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Blockchain

Glen Oaks Escrow Announces It Assisted With Its First Bitcoin Transaction

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Glen Oaks Escrow, one of Southern California’s largest independent escrow companies, recently announced that it closed its first Bitcoin transaction.

The organization shared that the homebuyer contacted the Glen Oaks Escrow office in San Diego to inquire about purchasing a condo in Costa Mesa. Given that Glen Oaks Escrow is able to provide services in other locations outside of San Diego, Escrow Officer Doreen Tirres, successfully assisted the client with the transaction.

“Doreen was wonderful,” Buyer Ezra B. said of the 17 day escrow. “She was responsive and on top of things. She was extremely professional and I didn’t have any doubts that we would have any trouble closing this transaction. She did all the communication with BitPay which was nice.”

“We made the decision in 2018 to start accepting Bitcoin payments, and we are thrilled that we did. This real estate transaction exemplifies that, while a young technology in our industry, blockchain and cryptocurrencies have the potential to become a bigger part of real estate transactions. And, we’re very proud to be at the forefront to enable transactions in this way,” shared Joe Curtis, COO of Glen Oaks Escrow.

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Glen Oaks Escrow accepts Bitcoin payments through BitPay, which acts as the payment processor in the transaction and is used to verify the funds (similar to how a bank would function). The escrow company then sends out an invoice to the buyer exactly like wire instructions would be sent. The buyer then has 15 minutes to pay with Bitcoin or the payment option will expire.

The funds go to escrow through BitPay, which turns it into cash and wires it into the escrow account. In summary, BitPay takes the Bitcoin and converts it to cash for the seller, so the seller never actually sees the Bitcoin payment, but just the cash.

The decision was made to accept Bitcoin as the payment method due to an increasing number of homes currently listed on the market that are accepting Bitcoin as a form of payment. In 2014, a Lake Tahoe home sold for 2,739 Bitcoins — the equivalent of $1.6 million at the time. In 2017, a buyer used roughly 3,300 Bitcoins to buy a Cape Cod-style mansion in Manhattan Beach for $3.225 million.

“While many are still trying to understand how cryptocurrencies fit into the real estate industry, we continue to see the growth of usage in other markets. In March, two multi-billion-dollar companies started accepting Bitcoin for payments – Avnet, a Phoenix-based electronic supplier and Digitec Galaxus AG – a Swiss-based online retail store. We are confident that this new way of doing business will increase in our industry, and we’re proud to be paving the way for this technology,” explained Joe Curtis.

 

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SOURCE Glen Oaks Escrow

Blockchain

Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)

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Building Customer Trust in AI with Blockchain

Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.

Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.

Source: Harvard Business Review

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Blockchain at a Crossroads: Balancing Promise and Peril

As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.

The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.

Source: Cointelegraph


BRICS vs. USD: Blockchain’s Role in Economic Shifts

The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.

This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.

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Source: CoinGeek


Hungri Games Expands MetaHorse Unity to Base Blockchain

Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.

By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.

Source: CoinTrust


Nano Labs Purchases Trump Tokens to Celebrate Presidency

Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.

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The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.

Source: PRNewswire


Final Thoughts: Blockchain’s Expanding Horizons

This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.

While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.

 

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Blockchain

CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo

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OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara

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The World Market for RegTech 2025-2030: Growth Trends, Industry Chain Analysis, Regional Insights, SWOT Analysis and Market Shares of Leading Players – Thomson Reuters, Deloitte, PwC, Accenture, IBM & More

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