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. While not widely publicized initially, Bitcoin began making its mark on the world for many reasons. It enabled everyday people and businesses to bypass financial intermediaries and opened the door for new investment opportunities.
However, while some said cryptocurrency would never take off, it’s clear that it has. Different industries now accept 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 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 companies to introduce cryptocurrency as a valid payment method. Soon, it will be time to open up that digital wallet and book 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. Having your accommodation listed on leading websites for better exposure is crucial, but it has a price.
By introducing cryptocurrency and blockchain networks to your corporate housing business, you can reduce your costs, introduce intelligent contracts, and decentralize your payment system. It can make everyday corporate housing operations for clients and owners more user-friendly.
Offering Customers Options: Cryptocurrency
While most corporate housing companies always offer flexible payment and account options, there’s nothing wrong with introducing more choices. People love variety, and there’s every reason to make cryptocurrency a valid payment option.
At least 8% of Americans have invested in cryptocurrency; three in four people know it. 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 many 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. You can make payments quickly from anywhere in the world!
Cryptocurrency is here to stay. While it had humble beginnings, worth mere cents, it hit new heights in November 2021, worth nearly $69,000. While cryptocurrency’s value can fluctuate substantially, its benefits outweigh its negatives.