2 years ago
According to an enforcement with the Dubai-based DAMAC Properties, the existent property improvement “company has already succeeded successful concluding existent property deals worthy $50 cardinal via cryptocurrencies since the opening of this year.” The executive, however, says his institution is facing challenges convincing the older procreation decision-makers to bargain into the metaverse, non-fungible tokens, and cryptocurrencies.
Using a Trusted Intermediary
The Dubai-based existent property developer, DAMAC Properties, has since the opening of the twelvemonth completed cryptocurrency deals worthy $50 million, the company’s main operating serviceman (COO) Ali Sajwani has said.
In his remarks during an interview, the COO said by accepting either bitcoin oregon ethereum arsenic payment, DAMAC has shown the grade to which his institution volition spell successful bid for it to “benefit from the astir precocious exertion solutions.”
When asked astir the outgo mechanics that was utilized to reason the existent property deals, the COO said a trusted intermediary had been chosen to facilitate the transactions. He said:
The outgo process is made done a trusted fiscal intermediary approved by the Abu Dhabi Global Market, the ‘Heaven’ company, wherever the lawsuit pays the worth of the spot successful bitcoin oregon ethereum, arsenic they are among the astir traded integer currencies successful presumption of information and trust, and past the fiscal intermediary transfers the magnitude to our integer wallet successful dirhams oregon dollars.
Sajwani added that his company’s usage of a trusted fiscal intermediary means DAMAC Properties is capable to destruct the terms fluctuation risk. A antithetic report has identified the regulated intermediary utilized by DAMAC Properties arsenic Havyn integer plus exchange.
Impediments to Accessing the Metaverse
Meanwhile, successful the aforesaid interview, the COO spoke of the challenges oregon impediments that his institution faces erstwhile it comes to accessing the metaverse. According to Sajwani, 1 of the hurdles facing proponents of emerging technologies see “convincing the aged procreation of decision-makers to instrumentality speedy and proactive steps to put successful this caller and unfamiliar world.”
Also, since the metaverse, NFTs, and cryptocurrencies are inactive reasonably new, prospective users request to go acquainted with these first. According to the COO, this means decision-makers volition person to bash an in-depth survey oregon probe earlier they tin commencement investing.
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