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 initiatives.
Blockchain for city improvement
Calacanis advised establishing ten new cities within the U.S., every with one million housing items. They might be geared toward redefining city residing with a give attention to sustainability and affordability.
Cuban took the dialog a step additional. He proposed leveraging blockchain expertise, significantly specializing in its potential to automate and safe actual property transactions and mission administration.
The billionaire’s proposal entails the creation of a wise contract on a zero-knowledge layer-2 blockchain platform. This contract would robotically examine for the issuance of building permits.
Upon verification, it will create and ship an NFT that releases $250,000 in USDC, a preferred stablecoin, when an oracle verifies {that a} housing unit is full.
The good contract would constantly monitor for brand new building 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 classy blockchain resolution, for this function.
Cuban responded by stressing the simplicity and safety advantages of utilizing a multi-signature pockets for dealing with mission funds.
Calacanis, nevertheless, advised choosing a extra conventional trust-based technique for funds switch.