“When I first heard about bitcoin, it didn’t make any sense to me and there was no real interest to invest or put my money into a digital format…[well] seeing is believing, right?” said Ally Rodriguez, ECI’s International Referral Network Director. “As time has gone on and education and acceptance of using and owning bitcoin have increased, it just finally made sense to me to take a slice of my salary and put it away in crypto. This essentially mirrors what has been done for years in the “traditional” manner and with the potential to earn “interest” in the form of value appreciation at a rate considerably faster than your typical retirement and savings plans.”
A large and growing number of employees at ECI Development have begun accepting payment in bitcoin. Based in Belize, where cryptocurrency is not a part of the everyday conversation like, say, El Salvador making bitcoin legal tender, this move is quite the leap forward for the company. With developments across several countries in Latin America, plus staff spread across the region and the US, offering payment in bitcoin seemed like the next logical step to being part of the crypto world.
The real estate development company has been accepting bitcoin as payment for properties for nearly five years. CEO Mike Cobb candidly shared his views on the currency early on. “Why wouldn’t we take bitcoin for a property purchase?” The belief is that any hard currency can lead to ownership of ECI property, so long as the trade value is fair and equal. As an international company conducting business in five Latin American countries, with expansions expected in Mexico and South America in the very near future, the type of currency its customers use to purchase property should be irrelevant. That philosophy has now gained a stronghold within the employees, who see the limitless potential of bitcoin and cryptocurrency as a whole.
Proud to be a part of history
“By taking a part of my monthly pay and having it paid out in Bitcoin, it lets me become part of the “crypto world” and understand my clients who are big into crypto. It’s a small step towards understanding their way of thinking,” said Betsy Rosenlund, Property Consultant. She, as well as other team members, believe that the use of cryptocurrency will become more frequent. “I don’t think that traditional banks and currency systems are going to be obliterated, but the use of cryptocurrencies will become more prevalent.”
El Salvador truly shook up the cryptocurrency world by declaring bitcoin legal tender as of September 7th. ECI saw the opportunity to expand to this country, and will be unveiling its newest community, Gran Zonte, in the El Zonte neighborhood as well.
“Being one of the first – if not only – real estate developers to accept and use cryptocurrencies is HUGE! It opens up our market to so many more people, especially with the launch of our community in El Salvador!” added Betsy.
Being a part – however small – of history, brings a sense of empowerment. “Imagine how incredible it will be to have increased options of payment for everyday expenses and exchanges that are taking place globally in a fraction of the time other methods like wire transfers, digital checks, etc. take.”
Imagination will no longer be needed in El Salvador on September 7th. And in Belize, several of ECI Development’s staff are already living the reality of bitcoin.