Billionaire Mark Cuban Wants to Tap Blockchain for Real Estate Innovation
Tech billionaire Mark Cuban has expressed curiosity within the potential of blockchain know-how for revolutionizing actual property improvement.
This follows a city-building proposal by serial entrepreneur Jason Calacanis that sparked a dialogue about integrating cutting-edge know-how into large-scale city improvement tasks.
Blockchain for city improvement
Calacanis recommended setting up ten new cities within the U.S., every with one million housing models. They might be aimed toward redefining city dwelling with a concentrate on sustainability and affordability.
Cuban took the dialog a step additional. He proposed leveraging blockchain know-how, significantly specializing in its potential to automate and safe actual property transactions and undertaking administration.
The billionaire’s proposal entails the creation of a wise contract on a zero-knowledge layer-2 blockchain platform. This contract would mechanically verify for the issuance of development 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 sensible contract would repeatedly monitor for brand spanking new development permits and generate a brand new NFT for every extra 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 goal.
Cuban responded by stressing the simplicity and safety advantages of utilizing a multi-signature pockets for dealing with undertaking funds.
Calacanis, nevertheless, recommended choosing a extra conventional trust-based technique for funds switch.
