In an innovative and disruptive move, billionaire investor and entrepreneur Mark Cuban has expressed deep interest in an urban development project that merges blockchain technology and non-fungible tokens (NFTs) for the construction of new cities in the United States.
Mark Cuban is a prominent American businessman, investor and media figure, recognized for his participation in the television program “Shark Tank.”
Born in Pittsburgh, Pennsylvania, Cuban made his fortune primarily through establishing, selling and managing several technology companies.
This initiative, proposed by businessman Jason Calacanis, proposes the creation of 10 completely planned cities, each with one million housing units.
So you are saying you will have written a smart contract on a ZK L2 which will check for a construction permit being issued , which in turn will create and send me an NFT that unlocks and delivers 250k in USDC when the oracle checks property and utility records and…
— Mark Cuban (@mcuban) November 26, 2023
These cities would be designed to ensure not only exceptional affordability, but also a high quality of life, with an emphasis on accessibility, sustainability and amenities that encompass the needs of all social strata, from children to the elderly and workers.
Cuban’s vision focuses on the application of blockchain-based smart contracts, specifically a ZK layer 2 scalability solution, which would be responsible for verifying construction permits.
Once the issuance of these permits is certified and the property and public services records are verified, an NFT would be generated, which would have the power to unlock and deliver 250 thousand dollars in USDC to Mark Cuban.
This Mark Cuban contract would operate continuously, generating a new NFT for each unit built
Cuban, however, highlights the importance of implementing a multi-signature wallet to ensure security and protection for both himself and those involved in this ambitious blockchain-based urban development project.
Cuban’s focus on utilizing blockchain technology and cryptocurrencies for tangible, beneficial real-life purposes reflects his belief that the true potential of cryptocurrency lies in creating applications that improve and facilitate people’s everyday lives.
Despite his challenges in the crypto space, including being the victim of a scam that resulted in the loss of a significant amount of Ethereum, Cuban continues to bet on the transformative potential of blockchain technology in building and managing cities of the future.