Cryptocurrency could be the next frontier in corporate housing. Want to know why? We listed some reasons for that.
In 2009, cryptocurrency, a revolutionary and decentralized payment system was released onto the market. Bitcoin, while not widely publicized in the beginning, began making its mark on the world for many reasons. It enabled everyday people and businesses to bypass financial intermediaries, and it also opened the door for new investment opportunities.
However, while there were people who said cryptocurrency would never take off, it’s clear to see it has. Different industries are now accepting it as a valid payment method, with corporate housing set to be the next. Here is why cryptocurrency could be the next frontier in corporate housing.
Publicity and Cryptocurrency
While fiat money will always have its place, decentralized digital currency is fast becoming the “next best thing”. Leading coins such as Bitcoin, Litecoin, and Ethereum, are all slowly making their way into daily life, it’s only a matter of time before the corporate housing industry jumps on the bandwagon.
Avid investors will leap at the opportunity for a more seamless payment system for business trips. Media outlets will also want to be the first to break the news, and more and more people will be interested in the new and exciting concept.
Corporate Stays is set to be one of the first, if not the first corporate housing company to introduce cryptocurrency as a valid payment method. Soon will be time to open up that digital wallet and book yourself an apartment on your next business trip.
Blockchain Equals Profitability
Corporate housing and most accommodation providers struggle with the daily battle of costs versus profit. It’s crucial to have your accommodation listed on leading websites for better exposure but it has a cost.
By introducing cryptocurrency and blockchain networks to your corporate housing business, you’re able to reduce your costs, introduce smart contracts and decentralize your payment system. Basically, it can make everyday corporate housing operations for both clients and owners far more user-friendly.
Offering Customers Options: Cryptocurrency
While there are always flexible payment and account options on offer with most corporate housing companies, there’s nothing wrong with introducing more choice. People love variety, and there’s every reason to make cryptocurrency a valid payment option.
At least 8% of the American population has invested in cryptocurrency, and three in four people know what it is. With growth on an upward trend, customers will enjoy being able to choose whether they pay with Visa, cash or transfer Bitcoin to the corporate housing account.
No More International Barriers
Traditionally, making and receiving payments from overseas customers was a challenge. The corporate housing industry deals with a lot of regular business travelers making it essential to have a system that encourages seamless payment processes. Cryptocurrency does.
Cross-border transactions can be costly, not to mention slow. In the near future, you will be able to make payments from anywhere in the world!
Cryptocurrency is quite obviously here to stay. While it had humble beginnings, worth mere cents, it hit new heights in December 2017, being worth close to $20,000. While cryptocurrency’s value can fluctuate substantially, its benefits far outweigh its negatives.