Blockchain Report — 11/29/2018. Summary: South Carolina Real Estate Is…
By: Christopher Durr
Tags: Blockchain, Cryptocurrency, Ethereum, Investing, News

Summary: South Carolina Real Estate Is Being Put On The Blockchain; Coinbase Wallet Now Supports Ethereum Classic; Ethereum Founder Says Some Companies Are Using Blockchain For Marketing Hype

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South Carolina Real Estate Is Being Put On The Blockchain

According to Fortune, U.S. investors will now be able to purchase South Carolina real estate on the blockchain in the form of tokens. These tokens represent partial ownership in a luxury student housing location called The Hub. The Hub will be for students of the University of South Carolina.

This sort of investment offering is the first of its kind — it is the first ever real estate that investors can purchase in the form of tokens. The project is run by Convexity Properties, which aims to raise $20 million in a token sale. Accredited investors will be able to buy tokens of The Hub for $21,000 or more. These tokens will eventually be able to be sold on cryptocurrency exchanges.

The CEO of Convexity Properties, Don Wilson, said that a student residence was chosen as its first blockchain offering because it is an easy to understand investment. The Hub tokens will also provide a 5% dividend on the real estate.

Coinbase Wallet Now Supports Ethereum Classic

According to Cointrust, Coinbase is now offering support for Ethereum Classic on its Coinbase Wallet. After this addition, Coinbase will now support Ethereum, Ethereum Classic, and 1,000s of other ERC20 tokens made with Ethereum.

The Coinbase Wallet platform will gradually update after a few days, after which point clients will be able to see their Ethereum Classic balance as well as receive and send Ethereum Classic from Coinbase. In a blog post, Coinbase writes:

“As part of our mission to be the easiest and most trusted crypto wallet, we plan to add support for even more blockchains in the future.”

What’s incredibly useful is that the Ethereum Classic wallet address is the exact same as the Ethereum address. That means if somebody accidentally sent Ethereum Classic to their Ethereum address before, they’ll be able to use it after the upgrade is completed.

The addition of Ethereum Classic shouldn’t be a surprise to most, considering that Ethereum Classic was added to Coinbase Pro in August.

Ethereum Founder Says Some Companies Are Using Blockchain For Marketing Hype

According to Ethereum World News, Ethereum founder Vitalik Buterin said that current “gold rush” that is occurring when it comes to blockchain technology, where many companies want to integrate and use the technology, can occasionally lead to wasted time. Buterin said in an interview:

“Sometimes it is for marketing hype. Sometimes it is just people who are genuinely excited about blockchains and want the thing they are personally excited about and their job to align more with each other, which is a totally legitimate, human thing to want to do.”

Buterin also said that he believes that the main industries that will massively benefit from blockchain technology are cross-border payments and transactional-based cryptocurrencies.

Buterin also decried the practice of IBM and other large tech companies that use proprietary blockchains. He said that companies that own the intellectual property for their blockchain technology are missing the point of blockchain and decentralization.

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