Hagan Homes, one of the largest developers of residential property in Northern Ireland, will now accept bitcoin (BTC) as a payment method, the Belfast Telegraph informs on February 22.
James Hagan, Managing Director of Hagan Homes, said that there is a growing interest in work, life and investment in Northern Ireland, as well as “a significant increase in the use of Bitcoin around the world:
“Our adoption of this new channel reflects our willingness to respond to the market.”
The Belfast telegraph writes that Hagan Homes is reportedly the first house building firm in Ireland that accepts BTC payments.
Hagan really recognized the problem in taking bitcoins as payment. He noted the current volatility in cryptographic markets, the price of BTC ranges from $ 20,000 to $ 7,000 in just a few months:
“Of course, there are some risks to using Bitcoin for payment due to the cryptocurrency volatility, but buyers and sellers find creative ways to solve these problems […] Including training our partners in our approach, we can accept this innovation.”
Bitcoin-payments for real estate have already taken place in the cities of the United States, as well as in the United Arab Emirates and Indonesia. Blockchain Technologies saw increasing use in the real estate industry, as well as with the city of South Burlington, Vermont, implementing the pilot program Blockchain in January 2018 to register a real estate transaction.