At the end of February, Renovation Contractor Advisory Board member Blair Foisy announced that his Calgary-based company, Trademark Renovations, would become the first general contractor in the country to accept the cryptocurrencies Bitcoin and Ethereum as payment for projects.
While capitalizing on the trending popularity of “blockchain technology” behind these digital currencies, Foisy is also taking a long view with the experiment. “Because Bitcoin and Ethereum are not directly tied to any fiat currency, it will help level the playing field,” says Foisy. “Once cryptocurrencies are adopted by the mainstream, the pricing for building materials and logistics will not be subject to the current fluctuations of fiat currency exchange as they are with USD to CAD. Peer-to-peer transactions will eliminate many middlemen and related mark-ups, greatly impacting the price of goods and materials.”
Our only question: Can you buy a Fiat Spider with crytocurrency?