Cryptocurrency, a digital asset designed to work as a medium of exchange, has been in the works since the 1980s, but has only recently become a trusted form of currency.
Some types of cryptocurrency are even accepted as a method of payment in the building industry. Calgary builder Trademark Renovations recently announced clients can now pay for custom builds and renovations with Bitcoin and Ethereum. Some members of the construction industry believe that once cryptocurrency is adopted by the mainstream, the fluctuation of building materials will stabilize. This stability comes from cryptocurrency not being directly tied to flat currency and thus not subject to exchange rates the way Canadian and US dollars are. Further, cryptocurrency transactions occur from peer to peer, which eliminates middlemen and related markups. Of course, not all cryptocurrencies are created equal and only time will tell which ones are truly reliable.