s platform to negotiate a fair price for the rent.
iii) Global Reach – Whether you are moving abroad for your studies or you want to expand your
business, you do not need to indulge yourself in the complexities of the traditional rental
procedures and can be equipped with a global tool through the Bitsrent platform. Bitsrent helps
clients pay from anywhere at any time.
iv) Automation – Standard and mundane activities and tasks that are required in the leasing
industry expect individuals to travel a great deal for the provision simple details regarding their
personal, residential and financial matters. Bitsrent aims to rescue individuals from these time-
consuming activities and helps automate the submission of these details easily through its
platform.
Final Thoughts
Bitsrent is not the first cryptocurrency in the real estate industry, nor will it be the last. However, its
applications and execution so far seem promising. With the support of strong partners like Uber, Hertz
as well as a vastly experienced team behind its back, Bitsrent has the potential to change the rental and
leasing processes for the better. The official pre-ICO of the token is expected to be launched in
September 2018.
