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Rent your Next Apartment with Cryptoby@stayawhile
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Rent your Next Apartment with Crypto

by StayawhileOctober 5th, 2017
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<em>Digital currency and </em><a href="https://hackernoon.com/tagged/blockchain" target="_blank"><em>blockchain</em></a><em> </em><a href="https://hackernoon.com/tagged/technology" target="_blank"><em>technology</em></a><em> have the potential to revolutionize a wide swath of industries in the 21st Century. Reducing the costs associated with the large cross-border payments often required to make real estate transactions is one of the most immediate use cases.</em>
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Digital currency and blockchain technology have the potential to revolutionize a wide swath of industries in the 21st Century. Reducing the costs associated with the large cross-border payments often required to make real estate transactions is one of the most immediate use cases.

At Stayawhile, our mission is to create a world with fewer borders. We’re building a network of furnished designer apartments in the world’s most dynamic cities, and we want everyone to have equal access.

Unfortunately, there are both structural and financial barriers that often prevent international citizens from renting apartments in countries where they do not own assets. Institutional landlords generally prefer not to rent to foreign clientele since it is difficult to assess their creditworthiness or to seize their assets when they are held in overseas bank accounts.

To make matters worse, residents of certain countries face currency devaluation by their home governments that make large purchases in foreign markets unjustly expensive.

Even for domestic renters, the process could be highly improved. Most security deposits are completely trust-based, and renters regularly lose money while being left with little legal recourse or leverage.

The process for renting apartments in international markets has long been burdened by the complications of an antiquated system.

But what if moving to a foreign city and renting a great designer apartment were as simple as transferring digital currency?

A housing ecosystem for the modern era.

We believe building a blockchain-based utility token into our network will help resolve many of these issues:

  • Increase transparency — the blockchain serves as a public ledger to ensure that all transactions, including security deposits, are a matter of public record.
  • Lower transaction costs — typical credit card vendors like Stripe charge 2.9% + $0.30 per transaction while Coinbase charges only 1.49% for Ethereum conversion. Current median gas costs to send Ether are approximately 10–20 gwei per transaction, which is about $0.08.
  • Assess credit — over time, we will be able to track payment history on the blockchain and the user will be able to accrue a credit history unique to the Stayawhile network but which may ultimately become applicable to a far broader universe of creditors and companies.
  • Build community — we also are building a community around our network, and we want our token holders to have a say in the company’s direction. Token holders will hold access to booking priority and be able to vote on locations for the future expansion of the network.

Enter the Stayabit. Find out more: token.stayawhile.com.