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 <p class="is-style-lead">Tech entrepreneur and billionaire Mark Cuban expressed interest in a transformative crypto real <a rel="noopener noreferrer nofollow" title="estate" href="https://thebittimes.com/tag/estate.html">estate</a> project to integrate smart contracts and non-fungible tokens (NFTs) to facilitate construction and urban development.</p>
 <p>This development follows a proposal by Jason Calacanis, a serial entrepreneur, to build ten new cities across the US, each housing a million units. These cities are envisioned to redefine urban living with an emphasis on sustainability and affordability.</p>
 <h2 class="wp-block-heading" id="cuban-s-vision-for-crypto-driven-real-estate">Cuban’s vision for crypto-driven real estate</h2>
 <p>Cuban took the conversation a step further. The billionaire investor’s proposal involves utilizing a <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>-based smart contract that operates on a layer-2 scaling solution to ensure privacy and efficiency.</p>
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    <p lang="en" dir="ltr">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… https://t.co/KxmZ4RdlTH</p>— Mark Cuban (@mcuban) November 26, 2023
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 <p>According to Cuban, the smart contract is programmed to verify construction permits autonomously using an oracle, a mechanism that feeds external data into the <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>.</p>
 <p>Upon successful verification of a permit, the contract then produces an NFT. This NFT represents a developer’s entitlement to receive $250,000 in USDC, a stablecoin, as detailed by Cuban.</p>
 <p>Cuban also proposes the use of a multi-signature wallet to enhance security and provide mutual protection for the parties involved in the transactions.</p>
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 <p>However, some have raised questions about the necessity of using a ZK-rollup, a complex <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> solution, for this purpose.</p>
 <p>In response, Cuban highlighted the simplicity and security advantages of using a multi-signature wallet for managing project funds.</p>
 <p>Calacanis, on the other hand, recommended the adoption of a more conventional, trust-dependent approach for transferring funds.</p>
 <p>Cuban’s interest in this innovative blend of cryptocurrency and <a rel="noopener noreferrer nofollow" title="real-estate" href="https://thebittimes.com/tag/real-estate.html">real-estate</a> mirrors his broader advocacy for the practical and beneficial applications of cryptocurrency beyond mere investment opportunities.</p>
 <p>In an Oct. 2023 interview, he expressed concerns about the perception of cryptocurrencies, noting, “[m]any associate crypto primarily with speculation. However, that’s not the true essence of what cryptocurrencies represent.”</p>
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  <p>“Crypto is really about creating new applications that make things better and easier. What crypto is missing is that one application that grandma really wants to use.”</p> <cite>Mark Cuban</cite>
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 <p>Despite his passion for the industry, Cuban has encountered hurdles in his cryptocurrency endeavors. In Sept. 2023, he experienced a significant setback when he fell victim to a cryptocurrency scam, resulting in a loss of nearly $870,000.</p>
 <p>Cuban was taken by surprise, only becoming aware of the scam after noticing the absence of 5 Ethereum from his wallet, which was worth approximately $8,175 at that time.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/billionaire-mark-cuban-eyes-blockchain-use-for-real-estate-innovation-tbt71738.html">https://thebittimes.com/billionaire-mark-cuban-eyes-blockchain-use-for-real-estate-innovation-tbt71738.html</a></p>

Billionaire Mark Cuban eyes blockchain use for real-estate innovation

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