Dubai based IBC Group has pledged 100,000 Bitcoin (current value of USD $4.8 Billion) to setup the Miami 2.0 Blockchain Strategy Foundation and many other related Joint Venture Projects. The group backing of Miami 2.0 Blockchain Strategy could turbo-charge use of the cryptocurrency, which is estimated to transact USD $200 Billion per day, by the end of this year.
The pledge by IBC group, the largest in Bitcoin history, will be significant in facilitating the digital-currencies adoption across multiple industries and critical in aiding Miami’s vision to integrate Bitcoin in everyday transactions.
IBC Group was recently approached by landmark U.S based real-estate developer Burkhan World Investment LLC, to increase the adoption of blockchain technology in Real Estate and to enable efficiencies in government and private sectors. “Making the largest Bitcoin investment in history is proof of our commitment to assisting cities to adopt Blockchain, which we see as the key to enabling widespread adoption,” said Khurram Shroff, the chairman for IBC Group.
Burkhan currently has over US$1 billion worth of Real Estate projects in Miami in its pipeline that are being empowered with technological innovation. “Enabling investment into Real Estate utilizing Bitcoin as a collateral asset will further enhance its use case as a tool to create a hybrid investment vehicle for BTC holders,” said Shahal Khan, Burkhan’s CEO and Founder, “Economical debt coupled with a favorable hedge for BTC holders in stable long-term assets such as Real Estate, are a double win for digital currency holders as well as developers and property owners.”