Qwikwire, the payment solutions specialist that develops blockchain-powered real estate platform Aqwire partners with Satoshi Citadel Industries (SCI Ventures) to power Aqwire’s cryptocurrency payment channel.
Aqwire is a blockchain initiative that aims to be involved in all aspects of real estate transactions, from acquiring to the selling of properties globally. Through its platform, buyers can be connected to sellers anywhere in the world and proceed to do transactions regarding the real estate in different stages of the sale cycle.
Every party in the sale can transact in multiple ways, such as credit cards, debit cards, international bank transfers, and even through cryptocurrency. SCI Ventures will be the crypto payment gateway for Aqwire.
Aqwire’s token called QEY is used throughout the platform for parties to gain access to services such as listing, market reports, live data trends on real estate investments, and discounts when availing units. The QEY token is built on the ERC-20 Standard. All additions or modifications to the blockchain will require the use of QEY tokens.
In a statement, both companies believe that processing real estate payments in cryptocurrencies is a natural fit, given crypto’s growing adoption in many industries. Through this partnership, Aqwire will be able to process real estate payments in crypto, in addition to its already robust payment processing capabilities.
When the BitPinas team asked Qwikwire senior business analyst, Ms. Jacquiline Romorosa, as to why the company chose SCI as a partner, she mentioned SCI’s track record as an established blockchain player in the country.
“We thought about a good collaboration with SCI in doing this. A lot of developers are really open now to accepting bitcoin, ethereum, and other cryptocurrencies such as litecoin. Why not make it happen. … We’re giving more payment options not only for foreign buyers but for our OFWs as well.” – Jacquiline Romorosa, Qwikwire
Through Smart Contract technology, Aqwire removes a number of roadblocks that plagued real estate transactions for so long, such as reservation of units, validation of transactions, escrow, and international KYC (Know your Customer).
Aqwire is currently raising funds for the development of its platform and the onboarding of more local and international real estate developers.
SCI Ventures is a business engaged in blockchain technology and one of the first blockchain companies in the Philippines. Its suite of products includes Buybitcoin.ph, Rebit.ph, and Bitbit.cash. The news is announced at the Blockchain Space in Makati.
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