what about buying Berries right on their platform in seconds and paying with that.
>landlord adoption?
They already have a plenty of landlords and their whole portfolio of rents will be availible to pay in Berries.
Berry
Gabriel Nelson
Noah Martin
It's partially a way to avoid the hassles and costs of using payment processors, especially internationally. Legal issues related to money transfer or securities also go out the window because its a utility token, not a currency, not a security.
Also, as someone mentioned, they can use smart contracts for various stuff, like a staking smart contract for you to essentially crowdlend to people for their deposits, and a future function where electronic IOT locks can be installed in units that can be locked via key signature on the blockchain by the landlord if it's necessary in the process of kicking someone out, or autolocks unless the tenant pays rent on time.
Luke Harris
Exactly. There ia a lot of ways why this is good project with great potential. Anything happens this will do 10x at least.
Landon Cooper
The crowd funded deposits can cause very low token velocity, which can result in very high token valuations. However, only if they do it right. The last time I saw, their plans regarding it were really bad. 3-4% APR and you have to actually browse and select eligible people to fund deposits for yourself. It's absolute dogshit and I hope they changed that. They said "it's higher return than the 2-3% banks give in savings accounts xD" which is fucking retarded. Shitcoin speculators aren't seeking rewards of 3-4 APR. It's not a relatively stable asset like the USD and the risk and the kind of high reward seeking individuals willing to do this should be taken into account.
There needs to be another model to properly incentive berry holders to want to provide berry for it, or even hold berry at all.
Something like it should effectively operate as a fractional reserve fund to cover incidents, like insurance. If the reserve to "deposits" target ratio is 1:5 and the cost to the tenant is 5% a year, that represents 25% ROI for the crowd funders and Renberry to share. If Rentberry takes 3% of those (0.6 of the 5% fee for tenants) and crowdlenders recieve 22% ROI minus expenses when deposits need to be given to landlords due to a bad tenant, every party should be satisfied.
Rentberry itself should have a department that sifts through applications for deposit funding out of this crowdfund fast based on objective metrics like credit score, income, criminal record, eviction record, etc.
Idk if they changed their
Logan Brown
*Idk if they changed their plans. I sent them a long explanation of a system alternative to their own, along with pretty solid reasoning, when they were asking for feedback in a google form thingy. They probably don't really read those things though.
Tyler Jenkins
DESU They were redoing their plan but I haven't read it yet, you could probably ask them, they are doing AMA, answering sent questions on 28th.
Adam Wilson
Its useless. Lots of hot real estate markets have standardized landlord-tenant agreements that must be used for rental properties. Plenty of landlords fantasize about making up their own agreements that let them provide neglected and derelict properties to desperate renters but this plan gets fucked rapidly in democratic nations.
There's no point in 'smart contract' agreements or crypto in the landlord / tenant relationship because it unfairly disadvantages one side over the other (so it won't be used by either party)
Alexander Carter
>future function where electronic IOT locks can be installed in units that can be locked via key signature on the blockchain by the landlord if it's necessary in the process of kicking someone out, or autolocks unless the tenant pays rent on time.
There are laws against this sort of thing in first world countries. You typically need to go through a legal process to evict a tenant or install a padlock on the door and lock them out. Sounds like a libertarian wet dream lmel, good luck with your shitcoin.
Anthony Watson
>>paying rent with crypto
I smell IRS incoming.
also, a stable market (like real estate / housing / car selling / etc) can't and won't grow just by slapping some Hurr Durr Crypto on it.
Evan Gray
nobody is saying it will grow by "just slapping some Hurr Durr Crypto on it" they already are functional platform with hundreds of thousands rentals... So implementing crypto payments will meet with demand.