The Transform Technology Summits begin on October 13th with Low-Code / No Code: Enabling Enterprise Agility. Join Now!
Michelle Mone rose from a Scottish working class to become one of the UK’s most renowned entrepreneurs thanks to the incredible success of her one-of-a-kind bra designs.
Leaving the lingerie business a few years ago, Mone was recently made a baroness and given a seat in the House of Lords. But entrepreneurship was calling, and so Mone has announced a new joint venture with her business partner and friend Douglas Barrowman.
The couple are building a residential tower in Dubai with an interesting twist: It is aimed at the cryptocurrency community. Apartments in the 40-story tower are listed and sold for Bitcoin, which, according to the partners, is a first for residential real estate.
Mone said she hopes the resulting publicity will generate more awareness and curiosity about Bitcoin beyond the project.
“The majority of the people on the street have never heard of Bitcoin,” Mone said. “And if they do, they don’t know what it is. So let’s bring Bitcoin to the masses. “
The apartments were sold on Ashtoncryptoplaza.com just after midnight in the UK on September 6th. Prices start at 33 bitcoin, or around $ 150,000.
The tower is due to be completed sometime in 2019 and is located above a huge shopping mall in Dubai. The property will have 1,133 apartments, each of which can be purchased using Bitcoin through the website. After buying an apartment, the owner can follow the construction process via webcams that are placed on site and streamed on the website.
Mone and Barrowman will initially offer the first 150 apartments for sale. After the sale of the 50th apartment, they also give away one for free.
Although Mone is a bit new to cryptocurrency, it now has a bitcoin wallet. However, Barrowman has been a longtime supporter and investor of Bitcoin companies. He believes the project will appeal to members of the crypto community who have amassed wealth and want a way to diversify beyond other cryptocurrencies or initial coin offerings.
“It was a natural extension for me to see Bitcoin as a mainstream currency,” he said.
Together, the two bet that their long-term success in various business ventures and the transparency of the project will help convince cryptocurrency holders to trust them.
“We’re well known business people,” said Mone. “And the business world with cryptocurrencies is based on trust.”
VentureBeat’s mission is to be a digital marketplace for tech decision makers to gain knowledge of transformative technologies and transactions. Our website provides essential information on data technologies and strategies to help you run your organization. We invite you to become a member of our community to gain access:
- current information on the topics of interest to you
- our newsletters
- closed thought leadership content and discounted access to our award-winning events such as Transform 2021: Learn more
- Network functions and more
become a member
Comments are closed.