Tech billionaire Mark Cuban has expressed curiosity within the potential of blockchain expertise for revolutionizing actual property improvement.
This follows a city-building proposal by serial entrepreneur Jason Calacanis that sparked a dialogue about integrating cutting-edge expertise into large-scale city improvement tasks.
Blockchain for city improvement
Calacanis prompt establishing ten new cities within the U.S., every with 1,000,000 housing items. They might be aimed toward redefining city dwelling with a deal with sustainability and affordability.
Cuban took the dialog a step additional. He proposed leveraging blockchain expertise, notably specializing in its potential to automate and safe actual property transactions and venture administration.
The billionaire’s proposal entails the creation of a wise contract on a zero-knowledge layer-2 blockchain platform. This contract would mechanically test for the issuance of development permits.
Upon verification, it will create and ship an NFT that releases $250,000 in USDC, a well-liked stablecoin, when an oracle verifies {that a} housing unit is full.
The sensible contract would repeatedly monitor for brand spanking new development permits and generate a brand new NFT for every further housing unit constructed.
Moreover, Cuban suggests utilizing a multi-signature pockets to make sure safety and mutual safety for each events concerned within the transaction.
Some skepticism
Some customers questioned the need of utilizing a ZK rollup, a complicated blockchain resolution, for this function.
Cuban responded by stressing the simplicity and safety advantages of utilizing a multi-signature pockets for dealing with venture funds.
Calacanis, nevertheless, prompt choosing a extra conventional trust-based technique for funds switch.