Now rent a home using Bitcoin and Ethereum –BeeNest plans to be a Airbnb on blockchain

As many more industries start accepting Bitcoin as a form of payment, the real-estate business just got another Bitcoin fan. BeeNest, a startup by Jonathan Chou and a group of Uber, Google and Facebook alumni will let users pay for home rentals using Bitcoin and Ethereum.

Crypto-currencies are finding newer real-world uses and utility every day. Leading the pack is Bitcoin, closely followed by Ethereum and Ripple. Ethereum is mostly used for its blockchain technology and Ripple has a lot of institutional utility. KFC Canada recently started accepting Bitcoins as an acceptable form of payment. Residents of the state of Arizona, USA filed a petition to pay taxes using Bitcoin. House owner in BC, Canada was selling a $2 million prime property in exchange of an equivalent amount of Bitcoin.

Bitcoin is currently trading at $11218, with a “surprising” slump in prices from yesterday and currently has a market cap of $200 billion.

Jonathan Chou, founder of BeeNest, in a recent media release, says

“Blockchain is all about decentralization, giving power back to the people, removing the middleman.”

BeeNest plans to keep expenses low by using the community to handle arbitration when disputes or problems arise; arbitrators will earn tokens for their time.

Jack Mir, a Market Analyst from Vancouver, says,

“This is like good PR for Bitcoin, no matter how much the world crucifies Bitcoin, it keeps coming back up again. On a serious note, if we start paying our rents by Ethereum or other cryptocurrencies, it is really more mainstream than any other technology and I think people are scared for the very same reason”